Scarborough Place & Sleepy Creek Multi-Family FOR SALE


Athens, GA - Eastside Athens
$10,200,000 USD
678-808-2715
, Athens, GA for Sale
$10,200,000 USD
Multi-Family - FOR SALE
1/22
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Scarborough Place & Sleepy Creek
Athens, GA
Eastside Athens


HIGHLIGHTS

  • Located in a high growth submarket of Athens, GA
  • Below market rents
  • Property was built with condo specifications. Could potentially be sold off individually
  • Owner owns 62 of the 72 total units of Scarborough Place Apartments and controls HOA
  • Large units; 2-bedroom units (1,400 SF) and 3 bedroom units (1,550 SF)
  • 1982, 1986, and 1997 vintage

OVERVIEW

Marcus & Millichap is pleased to present for sale Scarborough Place Apartments and Sleepy Townhouses. This offering presents a rare value-add opportunity in the rapidly growing Athens, GA market. Current rents trail the market by approximately $150–$200 per unit, providing immediate upside through rental adjustments, with minimal capital expenditures required. The property boasts a strong occupancy track record, historically operating at or near full capacity. Additionally, the property was built with condo specifications, offering the potential for individual condo sales. Athens is anchored by the University of Georgia and several of the state’s top medical institutions, fueling consistent housing demand and long-term investment stability.

ASK ABOUT THIS PROPERTY

Joe MitchellMarcus & MillichapMore Info
678-808-2715

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Joe MitchellMarcus & MillichapMore Info
678-808-2715

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.