524 Vine Street
Property Description
PROPERTY DESCRIPTION: 524 Vine Street is a 28-unit apartment complex situated on 1.49 acres in East Athens, less than a mile from downtown and the University of Georgia campus. All 28 units are one-bedroom, one-bath, giving the property a consistent, easy-to-manage unit mix. The complex is currently 100% occupied with an NOI of $160,125. The 14,760 SF building was constructed in 1985 on a 1.49-acre site in East Athens. The site also includes a 1,500 SF single-family residence that offers a buyer additional income potential through renovation and rental, or possible conversion to a duplex, subject to applicable zoning. LOCATION DESCRIPTION: 524 Vine Street sits in the East Athens neighborhood, directly accessible from Vine Street in Athens-Clarke County. The property is within a short distance of downtown Athens, the University of Georgia, and Athens Regional Medical Center, placing it in a rental market with consistent year-round demand supported by the area's proximity to major employers, the University of Georgia, and Athens Regional Medical Center. East Athens has seen continued investment in recent years as demand for workforce and affordable housing near the UGA campus has grown. The area's proximity to downtown employers, transit routes, and UGA's expanding footprint supports stable occupancy for well-maintained multifamily properties at this price point.
Broker Details
NAI Elrod Group 706-553-1000
MLS ID: CM304509366 State License Number: 251606
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,250,000 |
| Year Built: | 1985 |
| Lot Size: | 14,760.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 28 |
| Number of Bathrooms: | 28 |
ID: 3yd-HIVEMLSNC-CL358092
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