Student Housing Near UGA
1030 Dr. Martin Luther King Parkway Athens, GA 30601
1030 Dr. Martin Luther King Parkway, Athens, GA, 30601
$5,500,000
For Sale
$5,500,000
MULTI_FAMILY - Athens, GA
Property Size22,760 SF
Lot Size2.48 Acres
Price / SF$241.65
Days on Market81
Property Features for 1030 Dr. Martin Luther King Parkway
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 65
- Bathrooms
- 65
- Rooms
- Bedroom 42, Bedroom 32, Bathroom 56, Bedroom 54, Bedroom 9, Bathroom 53, Bathroom 22, Bedroom 7, Bedroom 52, Bedroom 38, Bathroom 57, Bedroom 39, Bedroom 18, Bedroom 24, Bedroom 60, Bedroom 46, Bedroom 19, Bathroom 17, Bathroom 30, Bathroom 54, Bathroom 48, Bedroom 25, Bathroom 14, Bedroom 34, Bathroom 50, Bathroom 6, Bedroom 37, Bedroom 16, Bedroom 12, Bathroom 4, Bathroom 65, Bedroom 31, Bathroom 31, Bedroom 36, Bedroom 5, Bedroom 43, Bedroom 20, Bathroom 18, Bathroom 39, Bathroom 55, Bedroom 48, Bathroom 60, Bedroom 10, Bathroom 47, Bathroom 29, Bathroom 12, Bathroom 58, Bathroom 63, Bathroom 15, Bathroom 10, Bedroom 50, Bathroom 42, Bathroom 24, Bedroom 35, Bathroom 21, Bedroom 26, Bathroom 64, Bathroom 34, Bedroom 63, Bedroom 45, Bathroom 16, Bedroom 33, Bedroom 15, Bedroom 49, Bedroom 11, Bathroom 3, Bathroom 28, Bedroom 47, Bathroom 41, Bedroom 13, Bedroom 40, Bathroom 33, Bathroom 25, Bathroom 20, Bathroom 8, Bathroom 26, Bedroom 28, Bathroom 61, Bathroom 11, Bedroom 65, Bedroom 17, Bedroom 23, Bathroom 19, Bathroom 5, Bathroom 23, Bathroom 52, Bathroom 2, Bedroom 61, Bathroom 40, Bedroom 56, Bedroom 29, Bathroom 62, Bedroom 41, Bedroom 59, Bedroom 22, Bathroom 43, Bathroom 46, Bathroom 37, Bathroom 59, Bedroom 30, Bedroom 44, Bathroom 38, Bedroom 62, Bathroom 49, Bathroom 13, Bathroom 45, Bathroom 7, Bedroom 21, Bathroom 32, Bathroom 9, Bathroom 44, Bedroom 6, Bedroom 1, Bedroom 2, Bedroom 53, Bedroom 8, Bathroom 51, Bathroom 36, Bedroom 51, Bedroom 14, Bathroom 27, Bathroom 35, Bathroom 1, Bedroom 55, Bedroom 64, Bedroom 27, Bedroom 3, Bedroom 57, Bedroom 4, Bedroom 58
- Appliances
- Electric Water Heater
- Standard status
- Active
- APN
- 163A4 B004
- Size
- 22,760 SF
- Lot size
- 2.48 Acres
Taxes and HOA fees
- Tax Description
- yes
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 2008
- Floors in Building
- 2
- Number of units
- 1
Listing Agency
CollegeTown Properties LLC
(706) 850-7740
428 N Milledge Avenue, Athens, GA
Listed by
Heather Fincher · License #375573
(706) 224-5302
Added: Apr 28 Checked: Jul 17 at 7:06 pm
MLS# CL354800
Listing URL
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property is located approximately 1/2 mile from downtown Athens and the University of Georgia (UGA) campus. UGA's enrollment has grown every year for the past decade, surpassing 40,000 students in 2024. The property, situated on a 2.48-acre lot, features large 3-5 bedroom floor plans designed for student renters. The building has a property size of 22760 square feet. Units include in-unit washer and dryer, hardwood floors, updated appliances, and private balconies. Many floor plans feature private bathrooms for each bedroom. The property offers off-street parking for residents.
Key Highlights
- Prime location, approximately 1/2 mile from the University of Georgia (UGA) and downtown Athens.
- Purpose‑built student housing with large 3‑5 bedroom floor plans.
- Strong student housing market in Athens, driven by UGA's growing enrollment.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $491.6k | $21.60 |
| − Vacancy | −$28.5k | −$1.25 |
| EGI | $463.1k | $20.35 |
| − OpEx | −$208.4k | −$9.16 |
| NOI | $254.7k | $11.19 |
22,760 SF · lease $21.60/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.64M
$3.18M – $4.25M
NOI $254,706 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.49M
$4.80M – $6.40M
NOI $384,072 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Purpose-built student housing near the University of Georgia.
Where is this apartment building located?
The property is located at 1030 Dr. Martin Luther King Parkway Athens, GA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Prime location, approximately 1/2 mile from the University of Georgia (UGA) and downtown Athens.; Purpose‑built student housing with large 3‑5 bedroom floor plans.; Strong student housing market in Athens, driven by UGA's growing enrollment.
