East Athens Duplex Investment
148 E Paces Drive Athens, GA 30605
148 E Paces Drive, Athens, GA, 30605
$295,000
For Sale
$295,000
Income-producing duplex in East Athens with leases in place.
Property Size1,950 SF
Lot Size0.36 Acres
Price / SF$151.28
Days on Market332
Property Features for 148 E Paces Drive
General Information
- Standard status
- Active
- Size
- 1,950 SF
- Lot size
- 0.36 Acres
- Property subtype
- Duplex
Building Details
- Year Built
- 1983
Listing agency
GREATER ATHENS
(706) 340-3867
Listed by
Jared Marsden · License #355925
(706) 340-3867
Source
Kw
Added: Aug 24, 2025 Updated: Jul 6 at 10:00AM Checked: Jul 19 at 2:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GREATER ATHENS
Investment Insights
Based on property information with market context.
Located in East Athens, this income-producing duplex investment offers convenience to schools, shopping, and restaurants. Both units feature a similar layout, each with 2 bedrooms, 1 full bath, and 1 half bath, encompassing 975 square feet. The units include updated luxury vinyl plank and laminate floors, a neutral interior paint palette, updated kitchens, and updated light fixtures. Each unit features a living room that transitions into a formal dining space. The galley-style kitchens are equipped with painted cabinets and faux granite countertops. Appliances include a gas stove/oven, dishwasher, and refrigerator. The kitchen extends to the laundry room, providing private access to the rear yards. Bedrooms feature ceiling fans, low-maintenance LVP floors, and closet space. The primary bedroom includes a private ensuite half bath. Each unit has its own dedicated rear patio overlooking a privacy-fenced rear yard and storage space, along with a covered front entry and shared front parking pad. The exterior is all brick and situated on a corner lot. The property has electric AC, gas heat, and city water and sewer. It is located less than 4 miles from Downtown Athens/UGA and within 2 miles of Loop 10. The property has an established rental history with leases already in place.
Key Highlights
- Income‑producing duplex with established rental history, offering immediate returns.
- Each unit features 2 bedrooms and 1.5 baths, with updated kitchens and flooring (Luxury Vinyl Plank & Laminate).
- Private, fenced rear yards with dedicated patios and storage space for each unit.
Local Financial Insights For Multifamily LT 5
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 | $35.8k | $18.36 |
| − Vacancy | −$2.0k | −$1.01 |
| EGI | $33.8k | $17.35 |
| − OpEx | −$10.1k | −$5.20 |
| NOI | $23.7k | $12.14 |
1,950 SF · lease $18.36/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$338.3K
$296.0K – $394.7K
NOI $23,681 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$311.7K
$272.8K – $363.7K
NOI $21,822 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$470.1K
$411.3K – $548.4K
NOI $32,906 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Income-producing duplex in East Athens with leases in place.
Where is this duplex located?
The property is located at 148 E Paces Drive Athens, GA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Income‑producing duplex with established rental history, offering immediate returns.; Each unit features 2 bedrooms and 1.5 baths, with updated kitchens and flooring (Luxury Vinyl Plank & Laminate).; Private, fenced rear yards with dedicated patios and storage space for each unit.
