East Athens Duplex Investment
For Sale
$295,000
148 E Paces Drive, Athens, GA 30605
Income-producing duplex in East Athens with leases in place.
Property Size1,950 SF
Lot Size0.36 Acres
Price / SF$151.28
Days on Market423
Property Features for 148 E Paces Drive
General Information
Standard status
Active
Size
1,950 SF
Lot size
0.36 Acres
Property subtype
Duplex
Amenities
Central
Electric
Gas
Central Air
Some Electric Appliances
Some Gas Appliances
Dishwasher
Electric Water Heater
Oven
Range
Refrigerator
Patio, Porch, Cable Available, Underground Utilities, Composition
Building Details
Building Size
1,950 SF
Year Built
1983
Stories
1
Listing Agency:
GREATER ATHENS
Listed By:
Jared Marsden · License #355925
(706) 340-3867
Source:
Kw
Added: Aug 26, 2025
Changed: Oct 21
Last Checked: Oct 21 at 1:02AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,681
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,620
$473.6K
Cap Rate 7%
$338,300
$338.3K
Cap Rate 9%
$263,122
$263.1K
Market Conditions
NOI Build-Up for 1,950 SF
Gross rent
$35.8K $18.36/SF
− Vacancy
−$2.0K −$1.01/SF
EGI
$33.8K $17.35/SF
− OpEx
−$10.1K −$5.20/SF
NOI
$23.7K $12.14/SF
Area
Athens, GA
Vacancy
5.51%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,620
Cap Rate 7%
$338,300
Cap Rate 9%
$263,122
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 authorities.
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Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
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Business Placement
Demographics for 30605, GA
43,205
Population
18,387
Households
2.3
Avg Household Size
28
Median Age
53%
College-Educated
91%
High-School Grad
38.2 sq mi
ZIP Area
1,131
Density / Sq Mi
$48,188
Median Household Income
$24,933
Median Earnings
$1,104
Median Rent
$279,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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.
