15-Bedroom Multifamily
250 Carriage Lane, Athens, GA 30605
For Sale
$2,250,000
Commercial Sale, Athens, GA
Property Size8,946 SF
Lot Size6.58 Acres
Price / SF$251.51
Days on Market95
Property Features for 250 Carriage Lane
General Information
Property type
Property subtype
Zoning
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Appliances
Directions
Standard status
APN
Size
Lot size
Additional Details
Currently Operating
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Building materials
Roof type
Listing Agency:
Athens Real Estate Associates, Inc.
(706) 850-6064
Listed By:
John Mobley · License GA #104999
(706) 338-3550
Added: Aug 10
Changed: Nov 2
Last Checked: Nov 12 at 7:06PM
MLS# CL363374
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.
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Investment Insights
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This 8,946-square-foot brick multifamily residence was built in 2017 and is currently used for Greek-life housing. It contains 15 bedrooms, including 12 upstairs, and two kitchenettes. Central heating and central air conditioning serve the building. Public water and public sewer are available, and the roof is composition material.
The property occupies 6.58 acres at 250 Carriage Lane in Athens, near UGA. It is zoned RM-1. The bedroom count and existing layout are documented features of this group residence.
The property occupies 6.58 acres at 250 Carriage Lane in Athens, near UGA. It is zoned RM-1. The bedroom count and existing layout are documented features of this group residence.
Key Highlights
- 15 bedrooms, with 12 located upstairs
- 8,946 square feet on 6.58 acres
- Two kitchenettes; currently used for Greek‑life housing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,114
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,002,280
$2.0M
Cap Rate 7%
$1,430,200
$1.4M
Cap Rate 9%
$1,112,378
$1.1M
Market Conditions
NOI Build-Up for 8,946 SF
Gross rent
$193.2K $21.60/SF
− Vacancy
−$11.2K −$1.25/SF
EGI
$182.0K $20.35/SF
− OpEx
−$81.9K −$9.16/SF
NOI
$100.1K $11.19/SF
Area
Athens, GA
Vacancy
5.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,002,280
Cap Rate 7%
$1,430,200
Cap Rate 9%
$1,112,378
Alternative Uses
Best Use
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,114 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $150,963 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
192
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
$279,200
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Athens, GA
Properties on Market for Multifamily properties in Athens
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two kitchenettes support the property’s current Greek-life housing use.
Where is this multifamily property located?
The property is located at 250 Carriage Lane Athens, GA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 15 bedrooms, with 12 located upstairs; 8,946 square feet on 6.58 acres; Two kitchenettes; currently used for Greek‑life housing
