Three-Bedroom Residential Income
For Sale
$175,000
2505 W Broad St Unit 321, Athens, GA 30606
Recently repainted condo with new bedroom carpeting and exterior upkeep handled through the community association.
Property Size1,410 SF
Price / SF$124.11
Days on Market94
Property Features for 2505 W Broad St Unit 321
General Information
Standard status
Active
Size
1,410 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Building Details
Year Built
1984
Listing Agency:
Greater Athens Properties
Listed By:
Mike Leggett · License #400427
(706) 202-5259
Source:
Bradberrygarnerrealestate
Added: Jul 21
Changed: Oct 5
Last Checked: Oct 21 at 12:32AM
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 Properties
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Investment Insights
Based on property information with market context.
This 1,410-square-foot condominium offers three bedrooms and two full bathrooms within the Rivers Edge community. Built in 1984, the unit has been recently repainted in a neutral palette, while new carpeting has been installed throughout the bedrooms. The layout provides separate room options for household members, guests, or a home office.
Located at 2505 W Broad St Unit 321 in Athens, the property is minutes from UGA, downtown Athens, dining, shopping, and entertainment. Condo living includes exterior upkeep through the community, supporting a lower-maintenance ownership structure.
Located at 2505 W Broad St Unit 321 in Athens, the property is minutes from UGA, downtown Athens, dining, shopping, and entertainment. Condo living includes exterior upkeep through the community, supporting a lower-maintenance ownership structure.
Key Highlights
- Three‑bedroom, two‑bathroom condominium
- 1,410 square feet in Rivers Edge
- Recently repainted throughout in a neutral palette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,779
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$315,580
$315.6K
Cap Rate 7%
$225,414
$225.4K
Cap Rate 9%
$175,322
$175.3K
Market Conditions
NOI Build-Up for 1,410 SF
Gross rent
$30.5K $21.60/SF
− Vacancy
−$1.8K −$1.25/SF
EGI
$28.7K $20.35/SF
− OpEx
−$12.9K −$9.16/SF
NOI
$15.8K $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%
$315,580
Cap Rate 7%
$225,414
Cap Rate 9%
$175,322
Alternative Uses
Best Use
Apartment 5plus
$225.4K
$197.2K – $263.0K
NOI $15,779 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$339.9K
$297.4K – $396.6K
NOI $23,794 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
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Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Recently repainted condo with new bedroom carpeting and exterior upkeep handled through the community association.
Where is this residential income property located?
The property is located at 2505 W Broad St Unit 321 Athens, GA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bathroom condominium; 1,410 square feet in Rivers Edge; Recently repainted throughout in a neutral palette
