Residential Income Portfolio with
For Sale
$2,750,000
Pending
2815 Riverbend, Athens, GA 30605
Residential Income, Athens, GA
Property Size11,996 SF
Lot Size1.76 Acres
Days on Market58
Property Features for 2815 Riverbend
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
27
Bathrooms
24
Full bathrooms
24
Half bathrooms
1
Rooms
Bathroom 12, Bedroom 1, Bathroom 5, Bathroom 17, Bathroom 20, Bathroom 3, Bedroom 10, Bedroom 25, Bathroom 18, Bathroom 11, Bathroom 22, Bedroom 24, Bathroom 4, Bedroom 2, Bathroom 13, Bedroom 5, Bedroom 21, Bedroom 19, Bedroom 15, Bedroom 27, Bathroom 9, Bedroom 16, Bedroom 7, Bedroom 3, Bedroom 23, Bedroom 26, Bathroom 1, Bathroom 10, Bedroom 17, Bathroom 7, Bathroom 23, Bathroom 24, Bathroom 8, Bedroom 20, Bedroom 22, Bedroom 12, Bedroom 8, Bedroom 6, Bathroom 6, Bedroom 9, Bedroom 13, Bathroom 21, Bedroom 14, Bathroom 2, Bathroom 19, Bathroom 14, Bedroom 11, Bedroom 4, Bathroom 15, Bedroom 18, Bathroom 16
Appliances
Dishwasher, Electric Water Heater, Microwave, Range, Refrigerator
Directions
From Broad Street, turn right on South Milledge, turn left on Riverbend. Properties are on the right.
Standard status
Pending
APN
181 007B
Size
11,996 SF
Lot size
1.76 Acres
Taxes and HOA fees
Tax Description
181 007B
Legal Description
181 007B
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2012
Floors in Building
3
Number of units
1
Flooring type
Concrete, Hardwood, Vinyl, Carpet
Building materials
Brick, Stone
Listing Agency:
CollegeTown Properties LLC
(706) 850-7740
Listed By:
Heather Fincher · License #375573
(706) 224-5302
Added: Jun 26
Changed: Aug 19
Last Checked: Aug 22 at 8:06AM
MLS# CL359162
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 for-sale portfolio includes five income-producing residential properties totaling 26 bedrooms, offered as a package only. The set features two duplexes, each providing two units with 5 bedrooms and 5 bathrooms per side. Also included is a spacious 6-bedroom, 6-bathroom house with a two-car garage, bringing variety to the mix while maintaining a consistent rental-oriented configuration. Public remarks note the homes are well maintained and designed with the student rental market in mind.
The properties are located on Riverbend Road in Athens, Georgia, at 2815 Riverbend, Athens, GA 30605. The portfolio is described as being just minutes from the University of Georgia, downtown Athens, shopping, dining, and public transportation, with adjacency to the UGA Golf Course mentioned in the remarks.
For investors and operators seeking a turnkey, scaled acquisition, this package provides a built-in mix of duplex units and a larger single-family-style home within one purchase. The overall layout supports tenant grouping while keeping ownership centralized, and the offering is positioned for buyers who want immediate portfolio breadth rather than adding properties one at a time.
The properties are located on Riverbend Road in Athens, Georgia, at 2815 Riverbend, Athens, GA 30605. The portfolio is described as being just minutes from the University of Georgia, downtown Athens, shopping, dining, and public transportation, with adjacency to the UGA Golf Course mentioned in the remarks.
For investors and operators seeking a turnkey, scaled acquisition, this package provides a built-in mix of duplex units and a larger single-family-style home within one purchase. The overall layout supports tenant grouping while keeping ownership centralized, and the offering is positioned for buyers who want immediate portfolio breadth rather than adding properties one at a time.
Key Highlights
- Package of five income‑producing properties on Riverbend Road
- Two duplexes with 5BR/5BA per side
- One 6BR/6BA house with a two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$145,678
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,913,560
$2.9M
Cap Rate 7%
$2,081,114
$2.1M
Cap Rate 9%
$1,618,644
$1.6M
Market Conditions
NOI Build-Up for 11,996 SF
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.
Gross rent
$220.2K $18.36/SF
− Vacancy
−$12.1K −$1.01/SF
EGI
$208.1K $17.35/SF
− OpEx
−$62.4K −$5.20/SF
NOI
$145.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,913,560
Cap Rate 7%
$2,081,114
Cap Rate 9%
$1,618,644
Alternative Uses
Best Use
Multifamily LT 5
$2.08M
$1.82M – $2.43M
NOI $145,678 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,247 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,431 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Five income-producing homes, including two duplexes and a six-bedroom residence, are offered as a package in Athens.
Where is this duplex located?
The property is located at 2815 Riverbend Athens, GA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Package of five income‑producing properties on Riverbend Road; Two duplexes with 5BR/5BA per side; One 6BR/6BA house with a two‑car garage
