Georgetown Apartments Near UGA
350 S Pope St, Athens, GA 30605
Call to check price and availability
22-bed, 10-unit complex near UGA with high occupancy.
Type:Multifamily
Property size:
15,525 SFPrice / SF:
$209/SF- Added:
- Mar 24, 2026
- Days on Market:
- 64
- Last Refresh:
- Mar 25 at 8:49 am
Property Features for 350 S Pope St
General Information
- Standard status
- Active
- Size
- 15,525 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1968
Listing agent Josh Chandler License #GA 434395
Listing office Athens Real Estate Group (706) 207-2521
Listing date Mar 24, 2026
Source Crexi
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 Athens Real Estate Group
HighLights
- Grandfathered status allows for higher unit density than current zoning permits, offering significant investment upside.
- Proximity to UGA and Downtown Athens makes it attractive to students and young professionals.
- High historical occupancy rates demonstrate strong rental demand.
- Unit mix of (8) 2 bed/2 bath and (2) 3 bed/2 bath apartments caters to a diverse tenant base.
- Potential for conversion to upscale condo units for resale without density changes.
- Off‑street parking (open and covered) and on‑site laundry center provide convenient amenities for tenants.
Overview
The Georgetown Apartment complex, located near downtown Athens, GA, and the UGA campus, features 10 units with 22 beds. The property is grandfathered in for a higher unit density than allowed by current zoning standards. The complex consists of eight 2-bed/2-bath units and two 3-bed/2-bath units. The units have a history of high occupancy, with all but one unit currently tenant-occupied; this unit requires significant rehabilitation. The property includes off-street parking with a mix of open and covered spaces, and a central on-site laundry center. The property is being offered in AS-IS condition, with ownership recognizing the need for extensive renovation to drive the property to its full market potential. There is potential for conversion to upscale condo units for resale without changing density count, given the proximity to UGA and Downtown Athens. The property size is 15525 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.93M
NOI $173,740 @ 9.00% cap · cautious / downside scenario
Moderate
$2.48M
NOI $173,740 @ 7.00% cap · market / base-case scenario
Aggressive
$3.47M
NOI $173,740 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $335.3k | $21.60 |
| − Vacancy | −$19.4k | −$1.25 |
| EGI | $315.9k | $20.35 |
| − OpEx | −$142.2k | −$9.16 |
| NOI | $173.7k | $11.19 |
15,525 SF · lease $21.60/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$2.48M
$2.17M – $2.90M
NOI $173,740 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.74M
$3.27M – $4.37M
NOI $261,983 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Georgetown Apartments
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Athens
- County
- Clarke
- State
- Georgia
- Longitude
- -83.3849478
- Latitude
- 33.9587589
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 22-bed, 10-unit complex near UGA with high occupancy.
Where is this apartment building located?
The property is located at 350 S Pope St Athens, GA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Grandfathered status allows for higher unit density than current zoning permits, offering significant investment upside.; Proximity to UGA and Downtown Athens makes it attractive to students and young professionals.; High historical occupancy rates demonstrate strong rental demand.
