28-Unit One-Bedroom Apartment
524 Vine Street, Athens, GA 30601
For Sale
$2,250,000
Residential Income, Athens, GA
Property Size14,760 SF
Lot Size1.49 Acres
Price / SF$152.44
Days on Market172
Property Features for 524 Vine Street
General Information
Property type
Property subtype
Zoning
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Appliances
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Building materials
Roof type
Architectural style
Listing Agency:
NAI Elrod Group
(706) 553-1000
Listed By:
Brian Elrod · License GA #251606
(678) 859-6110
Added: May 27
Changed: Oct 31
Last Checked: Nov 13 at 11:06PM
MLS# CL358092
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
Based on property information with market context.
524 Vine Street is a 28-unit apartment complex comprising one-bedroom, one-bath units throughout, supporting a consistent, easy-to-manage unit mix. The property includes a 14,760 SF apartment building constructed in 1985 on a 1.49-acre site. In addition to the apartment building, the site contains a 1,500 SF single-family residence that may provide added income potential through renovation and rental, or possible conversion to a duplex, subject to applicable zoning.
The property is located in East Athens and is accessible directly from Vine Street in Athens-Clarke County. It is within a short distance of downtown Athens, the University of Georgia, and Athens Regional Medical Center, aligning the location with year-round rental demand tied to nearby major employers and the university.
The current offering is for a 100% occupied apartment complex, supported by the property’s consistent unit configuration and on-site residence component within the RM-2 zoning district.
The property is located in East Athens and is accessible directly from Vine Street in Athens-Clarke County. It is within a short distance of downtown Athens, the University of Georgia, and Athens Regional Medical Center, aligning the location with year-round rental demand tied to nearby major employers and the university.
The current offering is for a 100% occupied apartment complex, supported by the property’s consistent unit configuration and on-site residence component within the RM-2 zoning district.
Key Highlights
- 28‑unit apartment complex on 1.49 acres in East Athens
- All units are 1‑bedroom, 1‑bath with 100% occupancy and NOI of $160,125
- 14,760 SF apartment building constructed in 1985 with brick construction and a metal roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,179
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,303,580
$3.3M
Cap Rate 7%
$2,359,700
$2.4M
Cap Rate 9%
$1,835,322
$1.8M
Market Conditions
NOI Build-Up for 14,760 SF
Gross rent
$318.8K $21.60/SF
− Vacancy
−$18.5K −$1.25/SF
EGI
$300.3K $20.35/SF
− OpEx
−$135.1K −$9.16/SF
NOI
$165.2K $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%
$3,303,580
Cap Rate 7%
$2,359,700
Cap Rate 9%
$1,835,322
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.06M – $2.75M
NOI $165,179 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.56M
$3.11M – $4.15M
NOI $249,073 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
28
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,458
Businesses Nearby
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Business Placement
Demographics for 30601, GA
25,036
Population
11,634
Households
2.2
Avg Household Size
28
Median Age
37%
College-Educated
84%
High-School Grad
23.4 sq mi
ZIP Area
1,070
Density / Sq Mi
$37,357
Median Household Income
$24,639
Median Earnings
$1,198
Median Rent
$213,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 28 one-bedroom, one-bath units in a 14,760 SF multifamily building on 1.49 acres, plus an on-site residence.
Where is this apartment building located?
The property is located at 524 Vine Street 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: 28‑unit apartment complex on 1.49 acres in East Athens; All units are 1‑bedroom, 1‑bath with 100% occupancy and NOI of $160,125; 14,760 SF apartment building constructed in 1985 with brick construction and a metal roof
