28-Unit One-Bedroom Apartment
524 Vine Street, Athens, GA 30601
MULTI_FAMILY - Other - Athens, GA
Property size:
14,760 SFLot size:
1.49 AcresPrice / SF:
$152/SF- Added:
- May 27, 2026
- Days on Market:
- 22
- Last Refresh:
- Jun 17 at 7:06 am
Property Features for 524 Vine Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM-2
- Bedrooms
- 28
- Bathrooms
- 28
- Rooms
- Bathroom 20, Bathroom 17, Bedroom 26, Bathroom 6, Bedroom 23, Bathroom 25, Bathroom 14, Bedroom 4, Bedroom 27, Bathroom 19, Bathroom 15, Bathroom 2, Bedroom 3, Bedroom 15, Bedroom 7, Bedroom 18, Bedroom 11, Bathroom 24, Bedroom 28, Bathroom 12, Bathroom 23, Bathroom 13, Bedroom 9, Bedroom 13, Bedroom 14, Bedroom 22, Bathroom 8, Bathroom 21, Bathroom 18, Bedroom 16, Bedroom 12, Bedroom 10, Bathroom 3, Bathroom 27, Bathroom 10, Bathroom 9, Bathroom 5, Bathroom 28, Bedroom 25, Bedroom 8, Bedroom 17, Bathroom 22, Bedroom 21, Bedroom 19, Bedroom 1, Bathroom 4, Bedroom 24, Bathroom 11, Bathroom 16, Bathroom 1, Bedroom 2, Bathroom 26, Bedroom 6, Bedroom 20, Bedroom 5, Bathroom 7
- Appliances
- Electric Water Heater
- Standard status
- Active
- APN
- 172A4 B002
- Size
- 14,760 SF
- Lot size
- 1.49 Acres
Taxes and HOA fees
- Tax Description
- 5151 316
Utilities
- Sewer type
- Public Sewer
- Heating system
- Wall Furnace, Electric (Heating)
- Cooling system
- Wall Unit(s), Electric
- Water source
- Public
Building Details
- Year built
- 1985
- Floors in Building
- 2
- Building materials
- Brick
- Roof type
- Metal
- Architectural style
- Other
Listing agent Brian Elrod License #251606 (678) 859-6110
Listing office NAI Elrod Group 3651 Mars Hill Road, Suite 2200, Watkinsville, GA (706) 553-1000
Listing date May 27, 2026
MLS# CL358092
Listing URL
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.
HighLights
- 28‑unit apartment complex with all units being 1‑bedroom, 1‑bath
- 14,760 SF building constructed in 1985 on a 1.49‑acre site in East Athens
- Property is 100% occupied with NOI of $160,125
- On‑site 1,500 SF single‑family residence for added income potential via renovation, or possible conversion to a duplex subject to zoning
- Brick construction with metal roof; utilities include public water and public sewer
Overview
The property at 524 Vine Street is a 28-unit apartment complex totaling 14,760 square feet, constructed in 1985 and situated on a 1.49-acre site in East Athens. All 28 units are one-bedroom, one-bath, creating a consistent and easy-to-manage unit mix. The complex is currently 100% occupied and is described with an NOI of $160,125. The site also includes a 1,500-square-foot single-family residence that may offer additional buyer options through renovation and rental, or possible conversion to a duplex, subject to applicable zoning.
Access is provided directly from Vine Street in Athens-Clarke County. The location is described as less than a mile from downtown and the University of Georgia campus, with Athens Regional Medical Center also within a short distance, supported as part of a rental market with consistent year-round demand.
This offering may appeal to buyers looking for a multifamily asset with a uniform one-bedroom program and existing occupancy. The included second residence provides additional flexibility for buyers considering renovation and rental income, or a future layout adjustment consistent with RM-2 zoning and any applicable requirements.
Access is provided directly from Vine Street in Athens-Clarke County. The location is described as less than a mile from downtown and the University of Georgia campus, with Athens Regional Medical Center also within a short distance, supported as part of a rental market with consistent year-round demand.
This offering may appeal to buyers looking for a multifamily asset with a uniform one-bedroom program and existing occupancy. The included second residence provides additional flexibility for buyers considering renovation and rental income, or a future layout adjustment consistent with RM-2 zoning and any applicable requirements.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $318.8k | $21.60 |
| − Vacancy | −$18.5k | −$1.25 |
| EGI | $300.3k | $20.35 |
| − OpEx | −$135.1k | −$9.16 |
| NOI | $165.2k | $11.19 |
14,760 SF · lease $21.60/SF/yr · vacancy 5.80% · expense 45.00%
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Location Insight
- Map
- Local Demand
- City
- Athens
- County
- Clarke
- State
- Georgia
- Longitude
- -83.3558266
- Latitude
- 33.9558089
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 28-unit complex with uniform one-bedroom floorplans and an additional on-site residence opportunity.
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 with all units being 1‑bedroom, 1‑bath; 14,760 SF building constructed in 1985 on a 1.49‑acre site in East Athens; Property is 100% occupied with NOI of $160,125
