28-Unit One-Bedroom Apartment
524 Vine Street Athens, GA 30601
For Sale
$2,250,000
MULTI_FAMILY - Other - Athens, GA
Property Size14,760 SF
Lot Size1.49 Acres
Price / SF$152.44
Days on Market63
Property Features for 524 Vine Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-2
Bedrooms
28
Bathrooms
28
Rooms
Bedroom 18, Bathroom 4, Bedroom 24, Bedroom 15, Bedroom 19, Bedroom 11, Bathroom 8, Bathroom 10, Bedroom 9, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 1, Bathroom 14, Bathroom 13, Bathroom 25, Bedroom 10, Bedroom 27, Bathroom 16, Bedroom 14, Bathroom 24, Bedroom 1, Bathroom 9, Bedroom 20, Bathroom 11, Bedroom 3, Bedroom 8, Bedroom 16, Bathroom 7, Bathroom 22, Bathroom 6, Bedroom 4, Bedroom 28, Bedroom 26, Bathroom 5, Bedroom 13, Bathroom 15, Bathroom 28, Bathroom 3, Bathroom 23, Bedroom 25, Bathroom 17, Bathroom 18, Bathroom 21, Bathroom 20, Bathroom 2, Bathroom 26, Bedroom 12, Bedroom 7, Bedroom 23, Bathroom 19, Bathroom 27, Bathroom 12, Bedroom 21, Bedroom 17, Bedroom 22
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
Electric, Wall Unit(s)
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Building materials
Brick
Roof type
Metal
Architectural style
Other
Listing Agency:
NAI Elrod Group
(706) 553-1000
Listed By:
Brian Elrod · License #251606
(678) 859-6110
Added: May 27
Changed: Jul 7
Last Checked: Jul 28 at 3:06AM
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.
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 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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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
