Southern Downs Apartment Community 710 Georgia Ave 214 Unit Apartment Building $21,000,000 ($98,131/Unit) 6.80% Cap Rate Statesboro, GA 30458

WELL MAINTAINED, STUDENT ASSET WITH GOOD BONES
Built in the early 1990s, Southern Downs is a 214-unit (622-bed) student housing community featuring spacious floorplans averaging 1,363 square feet. Current ownership has positioned the property for new ownership, complemented by a recently upgraded amenity package that includes a resort-style pool, clubhouse, study lounges, fitness studio, pickleball, basketball, and a white-sand beach lakefront.
DESIRABLE STUDENT MARKET
Statesboro is one of the Southeast’s strongest-performing student housing markets, supported by record enrollment growth and a growing regional economy. Georgia Southern University reached a record 27,506 students in Fall 2024, up 5.4% YoY, reflecting strong and rising housing demand. Growth in dual-enrollment programs further strengthens the pipeline for housing, while projected on-campus occupancy of 103% for Fall 2025 highlights limited supply and robust absorption.
EXPENSE REDUCTION INITIATIVE
Ownership is actively partnering with Georgia Power to implement a property-wide energy efficiency program designed to reduce electric expenses and improve overall operational performance.
INVESTMENT UPSIDE OPPORTUNITY
Immediate upside through improved leasing velocity and unit turnover, with long-term value driven by strong market fundamentals and the ability to acquire significant scale at an attractive basis.