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Scarborough Place & Sleepy Creek 2 Multifamily Properties Offered at $10,200,000 in Athens, GA
INVESTMENT HIGHLIGHTS
- Located in a high growth submarket of Athens, GA
- Property was built with condo specifications. Could potentially be sold off individually
- Large units; 2-bedroom units (1,400 SF) and 3 bedroom units (1,550 SF)
- Below market rents
- Owner owns 62 of the 72 total units of Scarborough Place Apartments and controls HOA
- 1982, 1986, and 1997 vintage
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present for sale Scarborough Place Apartments and Sleepy Townhouses. This offering presents a rare value-add opportunity in the rapidly growing Athens, GA market. Current rents trail the market by approximately $150–$200 per unit, providing immediate upside through rental adjustments, with minimal capital expenditures required. The property boasts a strong occupancy track record, historically operating at or near full capacity. Additionally, the property was built with condo specifications, offering the potential for individual condo sales. Athens is anchored by the University of Georgia and several of the state’s top medical institutions, fueling consistent housing demand and long-term investment stability.
PROPERTY FACTS
| Price | $10,200,000 | Number of Properties | 2 |
| Price / SF | $93.87 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 108,656 SF |
| Status | Active | Total Land Area | 6.21 AC |
| Price | $10,200,000 |
| Price / SF | $93.87 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 108,656 SF |
| Total Land Area | 6.21 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Scarborough Place
345 Research Dr, Athens, GA 30605 |
Multifamily | 104,000 SF | 1997 | - |
| 152 Sleepy Creek Dr, Athens, GA 30606 | Multifamily | 4,656 SF | 1982 | - |
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Scarborough Place & Sleepy Creek
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