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City View Apartments 1030 Dr Martin Luther King Pky 17 Unit Apartment Building $7,529,885 CAD ($442,934 CAD/Unit) Athens, GA 30601
Investment Highlights
- Parental Guarantees on Leases: The property has zero historical collection loss, a materially different risk profile than conventional multifamily
- Recession-Resistant Asset: Direct Access to UGA and Downtown Athens. UGA’s growing enrollment and Athens’ standing as a premier SEC college town
- Rents Below Every Direct Comparable: Rents are below the Athens market average and below direct comparables on the same street
- Basis Below Replacement Cost: At $84,615 per bedroom, City View offers an entry point well below what newer purpose-built student housing
Executive Summary
Marcus & Millichap is pleased to present the exclusive listing of City View Apartments in Athens, GA. City View Apartments offers the opportunity to acquire a cash-flowing student housing asset at UGA with below market rents at a meaningful discount to replacement cost. Current rents are below every direct comparable and below the Athens market average across all unit types — a condition driven by recent new supply in the submarket that has already begun normalizing. An incoming owner benefits from parental guarantees on every lease, zero historical collection loss, and a straightforward path to revenue growth in one of the top college markets in the US.
Property Features:
- Proximity to the University of Georgia & Downtown Athens: Located approximately ½ mile from downtown Athens and the UGA campus. UGA’s enrollment has grown every year for the past decade, surpassing 40,000 students in 2024 — making Athens one of the strongest and most consistent student housing markets in the country
- Purpose-Built Student Housing: The property features large 3–5 bedroom floor plans designed for student renters, allowing efficient leasing and strong demand from roommate groups
- Modern Unit Features: Units include in-unit washer and dryer, hardwood floors, updated appliances, and private balconies, amenities highly valued by student renters
- Large Bedroom Layouts with Private Baths: Many floor plans feature private bathrooms for each bedroom, a preferred configuration in the student housing market
- On-Site Parking Availability: The property offers off-street parking for residents, an important amenity for students living near campus
Deal Room Access: https://www.marcusmillichap.com/properties/202208/city-view-apartments
Property Features:
- Proximity to the University of Georgia & Downtown Athens: Located approximately ½ mile from downtown Athens and the UGA campus. UGA’s enrollment has grown every year for the past decade, surpassing 40,000 students in 2024 — making Athens one of the strongest and most consistent student housing markets in the country
- Purpose-Built Student Housing: The property features large 3–5 bedroom floor plans designed for student renters, allowing efficient leasing and strong demand from roommate groups
- Modern Unit Features: Units include in-unit washer and dryer, hardwood floors, updated appliances, and private balconies, amenities highly valued by student renters
- Large Bedroom Layouts with Private Baths: Many floor plans feature private bathrooms for each bedroom, a preferred configuration in the student housing market
- On-Site Parking Availability: The property offers off-street parking for residents, an important amenity for students living near campus
Deal Room Access: https://www.marcusmillichap.com/properties/202208/city-view-apartments
Property Facts
| Price | $7,529,885 CAD | Building Class | B |
| Price Per Unit | $442,934 CAD | Lot Size | 2.46 AC |
| Sale Type | Investment | Building Size | 23,000 SF |
| No. Units | 17 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2008 |
| Apartment Style | Garden | ||
| Zoning | RM-1 | ||
| Price | $7,529,885 CAD |
| Price Per Unit | $442,934 CAD |
| Sale Type | Investment |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.46 AC |
| Building Size | 23,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2008 |
| Zoning | RM-1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Walking/Biking Trails
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3 | 5 | - | - |
| 4+4 | 10 | - | - |
| 5+3 | 2 | - | - |
1 1
Property Taxes
| Parcel Number | 163A4-B-004 | Improvements Assessment | $2,434,635 CAD |
| Land Assessment | $331,368 CAD | Total Assessment | $2,766,003 CAD |
Property Taxes
Parcel Number
163A4-B-004
Land Assessment
$331,368 CAD
Improvements Assessment
$2,434,635 CAD
Total Assessment
$2,766,003 CAD
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City View Apartments | 1030 Dr Martin Luther King Pky
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