Property at 495 Milledge Avenue
Residential Income
Active
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495 Milledge Avenue

Athens, GA 30605

$2,420,000
$218.96/sq ft
ID# CL351579
22 Bedrooms
19.0 Bathrooms
11,052 sq ft
Built 1953

Property Description

Athens Real Estate Group is please to offer the exclusive listing of the Gran Ellen Apartment complex in heart of Athens, GA. Located at the corner of S. Milledge Avenue and Baxter Street, notably one of the most prominent intersections in and around the UGA Campus, this 17 unit, 22 Bed apartment complex offers unique opportunity and upside for willing investors as it is grandfathered in for a higher unit density than allowed by current zoning standards. This property consists of (4) 2 bed/1.5 bath units, (1) 2 bed/1 bath unit, and (12) 1 bed/1bath units that all offer a history of high occupancy with all but two units, which need significant rehab, currently being tenant occupied. Ownership recognizes the need for extensive renovation to truly drive this property to its full market potential and are offering the property in AS-IS condition. Please see Agent remarks for tour, contact, and offer information or email listing agent.

Property Details

Property Type Residential Income
Property Sub Type Multi Family
Status Active
List Price $2,420,000
List Date March 3, 2026
Lot Size 0.83 acres
Property ID CL351579

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Property Location

Athens, GA 30605