280 Harve Mathis Rd.
Athens, GA 30601 East Athens

Potential “affordable” senior housing 55+ community development in a prime university town on ± 8.47 acres consisting of forty (40) single family villas (± 1,200 SF to 1,500 SF) three bedroom/two bath units, with a ± 3,000 SF activity Center and two Pickleball Courts. The project is situated on a ± 8.47-acre landsite zoned as Commercial Rural (CR) with approved uses for Class A Manufactured Homes (P). Qualified HUBZone. Under market price; average market price within 15 miles per acre is $461,107; priced at $141,677 per acre.


The development has access to all utilities with a planned wastewater treatment facility saving on county sewer connection fees. The property is located in a fast commercially growing area of Athens in Clarke County, 6.9 miles from the campus of THE UNIVERSITY OF GEORGIA. 

FINANCIAL HIGHLIGHTS
Owner Financing via an IRC § 453 installment Sale
o	5-Year Term
o	20% Down payment
o	5% Interest
o	First 3-Years Interest Only
o	7% CAP value of $11,664,000 at stabilization and a development cost of $7,135,659; potential unlevered gross profit is $4,528,341 or $3,217,761 levered.

Disclaimer: While the information is deemed reliable, no warranty is expressed or implied. Any information important to you or another party should be independently confirmed 
within an applicable due diligence period.