The Blakewood

Marcus & Millichap is pleased to present Blakewood Apartments, a 42-unit, 1980-vintage family community at 620 E. Olliff Street in Statesboro, Georgia. The property sits less than a mile from downtown Statesboro and about two miles from Georgia Southern University. It offers 10 one-bedroom, 20 two-bedroom, 8 three-bedroom and 4 four-bedroom units totaling about 35,400 rentable square feet.

Twenty-nine units (69%) are covered by a project-based Section 8 Housing Assistance Payment (HAP) contract with HUD that runs through April 30, 2035, more than eight years of government-backed income for a new owner. HAP rents rise every December 1 through HUD’s Operating Cost Adjustment Factor (OCAF). They have grown about 20.5% since the contract was renewed in December 2020, and Georgia’s 5.4% 2026 OCAF takes effect on December 1, 2026.

The property is 90.5% occupied (38 of 42 units), and three of the four vacant units are pre-leased for October 2026 move-ins. Residents stay: average tenure is 3.2 years, and nearly one in three households has been in place for more than five years. Statesboro is one of Southeast Georgia’s fastest-growing markets. Georgia Southern University opened fall 2026 with a record 34,500+ students, and the $7.6 billion Hyundai Metaplant and its supplier plants are bringing thousands of manufacturing jobs to the region.