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    The Largest CRE Database in the US with Over 1 Million Listings

    118 E Gaston St Savannah, GA 31401

    Sponsored
    For Sale
    $2,750,000

    MULTI_FAMILY - Victorian - Savannah, GA

    Property size:
    5,920 SF
    Lot size:
    0.07 Acres
    Days on Market:
    20
    Last Refresh:
    Feb 20 at 12:06 am

    Property Features for 118 E Gaston St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    RIPA
    Rooms
    Bedroom 1, Bedroom 8, Bathroom 2, Bedroom 7, Bathroom 5, Bedroom 6, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 4
    Bedrooms
    8
    Bathrooms
    5
    APN
    2003245009
    Parking features
    Off Street, Open, Underground/Basement
    Patio and Porch features
    Deck, Patio, Porch
    Interior features
    Ceiling Fan(s), Pull Down Attic Stairs, Wired for Sound, Programmable Thermostat
    Exterior features
    Balcony, Courtyard, Deck, Landscape Lights
    Fencing
    Fenced, Privacy
    Fireplace
    1
    Appliances
    Dishwasher, Electric Water Heater, Disposal, Microwave, Oven, Range, Washer, Dryer, Refrigerator
    Size
    5,920 SF
    Lot size
    0.07 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1870
    Floors in Building
    4
    Flooring type
    Tile - Ceramic, Hardwood
    Building materials
    Brick, Concrete, Stone, Stucco
    Roof type
    Asphalt
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Matthew Randolph
    Matthew Randolph

    Lighthouse Realty Professional (912) 224-3055

    Listing agent Matthew Randolph (912) 224-3055 License #348966

    Listing date Feb 1, 2026

    MLS# SA346210

    Copyright © 2026 HIVE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Savannah Multi-Family Residence

    Constructed in 1882 by J.J. Hale, this four-story multi-family property is located near Forsyth Park. Configured into three distinct living spaces, the property offers flexibility for investors, owner-occupants, or short-term rentals. The main residence spans three levels and includes 5 bedrooms and 2.5 baths, with period details and updated finishes. The garden-level apartment features a private 2-bedroom, 1-bath residence suitable for rental income, guests, or extended family. A separate carriage house above the private off-street garage includes a 1-bedroom, 1-bath suite. Full Non-Owner-Occupied STVR certificates provide flexibility to live in one unit while generating income from the others, or operate all units as short-term rentals. The property may also be conveyed fully furnished. Located in Savannah's downtown corridor, the property is near dining, shopping, and cultural landmarks. The lot size is 0.066 acres and the property size is 5920 square feet. The zoning is RIPA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Hair Salon Restaurant Nail Salon Law Firm Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.09341
    Latitude
    32.070037

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    FAQs

    What type of property is this?
    Multifamily property - Victorian multi-family property near Forsyth Park with income potential.
    Where is this multifamily property located?
    The property is located at 118 E Gaston St Savannah, GA.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: - Premier multi-family property with three distinct living spaces.; - Full Non-Owner-Occupied STVR certificates allow for flexible income generation.; - Located in Savannah's coveted downtown corridor, steps from Forsyth Park, dining, shopping, and cultural landmarks.
    (912) 547-6635
    Request Owner's contact information
    118 E Gaston St Savannah, GA 31401
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    Savannah, GA 31401
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    118 E Gaston St Savannah, GA 31401
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    We can help!
    Listing Contact
    Matthew Randolph
    Matthew Randolph
    Real Estate License ID: 348966
    (912) 547-6635 (912) 712-5130 (912) 224-3055
    Learn more
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