5-Unit Brick Apartment
For Sale
$750,000
9 Hampstead Avenue, Savannah, GA 31405
Residential Income, Savannah, GA
Property Size4,752 SF
Lot Size0.24 Acres
Price / SF$157.83
Days on Market371
Property Features for 9 Hampstead Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 6, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 9, Bathroom 3, Bedroom 8, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 5, Bedroom 7, Bedroom 10, Bathroom 2
Fencing
Chain Link
Appliances
Some Electric Appliances, Electric Water Heater, Oven, Range, Refrigerator
Subdivision
Savannex Sub
Directions
Take Derenne Ave, turn left on White Bluff Rd (at Chick-fil-A), take a right on Hampstead and the Apartments are on the left.
Standard status
Active
APN
2012704007
Size
4,752 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
LOTS 6 AND 7, SAVANNEX SUB, MINGLEDORFF WD
Legal Description
LOTS 6 AND 7, SAVANNEX SUB, MINGLEDORFF WD
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
2
Number of units
5
Flooring type
Vinyl
Building materials
Brick
Roof type
Composition
Listing Agency:
Seaport Real Estate Group
(912) 202-2042
Listed By:
Andrew C. Myers · License #343717
(912) 659-0299
Added: Aug 27, 2025
Changed: Aug 20
Last Checked: Sep 1 at 10:06AM
MLS# SA337331
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.
Investment Insights
Based on property information with market context.
This 4,752-square-foot apartment property contains five units, each arranged with two bedrooms and one bathroom. Built in 1976, the brick building sits on 0.24 acres and includes vinyl flooring, central electric heating and cooling, electric water heating, and a composition roof. Unit appliances include ovens, ranges, and refrigerators.
All units are occupied, with long-term renters in place. The property is zoned RM and served by public water and public sewer. A chain-link fence defines the site, while the address places the building in Savannah, Georgia, within ZIP Code 31405.
All units are occupied, with long-term renters in place. The property is zoned RM and served by public water and public sewer. A chain-link fence defines the site, while the address places the building in Savannah, Georgia, within ZIP Code 31405.
Key Highlights
- Five‑unit apartment building with 2 bedrooms and 1 bathroom per unit
- 4,752 square feet on a 0.24‑acre site
- 100% occupancy with long‑term renters in place
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,726
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$934,520
$934.5K
Cap Rate 7%
$667,514
$667.5K
Cap Rate 9%
$519,178
$519.2K
Market Conditions
NOI Build-Up for 4,752 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$90.7K $19.08/SF
− Vacancy
−$5.7K −$1.20/SF
EGI
$85.0K $17.88/SF
− OpEx
−$38.2K −$8.05/SF
NOI
$46.7K $9.83/SF
Area
Savannah, GA
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$934,520
Cap Rate 7%
$667,514
Cap Rate 9%
$519,178
Alternative Uses
Best Use
Apartment 5plus
$667.5K
$584.1K – $778.8K
NOI $46,726 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.44M
$3.89M – $5.18M
NOI $310,874 @ 7.0% cap · market cap 41.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
928
Businesses Nearby
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five apartments feature two-bedroom, one-bath layouts with established occupancy and public utilities.
Where is this apartment building located?
The property is located at 9 Hampstead Avenue Savannah, GA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Five‑unit apartment building with 2 bedrooms and 1 bathroom per unit; 4,752 square feet on a 0.24‑acre site; 100% occupancy with long‑term renters in place
