Historic Four-Unit Cottage with
New
For Sale
$1,150,000
1115 Jones Avenue, Tybee Island, GA 31328
Residential Income, Tybee Island, GA
Property Size3,250 SF
Lot Size0.50 Acres
Price / SF$353.85
Days on Market2
Property Features for 1115 Jones Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Zoning description
Multi Family
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bathroom 5, Bathroom 2, Bathroom 3, Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 6, Bathroom 6, Bedroom 3
Parking features
Garage, Off Street, RV, Parking Lot
Patio and Porch features
Patio, Porch, Deck
Interior features
Pull Down Attic Stairs
Exterior features
Balcony, Courtyard, Deck, Gas Grill, Outdoor Grill
Fencing
Fenced, Chain Link
Fireplace
1
Appliances
Some Electric Appliances, Dryer, Dishwasher, Electric Water Heater, Microwave, Oven, Range, Refrigerator, Washer
Lot features
Corner Lot
Directions
Located on the corner of Jones Ave. and 12th St.
Standard status
Active
APN
4000622008
Size
3,250 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Description
LOT A RECOMBINATION OF LOTS 1 & 2 WARD 3 TYBEE PRB 43P 21 .50AC
Legal Description
LOT A RECOMBINATION OF LOTS 1 & 2 WARD 3 TYBEE PRB 43P 21 .50AC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Water front features
Creek, Beach Access
Amenities
Gunite Pool
Screened Porches
Full Kitchens
Washer/Dryer
Original Hardwood Floors
Custom Kitchen w/Granite Countertops
Sunroom
Large Screened Wrap-Around Porch w/Ping Pong Table
Covered Outdoor Kitchen Pavilion by Pool Area
Building Details
Year built
1924
Floors in Building
2
Number of units
4
Flooring type
Tile, Hardwood
Building materials
Wood Siding
Roof type
Composition
Architectural style
Other
Additional Structures
Pool House
Listing Agency:
Jenny Rutherford Real Estate,
(912) 388-2828
Listed By:
Jennifer L. Rutherford · License #343627
(912) 414-7155
Added: Oct 26
Last Checked: Oct 27 at 4:06PM
MLS# SA367145
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.
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Investment Insights
Based on property information with market context.
Built in 1924, this four-unit property includes a 3,250-square-foot main house and a separate backyard studio cottage. The main residence is arranged as three apartments: an upstairs three-bedroom, three-bath unit and two downstairs one-bedroom, one-bath units. The upper apartment has hardwood floors, a kitchen open to the dining area, a sunroom, and a wraparound screened porch. The studio cottage overlooks the marsh. A gunite pool and covered outdoor kitchen pavilion serve the outdoor area. The property is offered furnished and has an active short-term vacation rental certificate.
Set on a half-acre corner lot, the property is four blocks from the beach and within walking distance of local restaurants. The home was built in 1924, and the zoning is R2. Transfer of the existing certificate may be eligible for a one-time transfer beginning January 1, 2027, subject to city requirements and approval.
Set on a half-acre corner lot, the property is four blocks from the beach and within walking distance of local restaurants. The home was built in 1924, and the zoning is R2. Transfer of the existing certificate may be eligible for a one-time transfer beginning January 1, 2027, subject to city requirements and approval.
Key Highlights
- Four units: three apartments in the main house and a separate studio cottage
- 3,250‑square‑foot main house on a 0.5‑acre corner lot
- Built in 1924; zoned R2
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,459
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,180
$689.2K
Cap Rate 7%
$492,271
$492.3K
Cap Rate 9%
$382,878
$382.9K
Market Conditions
NOI Build-Up for 3,250 SF
Gross rent
$52.7K $16.20/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$49.2K $15.15/SF
− OpEx
−$14.8K −$4.54/SF
NOI
$34.5K $10.60/SF
Area
Chatham County, GA
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,180
Cap Rate 7%
$492,271
Cap Rate 9%
$382,878
Alternative Uses
Best Use
Multifamily LT 5
$492.3K
$430.7K – $574.3K
NOI $34,459 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$456.5K
$399.5K – $532.6K
NOI $31,957 @ 7.0% cap · market cap 2.78%
Theoretical Best
Warehouse
$3.04M
$2.66M – $3.54M
NOI $212,613 @ 7.0% cap · market cap 18.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
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Business Placement
Demographics for 31328, GA
3,430
Population
3,490
Households
1
Avg Household Size
60
Median Age
49%
College-Educated
97%
High-School Grad
9.2 sq mi
ZIP Area
373
Density / Sq Mi
$105,669
Median Household Income
$42,280
Median Earnings
$1,205
Median Rent
$615,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Three main-house apartments and a separate studio offer distinct living spaces with kitchens and screened porches.
Where is this quadplex located?
The property is located at 1115 Jones Avenue Tybee Island, GA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Four units: three apartments in the main house and a separate studio cottage; 3,250‑square‑foot main house on a 0.5‑acre corner lot; Built in 1924; zoned R2
