Five-Unit Brick Apartment
For Sale
$750,000
9 Hampstead Ave, Savannah, GA 31405
All five apartments offer two-bedroom, one-bath layouts and are occupied by long-term renters.
Property Size4,752 SF
Price / SF$157.83
Days on Market19
Property Features for 9 Hampstead Ave
General Information
Standard status
Active
Size
4,752 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
5 x 2BR/1BA
Multifamily Units
5
Building Details
Year Built
1976
Construction
brick
Listing Agency:
Seaport Real Estate Group
(651) 644-9160
Listed By:
Andrew C. Myers
Source:
Patrickrealestate
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 30 at 7:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Seaport Real Estate Group
Investment Insights
Based on property information with market context.
This 5-unit brick apartment property contains 4,752 square feet and was built in 1976. The unit mix is consistent throughout, with each apartment configured as 2 bedrooms and 1 bathroom. The building is currently 100% occupied, with long-term renters in place across the property.
Located at 9 Hampstead Ave in Savannah, Georgia, the asset offers an established multifamily configuration suited to buyers seeking a compact apartment property with existing tenancy. Its uniform layouts provide a straightforward operating profile, while the brick construction and established occupancy define the property’s core physical and leasing characteristics.
Located at 9 Hampstead Ave in Savannah, Georgia, the asset offers an established multifamily configuration suited to buyers seeking a compact apartment property with existing tenancy. Its uniform layouts provide a straightforward operating profile, while the brick construction and established occupancy define the property’s core physical and leasing characteristics.
Key Highlights
- 5‑unit brick apartment building
- 4,752 square feet built in 1976
- Each unit includes 2 bedrooms and 1 bathroom
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
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Frequently Asked Questions
What type of property is this?
Apartment building - All five apartments offer two-bedroom, one-bath layouts and are occupied by long-term renters.
Where is this apartment building located?
The property is located at 9 Hampstead Ave 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: 5‑unit brick apartment building; 4,752 square feet built in 1976; Each unit includes 2 bedrooms and 1 bathroom
