Four-Unit Multifamily with Long-Term
138 W 51st Street Savannah, GA 31405
138 W 51st Street, Savannah, GA, 31405
$935,000
For Sale
$935,000
MULTI_FAMILY - Colonial - Savannah, GA
Property Size4,000 SF
Lot Size0.15 Acres
Price / SF$233.75
Days on Market56
Property Features for 138 W 51st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Zoning
- RM25
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 2
- Parking features
- Off Street, Parking Lot
- Appliances
- Dishwasher, Electric Water Heater, Oven, Range, Refrigerator
- Standard status
- Active
- APN
- 2-0088-17-025
- Size
- 4,000 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2018
- Tax Description
- LOTS 85 & 86 WRIGHT WARD
- Tax Annual Amount
- 3082
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1950
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Hardwood, Tile
- Building materials
- Brick, Stucco
- Roof type
- Asphalt
- Architectural style
- Colonial
Listing Agency
Seaport Real Estate Group
(912) 202-2042
7301 Waters Avenue, Savannah, GA
Listed by
Victoria Williams Adcock · License #412102
(912) 481-8379
Added: May 27 Updated: Jul 18 at 7:22 am Checked: Jul 21 at 2:06 am
MLS# SA352315
Listing URL
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 for-sale quadplex is fully occupied and configured with two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. The property size is listed as 4,000 square feet and sits on a 0.145-acre lot. Public remarks note that long-term tenants are already in place, with existing rental rates referenced as supporting immediate income upon acquisition.
The building is located at 138 W 51st Street in Savannah, Georgia (31405). Public remarks describe the asset as being just outside the Historic Street Car District on the city’s West Side, with nearby area draws including Starland Yard, Ardsley Station, Victory North, and Two Tides Brewing Co. The remarks also reference SCAD-related facilities and note that Byte Cafe is directly across the street.
From a tenant and operator standpoint, the mix of two larger and two smaller layouts can support a range of household needs within one property. The zoning is listed as RM25, and the public remarks additionally state C-3 zoning, which they describe as offering flexibility for future redevelopment (subject to applicable approvals). The listing also notes an assumable VA loan with a 4.25% interest rate, subject to lender approval and qualification.
The building is located at 138 W 51st Street in Savannah, Georgia (31405). Public remarks describe the asset as being just outside the Historic Street Car District on the city’s West Side, with nearby area draws including Starland Yard, Ardsley Station, Victory North, and Two Tides Brewing Co. The remarks also reference SCAD-related facilities and note that Byte Cafe is directly across the street.
From a tenant and operator standpoint, the mix of two larger and two smaller layouts can support a range of household needs within one property. The zoning is listed as RM25, and the public remarks additionally state C-3 zoning, which they describe as offering flexibility for future redevelopment (subject to applicable approvals). The listing also notes an assumable VA loan with a 4.25% interest rate, subject to lender approval and qualification.
Key Highlights
- Fully occupied multifamily with two 2BD/1BA units and two 1BD/1BA units
- Long‑term tenants in place with existing rental income
- C‑3 zoning for additional flexibility and future redevelopment potential
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $16.20 |
| − Vacancy | −$4.2k | −$1.05 |
| EGI | $60.6k | $15.15 |
| − OpEx | −$18.2k | −$4.54 |
| NOI | $42.4k | $10.60 |
4,000 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$605.9K
$530.2K – $706.9K
NOI $42,412 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$561.9K
$491.7K – $655.5K
NOI $39,332 @ 7.0% cap · market cap 4.21%
Theoretical Best
Warehouse
$3.74M
$3.27M – $4.36M
NOI $261,678 @ 7.0% cap · market cap 27.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully occupied quadplex with two 2BD/1BA and two 1BD/1BA units, offering stable rental income and straightforward leasing mix.
Where is this quadplex located?
The property is located at 138 W 51st Street Savannah, GA.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Fully occupied multifamily with two 2BD/1BA units and two 1BD/1BA units; Long‑term tenants in place with existing rental income; C‑3 zoning for additional flexibility and future redevelopment potential
