Apartment
For Sale
$539,000
1703 Reynolds Street, Savannah, GA 31401
The fully rented property offers an established residential income stream near downtown Savannah.
Property Size3,408 SF
Price / SF$158.16
Days on Market191
Property Features for 1703 Reynolds Street
General Information
Standard status
Active
Size
3,408 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
5
Tenant in Place
Yes
Building Details
Building Size
3,408 SF
Year Built
1900
Listing Agency:
Doris Thomas Realty, Inc
Listed By:
David Thomas · License #177638
(912) 272-3438
Source:
Coastwardrealty
Added: Apr 22
Changed: Oct 26
Last Checked: Oct 26 at 2:39PM
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 Doris Thomas Realty, Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,408-square-foot apartment building was constructed in 1900 and is currently fully rented. Recent updates and repairs have been completed, adding to the property's existing residential configuration.
The property is located near downtown Savannah at 1703 Reynolds Street.
The property is located near downtown Savannah at 1703 Reynolds Street.
Key Highlights
- 3,408 square feet of building area
- Built in 1900
- Fully rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,510
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,200
$670.2K
Cap Rate 7%
$478,714
$478.7K
Cap Rate 9%
$372,333
$372.3K
Market Conditions
NOI Build-Up for 3,408 SF
Gross rent
$65.0K $19.08/SF
− Vacancy
−$4.1K −$1.20/SF
EGI
$60.9K $17.88/SF
− OpEx
−$27.4K −$8.05/SF
NOI
$33.5K $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 Rate 5%
$670,200
Cap Rate 7%
$478,714
Cap Rate 9%
$372,333
Alternative Uses
Best Use
Apartment 5plus
$478.7K
$418.9K – $558.5K
NOI $33,510 @ 7.0% cap · market cap 6.22%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.18M
$2.79M – $3.72M
NOI $222,950 @ 7.0% cap · market cap 41.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 31401, GA
22,927
Population
11,832
Households
1.9
Avg Household Size
28
Median Age
48%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
6,743
Density / Sq Mi
$50,182
Median Household Income
$27,309
Median Earnings
$1,428
Median Rent
$477,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The fully rented property offers an established residential income stream near downtown Savannah.
Where is this apartment building located?
The property is located at 1703 Reynolds Street Savannah, GA.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: 3,408 square feet of building area; Built in 1900; Fully rented
