Historic Four-Unit Apartment
For Sale
$1,100,000
214 W Park Avenue W, Savannah, GA 31401
Fully leased apartments with off-street parking in Savannah’s Victorian Historic District.
Property Size3,932 SF
Price / SF$279.76
Days on Market227
Property Features for 214 W Park Avenue W
General Information
Standard status
Active
Size
3,932 SF
Property subtype
Multi-Family
Zoning
TN-1
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,606
Amenities
Crawl Space
Ceramic Tile,Hardwood
No
Yes
4
2+ Common Walls
2
Pull-Down Stairs
6
Assessor
Decorative
Pull Down Attic Stairs
Dryer,Refrigerator,Washer
Alley,City Lot,Interior Lot
Public
0.0744
Off Street
Asphalt,Paved
Balcony
Brick/Mortar,Crawlspace,Pillar/Post/Pier,Raised
Public Road
Public Maintained Road
Building Details
Building Size
3,932 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
eXp Realty LLC
(912) 233-6000
Listed By:
Margaret Amodio Federal · License #386205
(912) 921-9680
Source:
Baystreetrealtygroup
Added: Mar 4
Changed: Oct 16
Last Checked: Oct 16 at 7:35AM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1900, this 3,932-square-foot quadplex contains four apartments, each currently leased. The property retains period architectural details while serving as a fully occupied residential income asset, with off-street parking included.
The building is located at 214 W Park Ave in Savannah’s Victorian Historic District, one block from Forsyth Park and near multiple Savannah College of Art and Design campuses. Restaurants, shops, and neighborhood amenities are within walking distance, placing residents near downtown conveniences and established historic character.
The building is located at 214 W Park Ave in Savannah’s Victorian Historic District, one block from Forsyth Park and near multiple Savannah College of Art and Design campuses. Restaurants, shops, and neighborhood amenities are within walking distance, placing residents near downtown conveniences and established historic character.
Key Highlights
- Four‑unit apartment building with all units currently leased
- 3,932‑square‑foot property constructed in 1900
- Located in Savannah’s Victorian Historic District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,691
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$833,820
$833.8K
Cap Rate 7%
$595,586
$595.6K
Cap Rate 9%
$463,233
$463.2K
Market Conditions
NOI Build-Up for 3,932 SF
Gross rent
$63.7K $16.20/SF
− Vacancy
−$4.1K −$1.05/SF
EGI
$59.6K $15.15/SF
− OpEx
−$17.9K −$4.54/SF
NOI
$41.7K $10.60/SF
Area
Savannah, 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%
$833,820
Cap Rate 7%
$595,586
Cap Rate 9%
$463,233
Alternative Uses
Best Use
Multifamily LT 5
$595.6K
$521.1K – $694.9K
NOI $41,691 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$552.3K
$483.3K – $644.4K
NOI $38,663 @ 7.0% cap · market cap 3.51%
Theoretical Best
Warehouse
$3.67M
$3.22M – $4.29M
NOI $257,230 @ 7.0% cap · market cap 23.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,849
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?
Quadplex - Fully leased apartments with off-street parking in Savannah’s Victorian Historic District.
Where is this quadplex located?
The property is located at 214 W Park Avenue W Savannah, GA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four‑unit apartment building with all units currently leased; 3,932‑square‑foot property constructed in 1900; Located in Savannah’s Victorian Historic District
