Two-Unit Masonry
For Sale
$279,900
2221 & 2223 Delesseps Ave, Savannah, GA 31404
Single-level construction includes two tenant-occupied rental units.
Property Size1,592 SF
Price / SF$175.82
Days on Market83
Property Features for 2221 & 2223 Delesseps Ave
General Information
Standard status
Active
Size
1,592 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1959
Buildings
1
Stories
1
Construction
masonry
Listing Agency:
The Allen Real Estate Group
Listed By:
Larry C. Allen · License #305104
(912) 596-1378
Source:
Ginesandburnsed.searchhomesinsavannah
Added: Jul 25
Changed: Oct 1
Last Checked: Oct 14 at 11:25PM
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 The Allen Real Estate Group
Investment Insights
Based on property information with market context.
This 1,592-square-foot duplex contains two separate two-bedroom, one-bath residences within a one-story masonry structure. Both units are occupied by tenants, providing established rental occupancy, and the property is offered as-is. Constructed in 1959, the building’s single-level layout supports straightforward access between the residences.
The property is located at 2221 & 2223 DeLesseps Ave in Savannah’s LaRoche Park area, with access to Midtown, downtown Savannah, Truman Parkway, Savannah State University, medical facilities, shopping, and dining. The DeLesseps corridor includes City improvements such as sidewalks, bike lanes, drainage work, and upgraded pedestrian facilities.
The property is located at 2221 & 2223 DeLesseps Ave in Savannah’s LaRoche Park area, with access to Midtown, downtown Savannah, Truman Parkway, Savannah State University, medical facilities, shopping, and dining. The DeLesseps corridor includes City improvements such as sidewalks, bike lanes, drainage work, and upgraded pedestrian facilities.
Key Highlights
- 1,592 SF duplex with two separate residential units
- Two 2‑bedroom, 1‑bath units
- Both units are currently tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,880
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,600
$337.6K
Cap Rate 7%
$241,143
$241.1K
Cap Rate 9%
$187,556
$187.6K
Market Conditions
NOI Build-Up for 1,592 SF
Gross rent
$25.8K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$24.1K $15.15/SF
− OpEx
−$7.2K −$4.54/SF
NOI
$16.9K $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%
$337,600
Cap Rate 7%
$241,143
Cap Rate 9%
$187,556
Alternative Uses
Best Use
Multifamily LT 5
$241.1K
$211.0K – $281.3K
NOI $16,880 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$223.6K
$195.7K – $260.9K
NOI $15,654 @ 7.0% cap · market cap 5.59%
Theoretical Best
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,148 @ 7.0% cap · market cap 37.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Explore this area
Business Placement
Demographics for 31404, GA
31,530
Population
14,427
Households
2.2
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
13.7 sq mi
ZIP Area
2,301
Density / Sq Mi
$49,805
Median Household Income
$31,620
Median Earnings
$1,199
Median Rent
$193,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Single-level construction includes two tenant-occupied rental units.
Where is this duplex located?
The property is located at 2221 & 2223 Delesseps Ave Savannah, GA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1,592 SF duplex with two separate residential units; Two 2‑bedroom, 1‑bath units; Both units are currently tenant‑occupied
