Brick Four-Unit
For Sale
$525,000
Pending
2511 Oak Forest Dr, Savannah, GA 31404
Four two-bedroom residences offer off-street parking and covered front porches near Savannah-area amenities.
Property Size3,190 SF
Days on Market65
Property Features for 2511 Oak Forest Dr
General Information
Standard status
Pending
Size
3,190 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$49,500
Amenities
off-street parking
covered front porches
Building Details
Year Built
1978
Buildings
1
Construction
brick
Listing Agency:
Better Homes and Gardens Real
Listed By:
Christopher C. Anderson · License #439242
(912) 237-9619
Source:
Searchgreateraugustahomes
Added: Aug 14
Changed: Oct 15
Last Checked: Oct 16 at 9:17AM
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 Better Homes and Gardens Real
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Investment Insights
Based on property information with market context.
This brick quadplex contains four residential units within 3,190 square feet, with a consistent two-bedroom, one-bath layout across the property. Built in 1978, the building includes covered front porches and off-street parking. Three units are leased, while one is available for occupancy or leasing.
The property sits outside the Savannah city limits and is located near Savannah State University, shopping, restaurants, hospitals, and major commuter routes. Its four-unit configuration provides an established rental setup with one vacancy available for a new occupant or lease-up.
The property sits outside the Savannah city limits and is located near Savannah State University, shopping, restaurants, hospitals, and major commuter routes. Its four-unit configuration provides an established rental setup with one vacancy available for a new occupant or lease-up.
Key Highlights
- Four‑unit quadplex with 3,190 SF of building area
- Each unit features 2 bedrooms and 1 bath
- Three units leased; one unit currently available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,823
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$676,460
$676.5K
Cap Rate 7%
$483,186
$483.2K
Cap Rate 9%
$375,811
$375.8K
Market Conditions
NOI Build-Up for 3,190 SF
Gross rent
$51.7K $16.20/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$48.3K $15.15/SF
− OpEx
−$14.5K −$4.54/SF
NOI
$33.8K $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%
$676,460
Cap Rate 7%
$483,186
Cap Rate 9%
$375,811
Alternative Uses
Best Use
Multifamily LT 5
$483.2K
$422.8K – $563.7K
NOI $33,823 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$448.1K
$392.1K – $522.8K
NOI $31,367 @ 7.0% cap · market cap 5.97%
Theoretical Best
Warehouse
$2.98M
$2.61M – $3.48M
NOI $208,688 @ 7.0% cap · market cap 39.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
224
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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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 - Four two-bedroom residences offer off-street parking and covered front porches near Savannah-area amenities.
Where is this quadplex located?
The property is located at 2511 Oak Forest Dr Savannah, GA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,190 SF of building area; Each unit features 2 bedrooms and 1 bath; Three units leased; one unit currently available
