4-Unit Multifamily
For Sale
$1,050,000
3 Berkley Pl, Savannah, GA 31405
Updated four-unit property with in-unit laundry, furnished residences, and dedicated off-street parking.
Property Size5,460 SF
Price / SF$192.31
Days on Market207
Property Features for 3 Berkley Pl
General Information
Standard status
Active
Size
5,460 SF
Total Parking Spaces
8
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Amenities
washer & dryer
Listing Agency:
Six Bricks LLC
(912) 332-0465
Listed By:
Chelsea Phillips · License #349197
(912) 332-0465
Source:
Exprealty
Added: Feb 5
Changed: Aug 23
Last Checked: Aug 31 at 6:18PM
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 Six Bricks LLC
Investment Insights
Based on property information with market context.
This 5,460-square-foot quadplex contains four residential units with updated interiors and a mix of carpet and vinyl flooring. Each residence includes a washer and dryer. Units 3A and 3B convey furnished, providing two ready-to-use residences within the property. The building also includes eight off-street parking spaces.
The property is situated in Sylvan Terrace just off Bull Street, with access to Downtown, Derenne, area hospitals, and SCAD. Arcadia is next door, adding an established neighboring development to the immediate setting.
The property is situated in Sylvan Terrace just off Bull Street, with access to Downtown, Derenne, area hospitals, and SCAD. Arcadia is next door, adding an established neighboring development to the immediate setting.
Key Highlights
- 5,460‑square‑foot quadplex with 4 residential units
- Washer and dryer included in every unit
- Units 3A and 3B convey furnished
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,892
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,157,840
$1.2M
Cap Rate 7%
$827,029
$827.0K
Cap Rate 9%
$643,244
$643.2K
Market Conditions
NOI Build-Up for 5,460 SF
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.
Gross rent
$88.5K $16.20/SF
− Vacancy
−$5.7K −$1.05/SF
EGI
$82.7K $15.15/SF
− OpEx
−$24.8K −$4.54/SF
NOI
$57.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,157,840
Cap Rate 7%
$827,029
Cap Rate 9%
$643,244
Alternative Uses
Best Use
Multifamily LT 5
$827.0K
$723.7K – $964.9K
NOI $57,892 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$767.0K
$671.1K – $894.8K
NOI $53,688 @ 7.0% cap · market cap 5.11%
Theoretical Best
Warehouse
$5.10M
$4.46M – $5.95M
NOI $357,191 @ 7.0% cap · market cap 34.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
Explore this area
Business Placement
Demographics for 31405, GA
38,069
Population
16,809
Households
2.3
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
31.2 sq mi
ZIP Area
1,220
Density / Sq Mi
$62,123
Median Household Income
$35,836
Median Earnings
$1,431
Median Rent
$304,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated four-unit property with in-unit laundry, furnished residences, and dedicated off-street parking.
Where is this quadplex located?
The property is located at 3 Berkley Pl Savannah, GA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 5,460‑square‑foot quadplex with 4 residential units; Washer and dryer included in every unit; Units 3A and 3B convey furnished
