Savannah Triplex with Development
603 W 40th Street Savannah, GA 31415
For Sale
$450,000
MULTI_FAMILY - Other - Savannah, GA
Property Size2,640 SF
Lot Size0.16 Acres
Price / SF$170.45
Days on Market135
Property Features for 603 W 40th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
TR1
Bedrooms
6
Bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 5
Parking features
Garage, Off Street, Parking Lot, On Street
Patio and Porch features
Porch
Fencing
Fenced, Privacy
Appliances
Electric Water Heater, Oven, Range, Refrigerator
Standard status
Active
APN
2007326010
Size
2,640 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
2 3 STILES WD
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
4
Roof type
Asphalt
Architectural style
Other
Listing Agency:
McIntosh Realty Team LLC
(912) 436-6551
Listed By:
Sarah Sullivan · License #419783
(912) 346-7109
Added: Mar 18
Changed: Jul 18
Last Checked: Jul 30 at 7:06AM
MLS# SA351527
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This spacious triplex presents a value-add opportunity for investors. The property features three generously sized units, on-site parking, and a large fenced lot with potential for future development, including the possibility of an additional unit, subject to zoning and city approval. The property is conveniently situated near Thomas Square, downtown Savannah, SCAD, Enmarket Arena, and the Georgia Ports, providing access to key attractions and amenities, including Forsyth Park and Daffin Park. The lot size is 0.158 acres and the property size is 2640 square feet. The zoning is TR1. This property is being sold as-is, presenting a fantastic opportunity for investors to capitalize on a growing neighborhood.
Key Highlights
- Triplex built in 1940 with central heating and central air
- 3‑unit property with multiple bedrooms (Bedroom 1‑6) and 4 bathrooms (Bathroom 1‑4)
- Large fenced lot with privacy fencing; includes a porch
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.8k | $16.20 |
| − Vacancy | −$2.8k | −$1.05 |
| EGI | $40.0k | $15.15 |
| − OpEx | −$12.0k | −$4.54 |
| NOI | $28.0k | $10.60 |
2,640 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$399.9K
$349.9K – $466.5K
NOI $27,992 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$370.8K
$324.5K – $432.7K
NOI $25,959 @ 7.0% cap · market cap 5.77%
Theoretical Best
Warehouse
$2.47M
$2.16M – $2.88M
NOI $172,708 @ 7.0% cap · market cap 38.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Spacious triplex near downtown Savannah with value-add opportunity.
Where is this triplex located?
The property is located at 603 W 40th Street Savannah, GA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Triplex built in 1940 with central heating and central air; 3‑unit property with multiple bedrooms (Bedroom 1‑6) and 4 bathrooms (Bathroom 1‑4); Large fenced lot with privacy fencing; includes a porch
