Six-Bedroom Duplex with
New
For Sale
$895,000
607 Lovell Avenue, Tybee Island, GA 31328
Residential Income, Tybee Island, GA
Property Size2,960 SF
Lot Size0.11 Acres
Price / SF$302.36
Days on Market2
Property Features for 607 Lovell Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Zoning description
Multi Family, Single Family
Bedrooms
6
Bathrooms
3
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 2
Parking features
Off Street
Patio and Porch features
Porch, Patio, Deck
Interior features
Ceiling Fan(s), Pull Down Attic Stairs
Exterior features
Balcony, Deck
Fireplace
1
Appliances
Dishwasher, Electric Water Heater, Dryer, Refrigerator, Washer
Lot features
Interior Lot
Directions
Butler Ave > right on 6th> left on Lovell> home is on the right
Standard status
Active
APN
4000511011
Size
2,960 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 46A RECOMBINATION OF
Tax Annual Amount
10135
Legal Description
LOT 46A RECOMBINATION OF
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Wall Furnace, Electric (Heating)
Cooling system
Central Air, Window Unit(s), Wall Unit(s), Electric
Water source
Public
Amenities
deck
patio
outdoor showers
storage area
Building Details
Year built
1974
Floors in Building
2
Number of units
2
Building materials
Frame
Roof type
Asphalt
Architectural style
Contemporary
Buildings
1
Listing Agency:
Keller Williams Coastal Area P · Keller Williams Realty
(912) 356-5001
Listed By:
Libby Bacon · License #267763
(912) 272-3776
Added: Nov 5
Last Checked: Nov 6 at 8:06AM
MLS# SA367715
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.
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Investment Insights
Based on property information with market context.
This 2,960-square-foot duplex on a 0.11-acre lot contains two furnished residences with a combined six bedrooms. The upper unit has three bedrooms, two bathrooms, central heating and air, pine floors, and a large deck. The lower unit includes three bedrooms, one bathroom, a renovated kitchen, new flooring, and mini-split systems. Both units have dedicated outdoor areas, and the property also has two outdoor showers, a downstairs storage area, and off-street parking. Zoning is R2.
The home is a two-block walk from the beach. Improvements include a roof and lower-level mini-splits replaced in 2022, sewer lines replaced in 2019, replacement windows throughout except in the upstairs sunroom, renovated bathrooms, and exterior painting in 2026. The property has an active short-term rental license. Under the ordinance scheduled to take effect in January 2027, qualifying existing short-term rental properties may be eligible for a one-time certificate outside the sector cap, subject to City approval and applicable requirements.
The home is a two-block walk from the beach. Improvements include a roof and lower-level mini-splits replaced in 2022, sewer lines replaced in 2019, replacement windows throughout except in the upstairs sunroom, renovated bathrooms, and exterior painting in 2026. The property has an active short-term rental license. Under the ordinance scheduled to take effect in January 2027, qualifying existing short-term rental properties may be eligible for a one-time certificate outside the sector cap, subject to City approval and applicable requirements.
Key Highlights
- Duplex with two units, six bedrooms, and 2,960 square feet
- 0.11‑acre lot with R2 zoning
- Two‑block walk to the beach
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,385
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,700
$627.7K
Cap Rate 7%
$448,357
$448.4K
Cap Rate 9%
$348,722
$348.7K
Market Conditions
NOI Build-Up for 2,960 SF
Gross rent
$48.0K $16.20/SF
− Vacancy
−$3.1K −$1.05/SF
EGI
$44.8K $15.15/SF
− OpEx
−$13.5K −$4.54/SF
NOI
$31.4K $10.60/SF
Area
Chatham County, 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%
$627,700
Cap Rate 7%
$448,357
Cap Rate 9%
$348,722
Alternative Uses
Best Use
Multifamily LT 5
$448.4K
$392.3K – $523.1K
NOI $31,385 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$415.8K
$363.8K – $485.1K
NOI $29,105 @ 7.0% cap · market cap 3.25%
Theoretical Best
Warehouse
$2.77M
$2.42M – $3.23M
NOI $193,642 @ 7.0% cap · market cap 21.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
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Business Placement
Demographics for 31328, GA
3,430
Population
3,490
Households
1
Avg Household Size
60
Median Age
49%
College-Educated
97%
High-School Grad
9.2 sq mi
ZIP Area
373
Density / Sq Mi
$105,669
Median Household Income
$42,280
Median Earnings
$1,205
Median Rent
$615,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two furnished residences include separate outdoor spaces and an active short-term rental license.
Where is this duplex located?
The property is located at 607 Lovell Avenue Tybee Island, GA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Duplex with two units, six bedrooms, and 2,960 square feet; 0.11‑acre lot with R2 zoning; Two‑block walk to the beach
