Four-Unit Residential Income
New
For Sale
$595,000
7224 Johnny Mercer Boulevard, Savannah, GA 31410
Residential Income, Savannah, GA
Property Size3,736 SF
Lot Size0.26 Acres
Price / SF$159.26
Days on Market3
Property Features for 7224 Johnny Mercer Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
PR3-16
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 7, Bathroom 6, Bedroom 5, Bathroom 2, Bedroom 3, Bathroom 5, Bedroom 1, Bedroom 8, Bathroom 8, Bathroom 7, Bathroom 1
Parking features
Parking Lot
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Pull Down Attic Stairs, Programmable Thermostat
Appliances
Dishwasher, Electric Water Heater, Oven, Range, Range Hood, Refrigerator
Subdivision
I Land Co Sub
Lot features
Wooded
Directions
Take US-80 E and veer right onto Johnny Mercer (right before Tybee Island bridge), quadplex will be on the left across from gas station.
Standard status
Active
APN
1004603009
Size
3,736 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
317 318 W I LAND CO SUB WILMINGTON ISL
Legal Description
317 318 W I LAND CO SUB WILMINGTON ISL
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1996
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Brick, Vinyl Siding
Listing Agency:
BHHS Bay Street Realty Group
(912) 355-4171
Listed By:
Schyler Foskey · License #422058
(912) 695-0778
Added: Oct 8
Last Checked: Oct 10 at 4:06AM
MLS# SA366095
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 3,736-square-foot quadplex contains four apartments, each configured with two bedrooms and two full bathrooms. Individual kitchens include appliances, while open living and dining areas, laundry connections, and screened porches are provided in every unit. Two apartments are leased and two are available for occupancy. Unit B has received interior updates, and work on Unit C is underway. The building dates to 1996 and sits on a 0.26-acre parcel zoned PR3-16.
A concrete parking area is positioned behind the building, with wood stairs and landings serving the upper-level apartments. Shopping, dining, and entertainment are located across the street, and the property has access to Truman Parkway. Public water and sewer serve the site.
A concrete parking area is positioned behind the building, with wood stairs and landings serving the upper-level apartments. Shopping, dining, and entertainment are located across the street, and the property has access to Truman Parkway. Public water and sewer serve the site.
Key Highlights
- Four apartments, each with 2 bedrooms and 2 full bathrooms
- 3,736 square feet on a 0.26‑acre parcel
- Two units leased; two units available for occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,612
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$792,240
$792.2K
Cap Rate 7%
$565,886
$565.9K
Cap Rate 9%
$440,133
$440.1K
Market Conditions
NOI Build-Up for 3,736 SF
Gross rent
$60.5K $16.20/SF
− Vacancy
−$3.9K −$1.05/SF
EGI
$56.6K $15.15/SF
− OpEx
−$17.0K −$4.54/SF
NOI
$39.6K $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%
$792,240
Cap Rate 7%
$565,886
Cap Rate 9%
$440,133
Alternative Uses
Best Use
Multifamily LT 5
$565.9K
$495.2K – $660.2K
NOI $39,612 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$524.8K
$459.2K – $612.3K
NOI $36,736 @ 7.0% cap · market cap 6.17%
Theoretical Best
Warehouse
$3.49M
$3.06M – $4.07M
NOI $244,407 @ 7.0% cap · market cap 41.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 31410, GA
23,782
Population
10,263
Households
2.3
Avg Household Size
45
Median Age
51%
College-Educated
98%
High-School Grad
22.6 sq mi
ZIP Area
1,052
Density / Sq Mi
$97,225
Median Household Income
$54,693
Median Earnings
$1,702
Median Rent
$367,700
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?
Quadplex - All four apartments have two bedrooms, two full baths, individual kitchens, laundry connections, and screened porches.
Where is this quadplex located?
The property is located at 7224 Johnny Mercer Boulevard Savannah, GA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 2 full bathrooms; 3,736 square feet on a 0.26‑acre parcel; Two units leased; two units available for occupancy
