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    816 Drayton St Savannah, GA 31401

    Sponsored
    For Sale
    $5,485,000

    14-unit Savannah gem, high ROI potential.

    Property size:
    11,349 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 14-unit apartment building, located at 816-818 Drayton Street in Savannah, Georgia, presents a compelling investment opportunity. The property boasts 11,349 square feet on a 0.14-acre lot, situated directly on the prestigious Forsyth Park. Built in 1896, this three-story Class A building features a mix of ten one-bedroom and four three-bedroom units, many with charming porches offering stunning park views. The units are well-maintained, featuring hardwood floors, updated kitchens with modern appliances, and thoughtful renovations that preserve the historic charm while providing modern conveniences. Currently operating at 80% occupancy, this property offers immediate potential for increased revenue through filling vacancies and adjusting rental rates to reflect the high demand in this prime location. Its proximity to the Savannah College of Art and Design (SCAD), downtown shopping, dining, and Forsyth Park's amenities (tennis courts, basketball courts, farmers market) makes it highly desirable for students, professionals, and those seeking a vibrant Savannah lifestyle. The property is zoned TN-1 (Traditional Neighborhood-1) and has a 6.00% cap rate. The asking price is $5,485,000. This turnkey investment opportunity offers strong potential for return on investment and long-term value in a thriving rental market. The property's APN is 20044 13038.

    Property Features for 816 Drayton St

    General Information

    Property type
    Multifamily properties
    Square Feet
    11,349 SF
    Class
    A
    Lot Size
    6,098 SF

    Building Details

    Year Built
    1896
    Buildings
    1
    Stories
    3
    Units
    14

    HighLights

    • Prime Forsyth Park location in Savannah's most desirable neighborhood.
    • 14‑unit historic building with a mix of one- and three‑bedroom units.
    • 80% occupancy; significant upside potential for revenue growth.
    • Select units boast porches overlooking Forsyth Park.
    • Updated kitchens and modern appliances in all units.
    • Original hardwood floors throughout.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Savannah
    County
    Chatham
    State
    Georgia
    Longitude
    -81.095479334069
    Latitude
    32.066332095441

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    FAQs

    What type of property is this?
    Multifamily property - 14-unit Savannah gem, high ROI potential.
    Where is this multifamily property located?
    The property is located at 816 Drayton St Savannah, GA.
    What is the asking price?
    The asking price for this property is $5,485,000.
    What are key features of this property?
    This property features: Prime Forsyth Park location in Savannah's most desirable neighborhood.; 14-unit historic building with a mix of one- and three-bedroom units.; 80% occupancy; significant upside potential for revenue growth.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    816 Drayton St Savannah, GA 31401
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