540 Taylor St Savannah, GA 31401
- Commercial real estate
- 3,847 SF
- 0.06 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 540 Taylor St
- Year built
- 1870
- Lot size
- 0.06 lot acres
- Property size
- 3,847 SF
- Property type
- Commercial real estate
- APN
- 2003301023
Description
This exceptional Class A, 4-unit apartment building in Savannah, Georgia's Historic District presents a rare investment opportunity. Built in 1870, this meticulously maintained property features 3,847 square feet on a 0.06-acre lot and boasts a strong history of short-term vacation rental income. The property includes four units: a two-bedroom, two-bathroom owner-occupied suite with private deck and courtyard access (income factored into the $100,648 projected annual NOI); two upstairs two-bedroom, two-bathroom units with full kitchens; and a cozy third-floor studio. A separate cottage/carriage house offers additional living space with a kitchen, living room, and two bedrooms and bathrooms. Tandem parking for two vehicles is available off the lane. The property is located steps from Forsyth Park, restaurants, and shopping, in a high-demand area for short-term rentals. The asking price is $1,870,000, representing a price per square foot of $486.09 and a price per unit of $467,500. The property's permitted zoning is D-R. This turnkey opportunity (excluding owner's suite and courtyard items) offers a projected 5.38% pro-forma cap rate and significant potential for future income growth. The APN is 2003301023.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Savannah
- County
- Chatham
- State
- Georgia
- Longitude
- -81.0880899
- Latitude
- 32.0700415
