138 W 51st Street
Property Description
Rare opportunity to acquire a fully occupied multifamily property in one of Savannah's fastest-growing areas just outside of the Historic Street Car District. This income-producing property features two 2BD/1BA units and two 1BD/1BA units with long-term tenants already in place, providing immediate cash flow from day one and current rental rates provide room for revenue enhancement while maintaining strong demand in this rapidly growing area. Located on Savannah's West Side, this property sits in the heart of an area experiencing significant growth and revitalization. Investors will appreciate the proximity to some of the city's most popular destinations, including Starland Yard, Ardsley Station, Victory North, and Two Tides Brewing Co. The property is also in close proximity to Savannah College of Art and Design facilities, including Montgomery House Residence Hall and Montgomery Hall, SCAD's hub for digital arts, gaming, and animation. Directly across the street, Byte Cafe - further enhancing the area's appeal and long-term rental demand. Adding to the property's appeal, the property is zoned RTF, offering additional flexibility and potential for future redevelopment opportunities. Investors may also have the opportunity to assume the existing VA loan with an attractive 4.25% interest rate, subject to lender approval and qualification. Conveniently positioned on Montgomery Street, Midtown Savannah is just five minutes away, while Victory Drive provides quick access to Daffin Park in under ten minutes. One of Savannah's premier recreational destinations, Daffin Park offers a public pool, tennis courts, basketball courts, playgrounds, a dog park, walking trails, and Grayson Stadium, home of the world-famous Savannah Bananas. *Offering 1% ($9,350) Lender Credit Closing Costs with Use of Preferred Lender* Assumable VA Loan with 4.25% Interest Rate Available & Zoning Offers Future Development Potential
Broker Details
Seaport Real Estate Group 912-202-2042
MLS ID: 412102 State License Number: 412102
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $905,000 |
| No. of Units: | 4 |
| Year Built: | 1950 |
| Lot Size: | 4,000.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $226,250 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 4 |
ID: 3yd-HIVEMLSNC-SA352315
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