5013 – A Ogeechee Road
Property Description
Rare opportunity to acquire a 25-unit extended-stay motel/apartment complex with significant income potential on highly visible Ogeechee Rd/Hwy US-17. Situated on approximately 2.43 acres with commercial road frontage, this well established, family owned property consists of 25 fully furnished one-bedroom, one-bathroom units. Each unit features a private entrance, private bath and a fully equipped kitchen with full sized refrigerator. All furnishings convey with the sale. Potential gross income exceeds $373,000 annually based on weekly rental rate model at full occupancy, or approximately $357,000 annually as monthly rentals. Currently there is a mixture of weekly, biweekly, and monthly tenants, many whom are well established, long term residents. A minimum six month stay is required. Operational advantages include private wells resulting in no water bills, no city taxes, and no flood insurance requirement. A current motel business license is in place. Conveniently located near Berwick Community, Chatham Parkway, major employers, shopping, dining, and easy interstate access/transportation routes. This income producing property offers both immediate cash flow and long term appreciation potential. Positioned in a rapidly growing area, the property is surrounded by ongoing, residential, commercial, and infrastructure development, creating future opportunities for increased demand, rental growth, and overall property appreciation.. Some furnishings in photographs may have been replaced and are subject to change.
Broker Details
RE/MAX Savannah (912) 355-7711
MLS ID: WILLIAAM State License Number: 243989
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,000,000 |
| No. of Units: | 1 |
| Year Built: | 1952 |
| Lot Size: | 8,432.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $2,000,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 25 |
| Number of Bathrooms: | 25 |
ID: 3yd-HIVEMLSNC-SA358919
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