For Sale
$5,485,000

816 Drayton St Savannah, GA 31401

14-unit Savannah gem, high ROI potential.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
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.

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 Details for 816 Drayton St

Property type
Apartment buildings
Square Feet
11,349 SF
Class
A
Year Built
1896
Buildings
1
Stories
3
Lot Size (sq. ft)
6,098 SF
Units
14

Location Insight

City
Savannah
County
Chatham
State
Georgia
Latitude
32.066332095441
Longitude
-81.095479334069

FAQs

What type of property is this?
Apartment building - 14-unit Savannah gem, high ROI potential.
Where is the apartment building 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.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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816 Drayton St
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