1314 2Nd AveTybee Island, GA 31328

Property Details for 1314 2Nd Ave

Year built

1930

Lot size

0.11 AC

Property size (Sq ft)

3,024 SF

Property type

Apartment buildings

Description

This exceptional Tybee Island investment opportunity presents a charming, three-story duplex ideally situated just minutes from the beach. The property, built in 1930, boasts 3,024 square feet across two units on a 0.11-acre lot. Unit A, a two-bedroom, two-bathroom apartment, currently commands a monthly rent of $2,200. Unit B, a three-bedroom, two-bathroom unit, recently rented for $3,500 per month. Both units feature desirable amenities including heart pine floors, crown molding, modern kitchens with stainless steel appliances and custom cabinetry, and luxurious bathrooms. Unit B also includes a private screened porch and a spacious master suite with a marble-tiled walk-in shower. Shared outdoor spaces include a beautifully landscaped backyard with a deck and an outdoor shower. The property offers two parking spaces per unit and is zoned R-2 One and Two Family. With a current 50% occupancy, the property generates a pro-forma NOI of $51,410, representing a 4.47% pro-forma cap rate and a 5% cap rate. The asking price is $1,150,000, or $575,000 per unit, and the property is being sold turnkey with Unit B fully furnished. This turnkey investment presents a strong rental income potential in a high-demand area, promising both immediate returns and long-term appreciation. The property's location, luxurious features, and versatile market appeal make it an attractive option for discerning investors seeking a profitable venture in Tybee Island's vibrant rental market.

Location Insight

City

Tybee Island

County

Chatham

State

Georgia

Latitude

31.996

Longitude

-80.8493

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