816 Drayton StSavannah, GA 31401

Property Details for 816 Drayton St

Year built

1896

Lot size

0.14 AC

Property size (Sq ft)

11,349 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Savannah

County

Chatham

State

Georgia

Latitude

32.0663

Longitude

-81.0955

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