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307 W 36th Street

Savannah, GA 31401
  • $2,080,000
  • STATUS: Closed
  • ON SITE: 383 Days
  • MLS #: 291445
Sold - 02/23/2024
$2,080,000
SOLD - 02/23/2024
  • 11
    BEDS
  • 0.16
    ACRES
  • 8
    BATHS
  • 0
    1/2 BATHS
  • 4,613
    SQFT
  • $0
    $/SQFT
Type:
Multi-Family
Built:
1900
County:
Area:

School Ratings & Info

Description

This is a rare opportunity to purchase a fully stabilized core plus multifamily asset in the heart of Savannah's Stalrand/Thomas square neighborhood. The Starland district is the new place to be: young professionals, art students, military officers, and all manner of local Savannians come to Starland to live, work, and play - and they pay a premium to do so. 307 W 36th was totally renovated in 2018 and went through a management value-add over the past year: rents were stabilized to market with well-qualified 12+ month tenants, unnecessary expenses cut, and deferred maintenance performed. Now the owners are ready to deliver this asset to the discerning buyer seeking easy cash flow and appreciation over the next few years as the Starland district and the Savannah MSA in general continues to grow well in excess of the rest of the nation. Offered at a 6.5% going-in capitalization rate and unlevered IRR/EM at year 7 of 13.8%/2.2x, clean Phase II ESA in hand. Financials upon request.

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© 2024 Savannah Multi-List Corporation. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of the Savannah Multi-List Corporation. Information is deemed reliable but is not guaranteed accurate by the MLS or Heather Murphy Real Estate Group | Keller Williams Realty - Coastal Area Partners. Real estate listings held by brokerage firms other than Heather Murphy Real Estate Group | Keller Williams Realty - Coastal Area Partners are marked with the name of the listing brokers. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-07-20T17:08:06.633.

www.heathermurphysold.com/homes/141135172
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307 W 36th Street Savannah, GA 31401

  • Price: $2,200,000
  • Status: Closed
  • On Site: 383 Days
  • Updated: 57 min ago
  • MLS #: 291445
11
Beds
8
Baths
0
½ Baths
0.16
Acres
4,613
SQFT
$0
$/SQFT
1900
Built
County:
Chatham
Area:
Savannah
Property Description
This is a rare opportunity to purchase a fully stabilized core plus multifamily asset in the heart of Savannah's Stalrand/Thomas square neighborhood. The Starland district is the new place to be: young professionals, art students, military officers, and all manner of local Savannians come to Starland to live, work, and play - and they pay a premium to do so. 307 W 36th was totally renovated in 2018 and went through a management value-add over the past year: rents were stabilized to market with well-qualified 12+ month tenants, unnecessary expenses cut, and deferred maintenance performed. Now the owners are ready to deliver this asset to the discerning buyer seeking easy cash flow and appreciation over the next few years as the Starland district and the Savannah MSA in general continues to grow well in excess of the rest of the nation. Offered at a 6.5% going-in capitalization rate and unlevered IRR/EM at year 7 of 13.8%/2.2x, clean Phase II ESA in hand. Financials upon request.
Exterior Features

Construction Materials Frame Vinyl Siding Wood Siding

Interior Features

Appliances Electric Water Heater Cooling Central Air Electric Cooling YN Yes Heating Central Electric Heating YN Yes

Property Features

Association YN No Buyer Financing Cash Listing Agreement Exclusive Right To Sell Listing Terms Cash Item1031 Exchange Property Attached YN No Property Sub Type Multi Family Sewer Public Sewer Special Listing Conditions Standard Tax Annual Amount 6226 Tax Year 2022 Utilities Underground Utilities Water Source Public Waterfront YN No

Listing courtesy of Patrick Wilver of Eighteen O'Two Realty LLC: 912-330-2998. © 2024 Savannah Multi-List Corporation. All rights reserved.


© 2024 Savannah Multi-List Corporation. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of the Savannah Multi-List Corporation. Information is deemed reliable but is not guaranteed accurate by the MLS or Heather Murphy Real Estate Group | Keller Williams Realty - Coastal Area Partners. Real estate listings held by brokerage firms other than Heather Murphy Real Estate Group | Keller Williams Realty - Coastal Area Partners are marked with the name of the listing brokers. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-07-20T17:08:06.633.

 
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Heather Murphy Real Estate Group | Keller Williams Realty - Coastal Area Partners
329 Commercial Drive Suite 100
Savannah GA, 31406