MLS® ID: 204590
201 E 31st Street
Savannah, Georgia, 31401 $800,000
This 4,300 sq ft Victorian consists of twelve studio apartments. Current annual rent roll is $94,000. Monthly rents range from $600 for an unrenovated unit to $850 for a renovated unit. Each studio has its own bathroom and kitchenette. Utilities are included in the rents. The occupancy rate exceeds 95% annually. Property is conveniently located on the north edge of the Thomas Street Car neighborhood at the corner of Abercorn St and 31st St, right on the Abercorn St main bus line. A short walk to Forsyth Park, Starland District and the Bull Street retail corridor. Great property for new owner looking to continue the renovation plan and increase the annual rent roll to $120,000 with long term leases or furnish the units and create an extended stay to increase income even more. Donâ€™t Miss your chance to get a great property.