Rare opportunity to acquire a 25-unit extended-stay motel/apartment complex with significant income potential on highly visible Ogeechee Rd/Hwy US-17. Situated on approximately 2.43 acres with commercial road frontage, this well established, family owned property consists of 25 fully furnished one-bedroom, one-bathroom units. Each unit features a private entrance, private bath… Read More and a fully equipped kitchen with full sized refrigerator. All furnishings convey with the sale. Potential gross income exceeds $373,000 annually based on weekly rental rate model at full occupancy, or approximately $357,000 annually as monthly rentals. Currently there is a mixture of weekly, biweekly, and monthly tenants, many whom are well established, long term residents. A minimum six month stay is required. Operational advantages include private wells resulting in no water bills, no city taxes, and no flood insurance requirement. A current motel business license is in place. Conveniently located near Berwick Community, Chatham Parkway, major employers, shopping, dining, and easy interstate access/transportation routes. This income producing property offers both immediate cash flow and long term appreciation potential. Positioned in a rapidly growing area, the property is surrounded by ongoing, residential, commercial, and infrastructure development, creating future opportunities for increased demand, rental growth, and overall property appreciation.. Some furnishings in photographs may have been replaced and are subject to change. Read Less
Courtesy of Amber Williams, Re/Max Savannah
Listing Snapshot
Days Online
24
Last Updated
Property Type
Multi Family
Beds
25
Full Baths
25
Square Ft.
8,432
Lot Size
2.43 Acres
Year Built
1952
MLS Number
SA358919
Additional Details
Accessibility Features
Features: Low Threshold Shower
Appliances & Equipment
Electric Water Heater, Gas Water Heater, Microwave, Range, Refrigerator
Basement
None
Building
Built in 1952, Architectural style: "Other", "Ranch", "Traditional", Common walls: "2+ Common Walls", "1 Common Wall", Construction materials: "Brick", "Frame", "Other", Living area units: Square Feet, 1, 1 total story, Other structures: "Outbuilding", "Other", "Shed(s)", "Storage"
Cooling
Electric, Other, Window Unit(s)
Fence
Privacy
Floors
Ceramic Tile, Other, Tile
Heating
Electric, Gas, Wall Furnace
Interior Features
Furnished: Furnished, Ceiling Fan(s), Other, See Remarks
Laundry
None
Lot
2.43 acres, 105,851 sqft, Greenbelt, Interior Lot, Irregular Lot, Other
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of . All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Re/Max Savannah shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data.
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