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31383175
31383190

309 W 41st St, Savannah, GA 31401 For Sale

$1,189,000
107 days on market
Updated 12 days ago

309 W. 41st Street - Value-Add and Buildable Lot

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,358
Net Rentable (SqFt) 5,358
Units 4
Cap Rate 5.5%
NOI $65,354
Occupancy 75%
Tenancy Multi
Pro-Forma Cap Rate 8.69%
Pro-Forma NOI $103,382
Price per SqFt $222
Broker Co-Op Yes
Year Built 1910
Buildings 1
Stories 2
Lot Size (SqFt) 8,100
Zoning TN-2
Parking Spaces 6 spaces
Parking per 1,000 SqFt 1.12
Investment Type Value Add

Starland 4‑Unit Multifamily with Value-Add and Buildable Lot

Marketing description

INVESTOR OPEN HOUSE JUNE 4th 11am-1pm

Prime value-add 4-unit investment opportunity in Savannah’s highly sought-after Starland District. Located at 309 W 41st Street, this multi-family property features four spacious units, each offering 4 bedrooms and 1 bathroom, appealing to student housing, roommate-style living, or workforce housing demand.

The property totals approximately 5,358 square feet and has a strong rental history, with each unit currently generating around $2,000/month, providing immediate in-place income with upside potential.

Zoned TN-2, this property offers flexibility for continued multifamily use and future development opportunities. A key highlight is the .07-acre off-street parking lot, which presents a potential value-add opportunity for expansion, additional units, or increased density.

Situated in the heart of the Starland District, one of Savannah’s fastest-growing and most desirable neighborhoods, the property benefits from proximity to SCAD, downtown, dining, retail, and entertainment—driving consistent rental demand and long-term appreciation.

Ideal for investors seeking strong cash flow, large unit configurations, and development upside in a high-growth Savannah location.

Investment highlights

4 - 4 Bed 1 Bath Units

Strong Rental History

Value Add Potential for the Apartments

Value Add Potential with the parking lot

Starland District

Close to SCAD, and everything the historic district of Savannah has to offer.

Listing Contacts

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$65,354.00
$5,446.17/mo

Valuation Metrics

0
DSCR
5.5%
Cap Rate
5.5%
ROI

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Additional Information

Name
Danny Worsley
License
81953
Brokerage
Bare Real Estate
Brokerage Phone
9127772511
Title
Owner & Broker
Brokerage Address
523 Jackson Boulevard
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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