1102 Lovell Ave
Fully renovated 1932 landmark with $100K+ blended income potential, steps from the Atlantic.
Marketing description
The Blue Pearl at 1102 Lovell Avenue is a rare turnkey income property just one block from the beach on Tybee Island. Set on a corner lot in the island’s desirable mid-island district, this fully renovated 1932 residence lives as three self-contained units under one roof: a spacious 3-bedroom / 3-bath main residence with a high-end quartz kitchen, original heart-pine floors, a freestanding clawfoot tub, and a 27′ × 12′ screened porch — plus two private lower-level units, each with its own entrance, kitchen, and outdoor space. The two lower units, “Mini Pearl” and “Pearl’s Pad,” operated as furnished short-term rentals in 2024–2025, generating $64,141 in 2025 across Airbnb and Booking.com. Zoned R2 for multi-family use with no HOA, the property offers exceptional flexibility: live in one unit and rent the others, lease all three long-term, or capitalize on Tybee’s strong nightly-rental demand. Recent capital improvements — new roof, dual HVAC systems, propane gas range, and updated baths — mean minimal deferred maintenance. With a pending August 2026 City Council vote to expand short-term-rental certificates, the timing offers meaningful upside for the next owner.
Investment highlights
- Turnkey three-unit income property one block to the beach — live in one, rent the rest, or lease all three.
- Proven short-term-rental income: $64,141 in 2025 from the two furnished lower units, cross-listed on Airbnb & Booking.com (up from $21,692 in 2024).
- Two private lower units — Mini Pearl (2BR/1BA, full kitchen) & Pearl's Pad (1BR efficiency, kitchenette), each with a private entrance and outdoor space.
- R2 multi-family zoning · No HOA · No CCRs — rare flexibility with no association fees or rental restrictions.
- Corner lot with room for a pool — amenity upside across two street frontages (subject to permitting).
- Short-term-rental upside: Tybee City Council votes August 2026 on a new STVR ordinance to expand certificates; 30-day-minimum rentals permitted today.
- Historic 1932 “Blue Pearl,” extensively updated — original heart-pine floors, two original pine ceiling to floor corner cupboards in dining room, clawfoot tub, quartz chef's kitchen with wine fridge, 27' × 12' screened porch, new roof / HVAC / gas range
- Walk to Memorial Park, YMCA, library, dining & shopping · walk to Tybee Maritime Academy Charter School (K-8), zoned for May Howard Elementary, Coastal Middle School and Islands High school,
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