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301-303 East Henry St 301 E Henry St 4 Unit Apartment Building $1,100,000 ($275,000/Unit) 6.23% Cap Rate Savannah, GA 31401
Investment Highlights
- Rare Quadplex in Historic Downtown Savannah- Extremely limited supply of 4-unit multifamily assets in the urban core.
- Strong In-Place Cash Flow (6.23% Cap) - Stabilized asset with $68,500 NOI and 0% vacancy.
- Minimal Capital Required - Recent upgrades completed; only light improvements needed to maximize rents.
- Prime Location Near SCAD - Walkable to Savannah College of Art & Design, driving consistent rental demand.
- Significant Value-Add Opportunity - Below-market rents with comps around $2,200/month, offering clear upside.
- High-Demand, Walkable Rental Market - Surrounded by dining, retail, and cultural amenities in a supply-constrained location.
Executive Summary
301–303 E Henry St is a rare quadplex for sale in Downtown Savannah, GA, offering a prime multifamily investment opportunity near SCAD in one of the city’s most walkable and high-demand rental markets. This historic Savannah property features four spacious 2BR/1BA units totaling 5,016 SF, with recent upgrades including a new roof, updated flooring, and interior improvements, while maintaining its unique architectural character. With zero vacancy and strong in-place NOI, the asset provides immediate cash flow alongside significant value-add potential through below-market rents, as comparable units average ~$2,200/month. Ideal for investors seeking a Savannah income property, value-add multifamily, or turnkey rental investment, this property combines location, stability, and upside in the heart of Historic Downtown Savannah.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$88,800
|
$17.70
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$88,800
|
$17.70
|
| Taxes |
$10,800
|
$2.15
|
| Operating Expenses |
$9,500
|
$1.89
|
| Total Expenses |
$20,300
|
$4.05
|
| Net Operating Income |
$68,500
|
$13.66
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $88,800 |
| Annual Per SF | $17.70 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $88,800 |
| Annual Per SF | $17.70 |
| Taxes | |
|---|---|
| Annual | $10,800 |
| Annual Per SF | $2.15 |
| Operating Expenses | |
|---|---|
| Annual | $9,500 |
| Annual Per SF | $1.89 |
| Total Expenses | |
|---|---|
| Annual | $20,300 |
| Annual Per SF | $4.05 |
| Net Operating Income | |
|---|---|
| Annual | $68,500 |
| Annual Per SF | $13.66 |
Property Facts
| Price | $1,100,000 | Building Class | C |
| Price Per Unit | $275,000 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 5,016 SF |
| Cap Rate | 6.23% | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.4 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1900/2000 |
| Property Type | Multifamily | Parking Ratio | 0.4/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | TN-1 - Traditional Neighborhood | ||
| Price | $1,100,000 |
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| Cap Rate | 6.23% |
| Gross Rent Multiplier | 12.4 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 5,016 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1900/2000 |
| Parking Ratio | 0.4/1,000 SF |
| Zoning | TN-1 - Traditional Neighborhood |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $2,100 | 1,254 |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Some public transit
40/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 2005312010 | Total Assessment | $331,960 |
| Land Assessment | $24,560 | Annual Taxes | $10,800 ($2.15/SF) |
| Improvements Assessment | $307,400 | Tax Year | 2025 |
Property Taxes
Parcel Number
2005312010
Land Assessment
$24,560
Improvements Assessment
$307,400
Total Assessment
$331,960
Annual Taxes
$10,800 ($2.15/SF)
Tax Year
2025
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