$775,000 602 Lincoln Street Savannah, GA

MLS: 239758   Type: Multi-Family   County: Chatham   City: Savannah   Zip: 31401   Style: Contemporary     Stories: 3   Taxes: $3,503

Mortgage $3,638 /mo

Beds

Baths

Half Baths

Sqr Footage

Lot Size

Built

3

3

1

2,661

1,307

1984

Great opportunity to buy a highly profitable income producing STVR duplex, minutes away from Forsyth park in Downtown Savannah. This home is currently leased with an existing STVR license in place. The top apartment is 2 bed, 2.5 bath with front and rear terrace, juliette balcony, living room, eat in kitchen and study. Downstairs is a 1 bed, 1 bath with open plan kitchen lounge and dining area. Property comes with 2 off street parking spaces and owners will sell fully furnished. The property is currently tenanted with one lease in place until May 2021 and the other lease open to discussion regarding an early termination if required for sale. When operated as an STVR in 2018 and 2019, the property achieved income levels of $99,220 and $100,426 in 2018 and 2019 making this a superb investment property at a pro forma 9.9% Cap Rate

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Price History

12/23/2020 Listed $775,000

Accessibility None
Appliances Dryer, Dishwasher, Electric Water Heater, Microwave, Refrigerator, Washer
Architectural Style Contemporary
Association Name Huntingdon Square HOA
Association Y/N Yes
Construction Materials Stucco
Cooling Central Air, Electric
Energy Efficient Windows
Exterior Features Balcony, Deck, Porch, Patio
Flooring Wood
Garage Y/N No
HOA Fee 51
HOA Fee Frequency Annually
Heating Central, Electric
Interior Features Ceiling Fan(s), Programmable Thermostat
Parking Features Off Street, Parking Lot
Patio/Porch Features Balcony, Deck, Patio, Porch
Property Attached Y/N Yes
Property SubType Duplex
Property Type Residential Income
Sewer Public Sewer
Terms Cash, 1031 Exchange, VA Loan
Total Units 1
Utilities Underground Utilities
Zoning RIPA

Interior Features

Air Conditioning Y/N Yes
Common Walls 1 Common Wall
Fireplace Features Decorative
Fireplace Y/N Yes
Full Baths 3
Furnished Y/N Furnished
Half Baths 1
Heating Y/N Yes
Laundry Features Laundry Room
Living Area 2661
Total Baths 4
Total Bedrooms 3
Window Features Double Pane Windows

Exterior Features

Foundation Details Concrete Perimeter
Horse Y/N No
Lot Features Corner Lot
Lot Size Acres 0.03
Lot Size Area 0.03
Lot Size Square Feet 1220
Lot Size Units Acres
Number of Buildings 1
Number of Pads 2
Road Surface Type Asphalt
Water Source Public
Waterfront Y/N No

Property Schools



Direct Link:

https://www.savannahrealestatecompany.com/property/52-239758-602-Lincoln-Street-Savannah-GA-31401

Gallery (27 photos)

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Property vs Zip Code Avg (31401)

Price 775K Avg 1.50M

Sqr Feet 2,661 Avg 5,101

Cost / Sqr Ft $291 Avg $295

Taxes $3,503 Avg $8,259

Acres 0.03 Avg 0.09

Visits 43 Avg 53

Days on Site 26 Avg 200

Walkscore® 89 Avg 88

Data Provided by Walkscore ® not using MLS data

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Listing Provided Courtesy Of: Judge Realty, LLC




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Location & Address

SavannahRealEstate.com
331 Tattnall St
Savannah , GA
912-662-8242
(912) 335-5851