Multifamily Property for Sale in Savannah, GA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Savannah, GA 31419

Description

Marcus & Millichap is pleased to present the opportunity to acquire 11010 Middleground Rd, a 22-unit multifamily asset located in Savannah. Constructed in 1974 and situated on approximately 1.10 acres, the property features a desirable unit mix of one- and two-bedroom floorplans that cater to the area’s strong workforce housing demand. The asset offers investors a value-add opportunity through interior improvements, operational efficiencies, and the ability to capture rental upside in a steadily growing coastal market. The property will continue to benefit from sustained renter demand driven by Savannah’s expanding population and employment base. Savannah’s multifamily market continues to demonstrate long-term strength despite short-term supply pressures. The metro has experienced significant population and job growth, largely fueled by the expanding Port of Savannah, one of the fastest-growing ports in the nation, as well as continued investment in logistics, manufacturing, and tourism sectors. While a recent wave of new construction has temporarily softened rent growth and occupancy, demand remains resilient, with absorption levels remaining strong and investor interest continuing across the market. As new supply is absorbed and construction activity moderates, a favorable environment for rent growth and long-term appreciation is emerging. Positioned within this dynamic market, 11010 Middleground Rd offers investors the opportunity to acquire a asset with both in-place cash flow and future upside potential. Investment Highlights: • The property's one- and two-bedroom unit mix aligns with consistent demand from Savannah's growing renter-by-necessity population. • Opportunity to enhance revenue through interior upgrades, improved property management, and expense optimization. • Smaller, vintage assets like this face less direct competition from newly delivered Class A product. • Proximity to major employment drivers supports stable occupancy and long-term tenant re

Market Context

This multifamily in Savannah, GA is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 67 days. Compare it against other multifamily listings for sale in Savannah, GA — <a href="/search/sale/multifamily/georgia/savannah">view the full market</a>.

As of Q4 2023, the Savannah multifamily market showed a 10.0% vacancy rate. Source: Consensus Q4 2023 market report.

Multifamily market FAQ

Is the Savannah multifamily market tightening or softening?
Vacancy is around 10.0% (Q4 2023).

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