97 Ivey St - Apartments FOR SALE


Richmond Hill, GA 31324
$2,500,000 USD
912-398-6368
97 Ivey St, Richmond Hill, GA for Sale
$2,500,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

97 Ivey St
Richmond Hill, GA 31324


HIGHLIGHTS

  • Two well-maintained eight-unit buildings offering a total of sixteen spacious apartments
  • Desirable two-bedroom, one-bathroom floor plans with individual HVAC and in-unit hookups
  • Recently improved in 2022, reducing near-term capital expenditures for new ownership
  • Stable 100 percent occupancy supported by strong local employment and top-rated schools
  • Located in a fast-growing coastal Georgia community with consistent rental demand
  • Easy access to Highway 17, I-95, Savannah, Fort Stewart, and nearby retail corridors

OVERVIEW

97 Ivey St offers investors the rare opportunity to acquire a stabilized, fully occupied multifamily asset comprising two well-maintained eight-unit buildings in the heart of Richmond Hill, one of coastal Georgia’s fastest-growing and most desirable residential communities. The property features sixteen spacious two-bedroom, one-bathroom units, each designed with functional layouts that include full living areas, efficient kitchens, individual HVAC systems, washer and dryer hookups, and in-unit amenities that support strong tenant retention and long-term operational ease. Both buildings reflect thoughtful upgrades completed in 2022, reducing immediate capital needs and positioning the asset for continued performance. Individually metered utilities keep expenses highly manageable, while ample onsite parking and a quiet neighborhood backdrop enhance resident satisfaction. With consistent 100 percent occupancy and proven demand for well-kept workforce housing in the Richmond Hill area, the property delivers stable income from day one. Richmond Hill benefits from impressive demographic growth driven by proximity to Savannah, Fort Stewart, major logistics corridors, manufacturing employers, and top-rated public schools. The area’s strong median household incomes and limited supply of quality rental housing contribute to reliable absorption and long-term appreciation potential. Residents enjoy convenient access to Highway 17, I-95, local retail, parks, and community services, reinforcing the property’s appeal as a durable, cash-flowing investment. For investors seeking a stabilized asset with minimal management complexity and strong fundamentals in a fast-growing coastal market, 97 Ivey St provides an attractive balance of current income, renovation upside, and long-term value appreciation potential.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$160 USD /SF

# OF UNITS

8

PRICE/UNIT

$312,500

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

CITY

APN/PARCEL ID

0532-147

ASK ABOUT THIS PROPERTY

Heather MurphyHeather Murphy Real Estate GroupMore Info
912-398-6368

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Heather MurphyHeather Murphy Real Estate GroupMore Info
912-398-6368

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.