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2323 Downing Ave #22, Savannah, Georgia, 31404
$
1500
Bedrooms
2
Utilities Included
No
Bathrooms
2
Furnished
No
Available to Lease on
Available Now
Property Type
Apartment
SQFT
884
Key metrics
Rent
$
1500
Monthly Estimated Profit?
$
2032
Annual Estimated Profit?
$
34200
Acquisition Fee
$
2500
Security Deposit
$
$1,000
Average Daily Rate
$
249
Occupancy
57
Annual Revenue
$
42378
Key Features

Located in the heart of Savannah, The Retreat at Savannah offers an ideal setting for corporate housing with its modern design and welcoming atmosphere. This property is open to multi-year corporate leases and can accommodate leasing for the duration of the lease, making it perfect for businesses seeking long-term housing solutions. With 12 units currently available and the option to lease 5-10 units, it provides flexibility for companies of various sizes. The property is strategically positioned near local attractions such as Savannah State University, Grayson Stadium, and the historic downtown area, ensuring that residents have easy access to both work and leisure activities.

The Retreat at Savannah is just steps away from live music at Coach's Corner and a short drive to Victory Square, where shopping options include Home Depot, Target, and the only Whole Foods in Savannah. This prime location offers the excitement of city life combined with the tranquility of a serene retreat. Additionally, the property is conveniently located near local hospitals, making it an excellent choice for traveling medical professionals. Experience the best of Savannah's vibrant lifestyle while enjoying the comfort and convenience of The Retreat at Savannah.

Important Notes

Open to multi-year corporate lease
Can lease for duration of lease 12 units currently available
Open to leasing 5-10 units
No additional fees for corporate lease
Deposit $1,000 per unit
Pest control and trash added to rent $29
Client needs to provide insurance, if not the building adds it for $15 monthly and only covers the building not personal belongings
1 month free rent special until end of March

Property Features

• 2 Bedrooms / 2 Bathrooms: A comfortable layout ideal for professionals
• 884 SqFt: Efficient use of space for modern living
• In Unit Laundry: Convenient laundry facilities within the unit
• Central Air: Stay comfortable year-round with central air conditioning
• Landscaped Grounds: Enjoy beautifully maintained outdoor spaces

STR Regulations Summary:  

Status:
Not STR Friendly

View Regulations Here

Savannah, Georgia has strict regulations for non-owner occupied short-term rentals (STRs). Here are the key points:

  1. Location restrictions: Non-owner occupied STRs are only permitted within the short-term vacation rental overlay district, which includes the Downtown, Victorian, and Streetcar local historic districts15.
  2. Cap on STRs: A 20% per-ward cap applies to non-owner occupied parcels in the Savannah Downtown Historic District and Victorian Historic District35. This means that if the cap has been reached in a specific area, new non-owner occupied STRs are not permitted1.
  3. Licensing: Property owners must obtain a Short-Term Vacation Rental (STVR) certificate before operating an STR1. This involves completing an application and verifying compliance with zoning regulations.
  4. Notification: New STR applicants must notify all adjacent property owners and provide specific information about the rental1.
  5. Occupancy limits: The maximum occupancy for non-owner occupied STRs is four adults for units with up to two bedrooms, and two adults per bedroom for units with three or more bedrooms3.
  6. Taxes: Hotel/motel taxes must be remitted for rentals of 90 days or less1.
  7. Parking: Information about on-site parking for STR occupants must be provided in the application1.
  8. Exemplar rental agreement: A sample rental agreement outlining occupant standards must be submitted with the application and posted in the property3.
  9. Violations: Non-compliance with these regulations can result in fines and potential revocation of the STVR certificate2.

It's important to note that these regulations are strictly enforced in Savannah, and the city has implemented measures to control the growth of the STR market, particularly for non-owner occupied properties1.

Property Location