Property Description:

Renovated 1-, 2-, and 3-bedroom apartments at 2800 Capital Street, Savannah, GA 31404, offering modern interiors and premium community amenities. Located just 3 miles (approximately 7 minutes) from downtown Savannah, this 232-unit community provides easy access to beaches, parks, shopping, and entertainment.

Investment Highlights

• 1-Bedroom, 1-Bathroom: Rent: $1,350
• 2-Bedroom, 1-Bathroom: Rent: $1,400
• 3-Bedroom, 1-Bathroom: Rent: $1,675 | Annual Revenue: $57,000+ | Monthly Profit: $2,780
• Some units can be furnished

Apartment Features

• Central air conditioning & ceiling fans
• Walk-in closets
• Plush carpeting & window coverings
• Private patios & balconies (select units)

Community Amenities

• Swimming pool
• Barbecue & picnic area
• Playground
• On-site laundry facilities
• Scheduled social events
• Parking lot & off-street parking

Nearby Attractions & Distances

• Downtown Savannah: 3 miles (7-minute drive)
• Tybee Island Beach: 15 miles (20-minute drive)
• Savannah Golf Club: 1.5 miles (5-minute drive)
• Botanical Gardens: 8.5 miles (12-minute drive)
• Nearby Parks:
  
  • Treat Park: 1.5 miles (5-minute drive)
  • Forsyth Park: 3.5 miles (10-minute drive)
  • Herty Pines Dog Park: 3 miles (9-minute drive)
• Nearby Schools:
  
  • Savannah State University: 4 miles (15-minute drive)
  • Eli Whitney School: 1-minute drive
  • Sol C. Johnson High School: 3 miles (10-minute drive)
• Healthcare & Emergency Services:
  
  • Chandler Hospital: 6 miles (10-minute drive)
  • Police Station: 2 miles (6-minute drive)

Rental Terms & Fees

• Lease Length: 1 Year+
• Security Deposit: Based on application
• Utilities: Not included

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.