Tybee Island Duplex | 1314 2nd Ave
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Tybee Island Duplex 1314 2nd Ave
2 Unit Apartment Building $1,150,000 ($575,000/Unit) Tybee Island, GA 31328
Investment Highlights
- Prime location - Blocks to Beach
- Turn Key Investment - Unit B Sold Furnished
- Versatile Market Appeal - Luxury Features
- Strong Rental Income Potential - $68k potential Gross Income
- High Demand Area
- Modern Amenities
Executive Summary
This exceptional investment opportunity on Tybee Island features a multi-unit property with impressive rental potential. The upper unit is a 3/2, recently rented for $3,500 per month, boasts heart pine floors, crown molding, and a luxurious master suite with private outdoor spaces. The lower unit is a 2/2 commanding a steady $2,200 per month, contributing to a robust pro forma annual income. Both units share access to a beautifully landscaped backyard with an outdoor shower and a deck, enhancing tenant appeal. Just blocks from the beach, this property promises a steady stream of rental demand, making it an ideal acquisition for investors seeking to capitalize on Tybee Island's vibrant rental market.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$68,400
|
$22.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$68,400
|
$22.62
|
| Taxes |
$11,734
|
$3.88
|
| Operating Expenses |
$5,650
|
$1.87
|
| Total Expenses |
$17,384
|
$5.75
|
| Net Operating Income |
$51,016
|
$16.87
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $68,400 |
| Annual Per SF | $22.62 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $68,400 |
| Annual Per SF | $22.62 |
| Taxes | |
|---|---|
| Annual | $11,734 |
| Annual Per SF | $3.88 |
| Operating Expenses | |
|---|---|
| Annual | $5,650 |
| Annual Per SF | $1.87 |
| Total Expenses | |
|---|---|
| Annual | $17,384 |
| Annual Per SF | $5.75 |
| Net Operating Income | |
|---|---|
| Annual | $51,016 |
| Annual Per SF | $16.87 |
Property Facts
| Price | $1,150,000 | Lot Size | 0.11 AC |
| Price Per Unit | $575,000 | Building Size | 3,024 SF |
| Sale Type | Investment | Average Occupancy | 50% |
| No. Units | 2 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Parking Ratio | 1.32/1,000 SF |
| Apartment Style | Single Family Home |
| Price | $1,150,000 |
| Price Per Unit | $575,000 |
| Sale Type | Investment |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Lot Size | 0.11 AC |
| Building Size | 3,024 SF |
| Average Occupancy | 50% |
| No. Stories | 3 |
| Year Built | 1930 |
| Parking Ratio | 1.32/1,000 SF |
Amenities
- Ventilation - Venting
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Crown Molding
- Double Vanities
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Surround Sound
- Views
- Grill
- Breakfast Nook
- Deck
- Dining Room
- Double Pane Windows
- Family Room
- Garden
- Island Kitchen
- Lawn
- Linen Closet
- Pantry
- Patio
- Skylights
- Window Coverings
Site Amenities
- Courtyard
- Grill
- Storage Space
- Zen Garden
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $3,500 | 2,024 |
| 2+1 | 1 | $2,200 | 1,000 |
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zoning
| Zoning Code | R-2 (One to Two Family Homes) |
| R-2 (One to Two Family Homes) |
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Tybee Island Duplex | 1314 2nd Ave
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