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Note
102 Parkside Blvd, Savannah, GA 31407, USA
Listing was updated at: 10/10/2018
Property Overview
Price/Rent PSF $ 4,952,500.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 254,345
Date Available 10/10/2018
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Description

Location
The city has had job growth of 2.85% with an estimated growth over the next ten years of 40.31%. Savannah MSA ended 2017 with more than 3,000 new jobs, 5,000 more employed residents, a larger workforce, and an unemployment rate down 1%. The Port of Savannah is the 4th busiest city in the county for containerized cargo. The Savannah Harbor Expansion Project is one of the largest civil works projects in the country. The project is deepening the outer harbor to accommodate larger vessels. The project is expected to make a significant economic and job impact to the greater Savannah area. The cost of the project is estimated at $973 million and should be finished in January 2022. Port Wentworth’s largest employers are in aviation, manufacturing, the Port of Savannah, or local government. All companies not within Port Wentworth City limits are located within a 10-mile radius. Michael J. Toma, director of the Center for Business Analytics and Economic Research, expects the local economy to gain momentum propelled largely by capital investment projects in the area, including Plant Riverside, Savannah River Landing and the deepening of the Savannah River. Port Wentworth is a city, part of the Savannah MSA with an estimated population of 7,933 for 2016. Metro Savannah has a population of 387,543.


Sale
This Build-For-Rent portfolio consists of 134 units on 128 finished lots in an established community. A buyer can select between townhouses, duplexes, and various sizes of single family finished lots. Because a buyer is able to select the lot, floor plan, and builder for their portfolio, they are able to optimize their portfolio needs. As this community is entirely a new build residence, the owner’s repair and maintenance will be drastically limited. The Rice Hope community is located minutes from Historic Downtown Savannah and only 1.5 miles from the I-95 Interchange. Metro Savannah has a population of approximately 387,543 people. Rice Hope has two pools, a lazy river and water slide, a lake for fishing and canoeing, bike trails, a clubhouse, and a beautiful fitness center. A newly constructed school for grades 3 – 8 is located within walking distance. In addition, Publix shopping center is less than a mile from the community entrance. The I-95 interchange at exit 109 for Rice Hope has been dramatically improved with a new diverging full diamond interchange. The primary draw to Savannah is its Historic Downtown area. The historic downtown area attracts millions of visitors every year. Being so close to Savannah provides the opportunity for tenants to experience the magic of Southern Charm and antebellum architecture Savannah offers. It also means residents are close to other coastal amenities.
The Rice Hope community is located minutes from Historic Downtown Savannah and only 1.5 miles from the I-95 Interchange. Metro Savannah has a population of approximately 387,543 people. Rice Hope has two pools, a lazy river and water slide, a lake for fishing and canoing, bike trails, and a club house. There is also a fitness center. A new school for grades 3 – 8 is located within walking distance. A new Publix shopping center with a new traffic light is less than a mile from the community entrance. The I-95 interchange at exit 109 for Rice Hope has been dramatically improved with a new diverging full diamond interchange.

The primary draw to Savannah is its Historic Downtown area. The historic downtown area attracts millions of visitors every year. Being so close to Savannah provides the opportunity for tenants to experience the magic of Southern Charm and antebellum architecture Savannah offers. It also means residents are close to other coastal amenities.

Location

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