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Ainsdale Townhomes at The Commons 86 BFR Investment Portfolio Richmond Hill GA
Listing was updated at: 10/11/2018
Property Overview
Price/Rent PSF $ 18,060,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 148,350
Date Available 10/11/2018
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Description

Location
The Savannah Harbor Expansion Project is one of the largest civil works projects in the country. The project is deepening the outer harbor and Savannah River channel to accommodate larger vessels now able to transit the Panama Canal. 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.

Michael J. Toma, director of the Center for Business Analytics and Economic Research, expects the local economy to gain momentum propelled by capital investment projects in the area, including Plant Riverside, Savannah River Landing, and the deepening of the Savannah River.

Richmond Hill is a city within Bryan County, Georgia with a 2017 estimated population of 12,632 residents. The city may be small, but it has experienced a population increase of 34.2% since 2010. Richmond Hill is a historic nautical town. Such areas are often places that visitors and locals go for waterfront activities or taking in the scenery. Overall, Richmond Hill is a city of sales and office workers, professionals, service providers and members of the armed forces. The annual income of a family of four in Richmond Hill equates to $103,308 with the median home value at $190,000 and median rent at $1,119.

All companies that are 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 by capital investment projects in the area, including Plant Riverside, Savannah River Landing, and the deepening of the Savannah River.




Sale
This Build for Rent (BFR) investment portfolio allows a buyer the opportunity to work with an extremely qualified regional builder to acquire 86 to-be-built townhomes. The community, Ainsdale at the Commons in Richmond Hill, Georgia, is close to two military bases and downtown Savannah. Richmond Hill is an affluent suburb of Savannah with quality schools and a quieter way of life.

The community is located a short distance from downtown Savannah, Georgia on major arterial roads. Metro Savannah has a population of approximately 387,543 people. 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. Also close to Fort Stewart and Hunter Army Airfield. The Port of Savannah expansion is a major undertaking and will solidify Savannah’s shipping future and the economic activity that generates.

The seller is extremely qualified and will be able to build out to an agreed upon schedule to allow consistent capital placement. This townhome portfolio will allow an investor to efficiently control ongoing capital expenditures because the homes will be new, built to a high standard, and be under warranty. The 2-story townhomes will be 1,725 square foot, with 3-bedrooms and 2.5-bathrooms, with a 1-car garage.

Location

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