- Proven $300/Unit Premium on Platinum Renovated Units!
- Proven $125+/Unit Premium on Renovated Units
- Over $2M (~$19,000 per Unit) Invested in Capital Expenses!
- Rare Savannah Location Near Employment, Retailers, & Entertainment
- Attractive Two- and Three-Bedroom Townhouse Community with Two Pools
- Stable Operating History and Low Delinquency
- Accelerating Multifamily Fundamentals Driven by the Port of Savannah
- 13.9%+ Loss to Lease can Easily be Captured
- Low Utility Expense
- Opportunity to Provide Additional Amenities
- Offered Free and Clear of Existing Debt
Multiple Proven Interior Value-Add Strategies
Savan Pointe offers the potential for substantial rent increases through multiple proven renovation strategies. The standard renovated units consistently commanded a premium of $125 above classic units, and the platinum renovated units consistently command premiums of $300 per unit above the standard renovated units, demonstrating the strong demand for upgraded living spaces in the area.
- Renovated units: $125 premiums above classic units!
Updates include Formica counters, black or white appliances, vinyl plank flooring, carpets in the bedroom, new cabinet hardware, fresh cabinet paint, modern light fixtures throughout, fans in each bedroom, new window blinds, and new interior doors.
- Platinum renovated units: $300 premiums above renovated units!
Updates include granite countertops, stainless steel appliances, new cabinets, tile backsplash, custom shower tile, new vanities, modern light fixtures throughout, fans in each bedroom, and new window blinds.
There are 41 classic units that have not been renovated and 63 renovated units that can be brought up to the premium renovation level, presenting an opportunity for new ownership to continue investing and unlocking significant value! With this renovation strategy, the average effective rent can be pushed from $1,164 to $1,583 which represents a $419 or 36% increase in top-line revenue – annually, that equates to $548,364!!
Over $2M (~$19,000 Per Unit) Invested in Capital Expenses!
Savan Pointe has undergone extensive capital improvements, with over $2 million invested in upgrades and enhancements. These improvements include roof replacements, HVAC systems, and other major components, ensuring that the property is well-maintained and positioned for long-term success. Investors can benefit from the peace of mind that comes with knowing that significant capital expenses have already been addressed, providing a strong foundation upon which to continue interior value-add renovations.
Five-Year CapEx Highlights
- Over $1M Invested into Renovating the Interiors!
- Majority of Roofs have Been Replaced
- All New Exterior Windows and Shutters
- All New Exterior and Interior Doors
- Exterior Lighting
- ~80% of the HVAC has been Replaced
Exceptional Location Near Employment, Retailers, & Entertainment
Savan Pointe boasts an exceptional location in the heart of Savannah, offering convenient access to employment centers, retailers, and entertainment options. Situated in a highly desirable area, the property is near major employers including large corporations, the port of Savannah, universities, and medical centers. Tenants will appreciate the convenience of nearby shopping, dining, and entertainment venues, creating a desirable lifestyle and enhancing tenant retention.
