A FOR SALE OFFERING OF THE DELESSEPS APARTMENTS 1916, 1918 AND 2002 DELESSEPS AVENUE SAVANNAH, CHATHAM COUNTY, GEORGIA 31404 PRESENTED BY WHITLEY AND ASSOCIATES, INC. 800 COMMERCIAL COURT, SUITE TWO, SAVANNAH, GEORGIA 31406
OFFERING DISCLAIMER This offering summary has been prepared solely for informational purposes. It has been designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the owner, the owner s agent or any of its affiliates. Therefore, neither the owner, the owner s agent nor its affiliates make any representations with respect to the information. All information as contained herein represent best estimates based on assumptions considered reasonable under the circumstances. There are no representations or warranties, expressed or implied. This document is provided subject to errors, omissions, and changes in the information and is subject to modification or withdrawal. The contents herein are not to be reproduced without the express written consent of the owner or any of its affiliates. The owner expressly reserves the right, at their sole discretion, to reject any or all proposals or expressions of interest in the subject property and to terminate discussions with any party at any time with or without notice. In addition, it is expressly understood, that any other agent, prospective purchaser or purchaser has not relied on the information as contained herein and any decision to acquire is based solely on the acquiring parties and it s agents if applicable, independent personal inspections and due diligence.
PROPERTY SUMMARY Property Name: Property Address: Property Type: Delesseps Avenue Apartments 1916, 1918 and 2002 Delesseps Avenue Savannah, Chatham County, Georgia 31404 Garden Style Apartment Community Property Identification Number: 2-0103-08-08, 2-0103-08-009 and 2-0103-08-010 Site Area: Building Improvements: Zoning: +-0.668 Acres (SAGIS) Sixteen, Two Bedroom, One Bath, Garden Style Apartments Contained Within Two, Four Unit Apartment Buildings and One, Eight Unit Apartment Building. Dual Zoning Of Planned Residential (P-R-4) And Planned Multifamily Residential (P-R-M-25) Owner Reported Year 2017 Net Operating Income: $97,450 Offering Price: $1,150,000. For Additional Information Please Contact Ben G. Whitley Whitley & Associates, Inc.. 800 Commercial Court, Suite Two Savannah, Georgia 31401 Office: 912-355-9991 Mobile: 912-662-3482 Email: ben@whitleyandassociates.com
PHYSICAL ATTRIBUTES
PROPERTY DESCRIPTION Address/Location : Delesseps Avenue Apartments 1916, 1918 and 2002 Delesseps Avenue Savannah, Chatham County, Georgia 31404 Property Type/Use : Garden Style Apartment Community Site Size and Boundaries : The underlying land area is estimated to comprise approximately 0.668 acres. With reference to SAGIS and in the aggregate (assemblage) this nearly rectangular shaped site along its southern boundary fronts approximately 278 lineal feet along the northside of the westbound lane of Delesseps Avenue, has an eastern boundary estimated to approximate 105 lineal feet, a northern boundary estimated to approximate 277 lineal feet along the southside of a municipal lane and a western boundary estimated to approximate 105 lineal feet. Access : Direct access to and from the assets is available via two curbs located to the east and west of 1918 Delesseps Avenue. Delesseps Avenue is a secondary arterial that commences to the west at Waters Avenue and terminates to th east at Skidaway Road. This two lane arterial is primarily developed within the single and multifamily sectors, excepting for a few institutional uses and general commercial and retail at the commencement and termination intersections. Building and Site Improvements Description : With reference to the records of Chatham County, it appears each of the three, subject two story buildings were constructed circa 1985 and comprise an aggregate 16, two bedroom, one bath, garden style units oriented within the confines of an approximate 0.668 acre assembled site. Each building is independently identified by the Chatham County Board of Assessors and possess the addresses according to the street numbering system for the City of Savannah of 1916, 1918 and 2002 Delesseps Avenue Again, with reference to the records of the Chatham County Board of Assessors, each of the four unit buildings are estimated to comprise an enclosed, finished, heated and cooled area approximating 4,030 square feet equally divided between two floors suggesting a per unit equivalent of approximately 1,007 square feet and the one, eight unit building is estimated to comprise 7,006 square feet suggesting a per unit equivalent of 875 square feet.
Each building appears to have been constructed at grade on a concrete monolithic slab positioned on concrete footings. The superstructure is assumed to be wood frame finished with an exterior of face brick. The roof superstructure is wood frame assumed to be finished with plywood subbase, asphaltic roll and asphaltic fiberglass shingles. Exterior fenestration includes metal and wood solid core in wood frame doors and double hung, six pane over six pane windows. Although slightly differing in size, each two bedroom, one bath apartment is demised as living room, dining room - kitchen, two bedrooms, one, three fixture restroom, clothing closets, linen closet and an air handler closet. Interior finishes at each apartment generally include painted gypsum wallboard walls with paneled wainscoting in the dining room - kitchen, textured gypsum wallboard ceilings, carpet and vinyl tile floorings. Kitchens are equipped with a refrigerator, electric range - oven, dishwasher, hood vent, disposal, double stainless steel sink, approximately 8 lineal feet of laminate type counter-top, approximately 10 lineal feet of wall cabinetry, approximately 5 lineal feet of base cabinetry and washer and dryer connections. Interior fenestration generally includes wood hollow core doors with brass plated hardware and each unit is independently climate controlled. Site Improvements : Hardscape improvements include concrete sidewalks and concrete and asphalt paved vehicular drives and parking areas to accommodate approximately 28 vehicles. Landscaped improvements feature numerous trees, various flowering bushes, shrubs and grassed areas.
AREA AND NEIGHBORHOOD MAPS Area Map
Neighborhood Map
AERIAL IMAGES Northerly Aerial View Of The Subject Southerly Aerial View Of The Subject Easterly Aerial View Of The Subject Westerly Aerial View Of The Subject
SUBJECT PHOTOGRAPHS View Of The Southern Elevation Of 1916 Delesseps Avenue. View Of The Eastern And Northern Elevations Of 1916 Delesseps Avenue. View Of The Southern And Eastern Elevations Of 1918 Delesseps Avenue. View Of Eastern And Northern Elevations Of 1918 Delesseps Avenue.
View Of The Southern Elevation Of 2002 Delesseps Avenue. View Of The Eastern And Northern Elevations Of 2002 Delesseps Avenue. Easterly Interior View Of The Complex. Westerly Interior View Of The Complex..
Interior View Of Living Room Of A Typical Unit. Interior View Of The Dining Room - Kitchen Of A Typical Unit. Interior View Of A Bedroom Of A Typical Unit. Interior View Of The Bathroom Of A Typical Unit.
Interior View Of Living Room Of A Typical Unit. Interior View Of The Dining Room - Kitchen Of A Typical Unit. Interior View Of A Bedroom Of A Typical Unit. Interior View Of A Bathroom Of A Typical Unit.
SAGIS DIGITAL IMAGE
SAGIS AERIAL IMAGE
SAGIS FLOOD MAP
SAGIS ZONING MAP
FISCAL ATTRIBUTES
DELESSEPS AVENUE HISTORICAL 2017 OPERATING DATA INCOME EXPENSES (Note 1) Gross Apartment Revenue January 1, 2017- December 31, 2017 $130,060 Ad Valorem Taxes $16,889 Hazard Insurance Premiums 5,534 Cleaning - Maintenance 2,777 Repairs 4,248 Utilities 146 Legal Fees 149 Termite Bond Renewals 480 Grounds And Landscaping 2,387 TOTAL EXPENSES $ 32,610 OWNERSHIP REPORTED NET OPERATING INCOME $ 97,450 NOTE 1: Reference is made to the 2017 Historical Operating Statements for the Delesseps Avenue Apartments provided by ownership.
1916 DELESSEPS AVENUE - RENT ROLL AS OF JULY 1, 2018 UNIT NO. TENANT NAME MONTHLY RENT SECURITY DEPOSIT 1 Clark $630.00 $500.00 2 Freeman $725.00 $500.00 3 Shepard $695.00 $500.00 4 Loadholt $590.00 $400.00 1918 DELESSEPS AVENUE - RENT ROLL AS OF JULY 1, 2018 1 Pugh $695.00 $500.00 2 Hendrix $660.00 $1,500.00 3 Lowe $725.00 $500.00 4 Jones $630.00 $500.00 5 Yeomans $725.00 $1,000.00 6 Lawrence $725.00 $500.00 7 Campbell $725.00 $500.00 8 Middleton $695.00 $500.00 2002 DELESSEPS AVENUE - RENT ROLL AS OF JULY 1, 2018 1 Lewis $695.00 $500.00 2 Dallas $725.00 $500.00 3 Johnson $630.00 $500.00 4 Jasper-Cooly $660.00 $500.00 Totals 16 Units $10,930.00/$683.13 $9,400.00