1801 Butler Ave, Tybee Island, GA 31328

LOOKING FOR AN INVESTMENT WITH GROWTH POTENTIAL? THE TAX FAIR MARKET VALUE INCREASED $255,700.00 (OVER 55%) FROM 2013 TO 2014!Owner will finance with down payment. Apartment house (currently), deluxe private residence, income-producing apartments with a deluxe owner's apartment, or a bed and breakfast (check current zoning requirements) are all options for usage of this property located at Savannah's Beach, Tybee Island, Georgia. One of Tybee Island's historic beach homes built in 1924, this 2 story, 5000 sq. ft. building located on the south end of the island is just one block from the beach in any of 3 directions. It is located in a quiet residential area, but it is just 3 blocks from Tybee's main shopping and nightlife area. Its total renovation was completed in 1996 including major structural, and all new electrical and plumbing improvements. It currently contains 7 apartments; 3 contain @ 1000 sq. ft. each and 4 contain @ 500 sq. ft. each. Each unit contains its own kitchen and full bath, and all are well maintained. The layout of this house lends itself to many possibilities and options as regards usage. The top floor contains a deluxe owner's apartment (@ 1000 sq. ft.) with shared deck in the rear, another large apartment (@ 1000 sq. ft.) with a private deck and a glimpse of the ocean in the front, and a quiet, charming apartment (@ 500 sq. ft.) that also shares the back deck. The 2 larger apartments were formerly connected by a double door entranceway that could easily be reopened to form one large (@ 2000 sq. ft.), at least 3 bedroom, 2 bath apartment. It would also be easily possible to connect the third apartment internally, so the whole top floor (2500 sq. ft.) could be one apartment. The ground floor has the advantage of easy accessibility for the elderly and handicapped; current building codes prohibit new ground floor construction. The ground floor contains 4 apartments; one large (@ 1000 sq. ft.) apartment and 3 smaller (@ 500 sq. ft. each) apartments. Again, it would be simple to reconnect these apartments to form larger units if desired. This apartment house has an excellent rental history and has been occupied by long-term tenants with year leases. It could also be used for seasonal rentals, or it could easily be adapted as a bed and breakfast. One of the apartments formerly housed an art gallery. This island is accessible by a 7 mile causeway with a spectacular view. This limited access is one reason for the exceptionally low incidence of serious crime on the island. You can feel safe walking alone on the beach at 2:00am. Its proximity to Savannah, Georgia, about 15 - 20 minutes by car, assures you of all the amenities of a metropolitan area. Appraisal July 2005Indicated value by sales comparison approach: $875,000.00.Indicated value by income approach: $922,500.00.Indicated value by cost approach: $1,024,612.00.Additional property info: http://www.forsalebyowner.com/listing/9-bed-Commercial-property-for-sale-by-owner-1801-Butler-Ave-31328/21044605?provider_id=28079