Discover insights on Savannah’s growing multifamily investment market. RIVR RE has represented the seller on the $1.6 million sale of an 11-unit multifamily residential property at 29 East 67th Street in Midtown Savannah, Georgia. The renovated mid-century apartment building sold at a price reflecting the sustained investor demand for income-producing residential assets in Savannah’s stable and growing rental market. David Gaule and Mandy Henderson of RIVR acted on behalf of the seller throughout the transaction.

The 29 East 67th Street sale marks RIVR’s entry into multifamily investment advisory — broadening the firm’s transaction capability beyond its established commercial leasing and industrial sales practice to include residential investment assets in one of the Southeast’s most consistently performing rental markets.

About the Property — 29 East 67th Street

29 East 67th Street is an 11-unit mid-century modern apartment building in Midtown Savannah — a well-positioned submarket that sits between the Historic District and the Southside, with convenient access to Savannah’s hospitals, SCAD, shopping, and the arterial road network along Abercorn Street and Waters Avenue.

The property has been fully renovated, with individual units updated to include new flooring, appliances, light fixtures, and upgraded plumbing, HVAC, and electrical systems — a comprehensive renovation programme that repositions the asset from dated mid-century stock to competitive, lettable residential accommodation. Dedicated off-street parking for each unit adds a practical amenity that many Midtown properties cannot offer, and the building’s exterior has been restored to reflect the clean aesthetic of the original mid-century architecture.

At 11 units, the property sits in the small multifamily category — large enough to generate meaningful income diversification across multiple tenants, but small enough to be managed efficiently without institutional-scale infrastructure. That size profile makes assets like 29 East 67th Street particularly attractive to private investors seeking active income-generating properties with manageable operational complexity.

Why Savannah’s Multifamily Market Attracts Investors

Savannah’s residential rental market has been one of the most consistently strong in coastal Georgia, driven by a combination of structural demand factors that are unlikely to change materially over the medium term.

The city’s student population — anchored by SCAD’s approximately 15,000 students, supplemented by Armstrong State, Savannah State, and Georgia Southern — creates a permanent base of rental demand in neighbourhoods within reasonable distance of those institutions. Midtown, where 29 East 67th Street is located, is within practical distance of both SCAD and the Waters Avenue medical campus, giving it access to two of the most reliable tenant pools in the market: students and healthcare workers.

Beyond the student market, Savannah’s broader population growth — driven by port expansion, manufacturing investment along the I-16 corridor, and the city’s growing appeal as a destination for remote workers and retirees — continues to absorb residential rental supply and support occupancy and rental growth across the market. For investors, this combination of institutional demand anchors, population growth, and a relatively constrained supply of quality small multifamily stock creates a market where well-positioned assets consistently perform.

Multifamily Investment Advisory in Savannah — Talk to RIVR

RIVR RE advises sellers and buyers of multifamily investment properties across Savannah and the greater Coastal Georgia market. Whether you own a small multifamily asset and are considering a sale, or are an investor looking to acquire income-producing residential property in Savannah, RIVR provides the market knowledge and transaction expertise to advise at every stage of the process.

Contact David Gaule or Mandy Henderson directly to discuss your multifamily investment objectives.

Email: info@rivr.re | Phone: 912 307 9998

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