$4,350,000
Take advantage of this extraordinary opportunity to invest in a Savannah mid-century cultural legacy property, fully renovated and realized in 2026, with a clear operational upside and increasing long-term real-estate value. The Greys @ 52nd -- a gated, 19-unit, fully furnished and equipped, mid-term rental complex -- was built in 1955 as a Green Book motel that welcomed African-American travelers and visitors, including celebrity musicians such as James Brown, Jackie Wilson, and Little Richard, who played Savannah’s clubs en route to larger cities. Today the pristine property retains its retro exterior look but offers a unique residential option to the area’s increasing rental market. The Greys are fully leased with a waiting list. With rents currently priced below market during this first year of operation, the property presents potential for a new owner to increase income as well as overall asset value. The lease terms are 3 to 12 months with the majority at 6 so opportunities to increase rents come often. What’s more, The Greys offers exceptional operational and money-saving advantages, including leading edge technology and efficiency measures, distinguishing it from other purchase options in the rental property class.
Originally opened as the Brayboy Hotel, the iconic 4-building property encompasses .49 acres, w parking for 21 vehicles. The exterior’s renovated yet vintage character belies its stylish, contemporary 1 BD/1BA, 1 BD/2BA, and studio apartments, some with private courtyards. The stunning interiors are consistent throughout boasting sleek modern furnishings that maximize space and livability, including clever built-ins (such as desks, dining surfaces & ironing boards) & closet/storage space. Full-size kitchens w granite counters & SS appliances are equipped to a T. Remotely operated mounted TVs and ceiling fans along with recessed lighting, LVP flooring, & tile bathrooms finish out the interiors. All units feature the same neutral grey pallet and interchangeable furniture for easy maintenance & changeover. The units offer abundant natural light and our outfitted with blackout curtains.
An innovative, simplified business model enables operations to be carried out primarily with a cell phone and app (repairs and maintenance being the primary exceptions). Rents are all-inclusive and utilities average $90/month/unit. Foam insulation, double-pane windows, and mini-splits ACs keep energy costs low. (Units are individually metered for electricity, offering the opportunity for separate billing, if preferred.) Eight gas-powered tankless water heaters on four meters service the entire complex, including a digital-pay, income-producing laundry room. A Starlink internet hub provides WIFI throughout. Security and safety features include gated entry, surveillance cameras, keyless unit entry, privacy fence in back, smoke & carbon dioxide detectors, fire alarm system and in-unit sprinklers.
Located in Savannah’s growing mid-town, The Greys is 0.5 miles from the SCAD (Savannah College of Art & Design) Industrial Design Complex and Gulfstream Center for Design, 1.2 miles from the Starland Art District (heralded in the New York Times for its creative vibe), and 1.8 miles to Savannah’s Landmark District, internationally recognized for architecture, restaurants, nightlife, galleries, museums and the bustling Riverfront. The Greys are a short drive to Rt 516 (1.6 miles) and Rt 16 (1.4 miles) allowing commutes to Gulfstream Aerospace, the Savannah/Hilton Head International Airport, Ports of Georgia & JCB. Other employers to the east include Memorial and St. Joseph/Candler Hospitals (2.5 miles) & Southside (2.3 miles) with thousands of businesses, including grocery store chains, retail shops, automobile dealerships, teaching institutions, and more. Hospitality jobs are both Downtown & throughout the area.
SA361950
MLS
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The Greys @ 52nd BLDG.
733 W 52nd St, Savannah
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