Investment Overview

Marcus & Millichap is pleased to present Blandford Villas, located in Rincon, Georgia, just 20 miles north of Downtown Savannah. The subject property, built in 2022, consists of 16 townhome-style units across two buildings. All units are 3 Bed / 2.5 Bath, totaling 1,750 SQFT with 36 parking spaces. The property was purchased from the developer in April 2023, with most units vacant. The current ownership has added washer-dryer connections, privacy fences, and upgraded landscaping. Along with these upgrades, ownership has increased the average rent on the property to $1,994, with the highest rent at $2,150, and added a monthly community fee of $30 per month per unit. Ellabell, GA located 20 miles from Rincon, will soon be the home of the newly announced $7.6B Hyundai EV plant, bringing in 8,000+ jobs for the plant alone and another 6,000 to the local economy from suppliers opening shops in nearby counties. This plant is scheduled to begin manufacturing as early as 2025, with the possibility of opening before the end of 2024. The property is also 14 miles from the Gulfstream manufacturing plant and headquarters, as well as 20 miles from the heart of Savannah, GA. New ownership has the opportunity to acquire a new build, turnkey asset located in a strong submarket of Savannah, GA.