$635,000

Get in on downtown Augusta's ascendance with this value-add property project with preliminarily approved plans to convert to thirteen modern units: nine studios and four traditional apartments, with shared off-street parking. Telfair Square Studios & Apartments is in two contiguous historic buildings located in the heart of the community of Olde Town, with the much loved Fox's Lair and Olde Town Inn next door and Heritage Academy a block away, only a short walk from the Savannah River and many of the city's most dynamic employers, entertainment venues, restaurants and museums. Once part of the Telfair Inns complex, the existing buildings consist of inn suites with bathrooms and a couple of larger apartments. Three currently occupied apartments with full kitchens and laundry are leased month-to-month. Schematic plans show how one of the buildings can be rehabbed into nine very nice modern studio units. Ask about similar conversions in the block with a strong history of high occupancy and increasing rents. A seller is licensed real estate broker and is related to listing agent. Seller requires proof of funds or financing approval to schedule appointments. Tenants must be given at least 24 hours notice to view occupied units. Opportunity zone; 1031 exchange ready; qualifies for historic preservation easement which Seller will initiate prior to closing. Invest in Augusta's future while preserving a beautiful piece of its history!