Skip to main content

Multifamily

Westwood Estates

100 Riverbend Dr, West Columbia, SC 29169

Listing Price: Request For Offer

Number of Units
419
Occupancy
69.5%

Investment Overview

Located just two miles from Downtown Columbia along Highway 378, Westwood Estates resides on an expansive 20.31-acre site and offers an attractive array of one-, two-, and three-bedroom units with a variety of floor plan options with ample green space and amenities
for tenants to enjoy.

Current ownership has invested over $7.5MM in the property, addressing deferred maintenance needs, upgrading the property’s amenities, and making upgrades and repairs to the interior units. Although some of the interior units were upgraded, there is additional value-add to be achieved by upgrading the remaining interior units and making additional amenity enhancements.

100 of the 419 units have received a “Premium” renovation package, which includes the installation of LVT flooring, new appliances, cabinetry, countertops, and hardware fixtures. These upgrades have averaged $12,000 and yield a premium of ~$100 across all unit types. The demand for renovated units suggests there is room to push these rents higher. There are 39 down units remaining on the property that can be upgraded to a similar

280 of the 419 units have received a “Standard” renovation package, which includes necessary unit repairs and cosmetic upgrades.

By completing the proven value-add upgrades to the remaining standard units and utilizing a professional property management team the new owner has an opportunity to significantly boost revenue on the property.

Investment Highlights

  • Proven value-add strategy and opportunity to stabilize through implementation of professional property management and continued unit renovations.
  • Conveniently located on US 378 in the heart of an expanding West Columbia community, and in close proximity to new and exciting mixed-use projects, retail, restaurants, and services.
  • Just across the river from Downtown Columbia/USC campus, with convenient commuter access to major nearby employers including hospitals, Amazon distribution, and manufacturing jobs.
  • Attractive unit mix of one-, two-, and three-bedroom apartments with several floor plan options.

Exclusively Listed By

Financing By

Multifamily

Westwood Estates

Listing Price: Request For Offer

Number of Units
419
Occupancy
69.5%

Investment Highlights

  • Proven value-add strategy and opportunity to stabilize through implementation of professional property management and continued unit renovations.
  • Conveniently located on US 378 in the heart of an expanding West Columbia community, and in close proximity to new and exciting mixed-use projects, retail, restaurants, and services.
  • Just across the river from Downtown Columbia/USC campus, with convenient commuter access to major nearby employers including hospitals, Amazon distribution, and manufacturing jobs.
  • Attractive unit mix of one-, two-, and three-bedroom apartments with several floor plan options.

Investment Overview

Located just two miles from Downtown Columbia along Highway 378, Westwood Estates resides on an expansive 20.31-acre site and offers an attractive array of one-, two-, and three-bedroom units with a variety of floor plan options with ample green space and amenities for tenants to enjoy. Current ownership has invested over $7.5MM in the property, addressing deferred maintenance needs, upgrading the property’s amenities, and making upgrades and repairs to the interior units. Although some of the interior units were upgraded, there is additional value-add to be achieved by upgrading the remaining interior units and making additional amenity enhancements. 100 of the 419 units have received a “Premium” renovation package, which includes the installation of LVT flooring, new appliances, cabinetry, countertops, and hardware fixtures. These upgrades have averaged $12,000 and yield a premium of ~$100 across all unit types. The demand for renovated units suggests there is room to push these rents higher. There are 39 down units remaining on the property that can be upgraded to a similar 280 of the 419 units have received a “Standard” renovation package, which includes necessary unit repairs and cosmetic upgrades. By completing the proven value-add upgrades to the remaining standard units and utilizing a professional property management team the new owner has an opportunity to significantly boost revenue on the property.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower