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Multifamily

College Park Apartments

102 College Park Dr, Clinton, SC 29325

Listing Price: $1,550,000

Cap Rate
5.35%
Number of Units
15
GRM
8.88
Occupancy
95.0%
Price/Unit
$103,333
Price/Gross SF
$139.64
Gross SF
11,100

Investment Overview

Marcus & Millichap is pleased to present College Park Apartments, located at 102 College Park Drive in Clinton, situated between Greenville and Columbia, South Carolina. The subject property consists of 15 total units on 1.9 +/- acres. The current unit mix includes two, three, four, and five-bedroom units. Recent renovations include a new roof installed on all the units in December 2023.

New ownership has the opportunity to acquire a well-maintained 1994-built asset, originally constructed by the current owner. The property offers significant upside potential, with the opportunity to increase rents by 14% or more. Furthermore, there is potential for constructing two additional units on the property, leveraging existing water and sewer infrastructure, subject to city approval. Additionally, the sellers are offering seller financing for this deal; see terms below.

Seller Finance Terms:
- 75% LTV
- 6.50% Interest Rate
- 36 Months Interest Only
- 40 Year Amortization
- 10 Year Term (Open to longer)

Conveniently located near major interstate highways, the local workforce is strong and stable, with major corporations such as ZF Group and BMW Spartanburg Plant nearby. Plans for expansion at these facilities indicate further growth for the rental market in Clinton, with ZF Gray Court scheduled to invest $500 million and bring over 400 jobs to Laurens County in 2025. Other prominent employers include a Walmart Distribution Center and Sterilite Corporation, ensuring consistent demand for rental properties like College Park.

Investment Highlights

  • Seller Financing Available
  • Ability to Increase Rents by 14%+
  • Owned by Original Builder of the Property
  • Located between Greenville and Columbia SC

Exclusively Listed By

Financing By

Multifamily

College Park Apartments

Listing Price: $1,550,000

Cap Rate
5.35%
Number of Units
15
GRM
8.88
Occupancy
95.0%
Price/Unit
$103,333
Price/Gross SF
$139.64
Gross SF
11,100

Investment Highlights

  • Seller Financing Available
  • Ability to Increase Rents by 14%+
  • Owned by Original Builder of the Property
  • Located between Greenville and Columbia SC

Investment Overview

Marcus & Millichap is pleased to present College Park Apartments, located at 102 College Park Drive in Clinton, situated between Greenville and Columbia, South Carolina. The subject property consists of 15 total units on 1.9 +/- acres. The current unit mix includes two, three, four, and five-bedroom units. Recent renovations include a new roof installed on all the units in December 2023. New ownership has the opportunity to acquire a well-maintained 1994-built asset, originally constructed by the current owner. The property offers significant upside potential, with the opportunity to increase rents by 14% or more. Furthermore, there is potential for constructing two additional units on the property, leveraging existing water and sewer infrastructure, subject to city approval. Additionally, the sellers are offering seller financing for this deal; see terms below. Seller Finance Terms: - 75% LTV - 6.50% Interest Rate - 36 Months Interest Only - 40 Year Amortization - 10 Year Term (Open to longer) Conveniently located near major interstate highways, the local workforce is strong and stable, with major corporations such as ZF Group and BMW Spartanburg Plant nearby. Plans for expansion at these facilities indicate further growth for the rental market in Clinton, with ZF Gray Court scheduled to invest $500 million and bring over 400 jobs to Laurens County in 2025. Other prominent employers include a Walmart Distribution Center and Sterilite Corporation, ensuring consistent demand for rental properties like College Park.

Exclusively Listed By

Financing By

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