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Multifamily

Chestnut Court Apartments

722 Douglas St, Camden, SC 29020

Listing Price: $2,750,000

Cap Rate
5.95%
Number of Units
51
GRM
5.37
Occupancy
96.0%
Price/Unit
$53,922
Price/Gross SF
$71.53
Gross SF
38,445

Investment Overview

Marcus & Millichap is pleased to present Chestnut Court Apartments, located in Camden, South Carolina, just 30 miles northeast of the state's capital, Columbia.

The subject property consists of 51 total units across 5 continuous parcels currently run as one property. The largest parcel consists of 30 units, while the other parcels consist of 21 units. This offers a diverse unit mix of one, two, and three bedrooms.

Current ownership has maintained high occupancy and updated 21 of the units with minor upgrades, such as new paint and repairs, as needed upon turnover. The only utility tenants currently pay for is electric and ownership pays for water, sewer, and trash.

New ownership has an opportunity to perform value add by renovating, increasing rents to market, and implementing a bill back for water/sewer.

Investment Highlights

  • Diverse Unit Mix
  • Implement Utility Bill Backs for Water/Sewer
  • Value Add by Renovating and Increasing Rents to Market

Exclusively Listed By

Financing By

Multifamily

Chestnut Court Apartments

Listing Price: $2,750,000

Cap Rate
5.95%
Number of Units
51
GRM
5.37
Occupancy
96.0%
Price/Unit
$53,922
Price/Gross SF
$71.53
Gross SF
38,445

Investment Highlights

  • Diverse Unit Mix
  • Implement Utility Bill Backs for Water/Sewer
  • Value Add by Renovating and Increasing Rents to Market

Investment Overview

Marcus & Millichap is pleased to present Chestnut Court Apartments, located in Camden, South Carolina, just 30 miles northeast of the state's capital, Columbia. The subject property consists of 51 total units across 5 continuous parcels currently run as one property. The largest parcel consists of 30 units, while the other parcels consist of 21 units. This offers a diverse unit mix of one, two, and three bedrooms. Current ownership has maintained high occupancy and updated 21 of the units with minor upgrades, such as new paint and repairs, as needed upon turnover. The only utility tenants currently pay for is electric and ownership pays for water, sewer, and trash. New ownership has an opportunity to perform value add by renovating, increasing rents to market, and implementing a bill back for water/sewer.

Exclusively Listed By

Financing By

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