Multifamily

Country Club Apartments

525 Woodland Dr, Florence, SC 29501

Listing Price: $3,850,000

Cap Rate
7.07%
Number of Units
52
GRM
8.84
Occupancy
99.00%
Price/Unit
$74,038
Price/Gross SF
$82.26
Gross SF
46,800

Investment Overview

Marcus & Millichap is pleased to present for sale the Country Club Apartments in Florence, South Carolina. The subject property is a 52 unit Multifamily investment property consists of two bedroom/one bathroom units. The property is currently 98% occupied with a strong rental history. The Country Club Apartments are in a very desirable location, less than a mile from Florence Country Club and four miles from downtown Florence. All tenants pay for electricity and water is paid for by ownership. Each building has public washer and dryer which is coin operated. The propertys electric expenses include outside lighting, hallway lighting, and the street lights. The roofs were replaced in 2017 and an average of five HVAC units are replaced annually. There is the opportunity for investors to add value with interior upgrades to the units.

The location is within close proximity to convenient grocery shopping and dining destinations. Food Lion, the Florence Mall, and a Walmart Super-center are located just west of the subject property. Florence County is home to Patheons $70 million facility, Hondas $45-million facility expansion project (2016), and GE Healthcares $40- million facility expansion project (2017).

Investment Highlights

  • Value-Add Potential
  • A Well-Maintained Property, with New Roofs as of 2017
  • Less than a Mile from Several Large Retailers

Exclusively Listed By

Multifamily

Country Club Apartments

Listing Price: $3,850,000

Cap Rate
7.07%
Number of Units
52
GRM
8.84
Occupancy
99.00%
Price/Unit
$74,038
Price/Gross SF
$82.26
Gross SF
46,800

Investment Highlights

  • Value-Add Potential
  • A Well-Maintained Property, with New Roofs as of 2017
  • Less than a Mile from Several Large Retailers

Investment Overview

Marcus & Millichap is pleased to present for sale the Country Club Apartments in Florence, South Carolina. The subject property is a 52 unit Multifamily investment property consists of two bedroom/one bathroom units. The property is currently 98% occupied with a strong rental history. The Country Club Apartments are in a very desirable location, less than a mile from Florence Country Club and four miles from downtown Florence. All tenants pay for electricity and water is paid for by ownership. Each building has public washer and dryer which is coin operated. The propertys electric expenses include outside lighting, hallway lighting, and the street lights. The roofs were replaced in 2017 and an average of five HVAC units are replaced annually. There is the opportunity for investors to add value with interior upgrades to the units.

The location is within close proximity to convenient grocery shopping and dining destinations. Food Lion, the Florence Mall, and a Walmart Super-center are located just west of the subject property. Florence County is home to Patheons $70 million facility, Hondas $45-million facility expansion project (2016), and GE Healthcares $40- million facility expansion project (2017).

Exclusively Listed By

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