Student Housing

Devine St. Apartments

Listing Price: $900,000

Cap Rate
5.18%
Number of Units
5
GRM
10.29
Occupancy
97.67%
Price/Unit
$180,000
Price/Gross SF
$150.00
Gross SF
6,000

Investment Overview

The 1851 Devine Street Apartments, built in 1949, are in Columbia, South Carolina. The subject property is just a five-minute walk from The University of South Carolina, Midtown, and the popular Columbia neighborhood: Five Points. The property consists of five units on 0.21 acres of land with parking. The Devine Street Apartments, ideally located for students, offers shopping, dining, and entertainment, and proximity to the University of South Carolina main campus. The brick exterior five-plex building includes large rooms and lofted ceilings.

The unit mix consists of 4 two-bedroom units, and one three-bedroom unit. All two-bedroom units are 1,200 square feet, and rent for $1,400 a month. The three-bedroom unit is also 1,200 square feet and rents for $1,690 a month. There is enough parking onsite for tenants. An investor has an opportunity to capitalize on the ideally-positioned asset, and add value through exterior and interior improvements and upgrades to the existing amenities.

Investment Highlights

  • Columbia, SC is Experiencing Consistent Employment Growth and a Rent Growth
  • The Property is Ideally Positioned in the Popular Five Points Neighborhood
  • There is a Significant Opportunity for Interior and Exterior Upgrades to the Property

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Listing Price: $900,000

Cap Rate
5.18%
Number of Units
5
GRM
10.29
Occupancy
97.67%
Price/Unit
$180,000
Price/Gross SF
$150.00
Gross SF
6,000

Investment Highlights

  • Columbia, SC is Experiencing Consistent Employment Growth and a Rent Growth
  • The Property is Ideally Positioned in the Popular Five Points Neighborhood
  • There is a Significant Opportunity for Interior and Exterior Upgrades to the Property

Investment Overview

The 1851 Devine Street Apartments, built in 1949, are in Columbia, South Carolina. The subject property is just a five-minute walk from The University of South Carolina, Midtown, and the popular Columbia neighborhood: Five Points. The property consists of five units on 0.21 acres of land with parking. The Devine Street Apartments, ideally located for students, offers shopping, dining, and entertainment, and proximity to the University of South Carolina main campus. The brick exterior five-plex building includes large rooms and lofted ceilings.

The unit mix consists of 4 two-bedroom units, and one three-bedroom unit. All two-bedroom units are 1,200 square feet, and rent for $1,400 a month. The three-bedroom unit is also 1,200 square feet and rents for $1,690 a month. There is enough parking onsite for tenants. An investor has an opportunity to capitalize on the ideally-positioned asset, and add value through exterior and interior improvements and upgrades to the existing amenities.

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

MM Texture Background
MM Textured Background Lower