Investment Overview

Marcus & Millichap is pleased to present Colonial Garden Apartments, a newly constructed 24-unit multifamily community located in Longs, South Carolina. Built in 2023 and situated on approximately 0.89 acres, the property consists exclusively of spacious two-bedroom units, offering a highly desirable and efficient unit mix tailored to workforce housing demand. As a recently delivered asset, Colonial Garden Apartments provides investors with a true turnkey opportunity featuring modern construction, minimal deferred maintenance, and strong in-place fundamentals, positioning the asset for stable cash flow and reduced capital expenditure requirements over the near and long term. Colonial Garden Apartments benefits from its strategic location within the rapidly expanding Grand Strand region, just a short drive from Myrtle Beach, one of the Southeast’s premier coastal destinations. The Myrtle Beach metropolitan area continues to experience steady population and employment growth, supported by a diverse economic base anchored by tourism, healthcare, retail, and service industries. Longs has emerged as an attractive residential alternative due to its relative affordability and proximity to the coast, offering residents convenient access to employment centers, retail amenities, and lifestyle drivers while maintaining a suburban environment. Continued in-migration and home price appreciation across the region further reinforce rental demand, creating a favorable backdrop for sustained occupancy and rental growth.