24 Unit Apartment Complex in Opp Zone

Multi-Family for Sale
Catylist Listing ID: 30453772
Property Subtypes: Low-Rise/Garden
Number of Units: 24 Units
Building Size (RSF): 24,842 SF
Gross Building Area: See Agent
Sale Price: $1,000,000
Unit Price: $41,666.67 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Village Apartments
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 8.0%
Last Updated: 7/31/2019

Overview / Comments

24 Unit Low-Rise apartment building in Trenton, SC. This property sits squarely within an opportunity zone making it a prime candidate for an opportunity fund project. The property consists of two buildings, each with 12 units. The units are a mix of 1, 2 and 3 bedroom units. Projected gross income for 2019 is over 135k. 2019 YTD as of June 2019 is over 66k in gross income. The property has been well maintained, but there are many CapEx items that can be addressed to help with Opportunity Fund qualifications. In addition, these units could be significantly updated to further help. There may also be an opportunity add more units or a laundry facility depending upon scope of work. This property could be a great candidate for an Opp Fund.

Trenton, SC is roughly 30 minutes from Augusta and Aiken. While Trenton may be small, there is a significant amount of employment and industry in this small area. Such employers include, Samsung facility, Bridgestone Tires facility, US Fibers facility and large scale plant nurseries.

Owner is currently in process of changing management as they were unhappy with previous management. We will require an LOI or ratified contract before showing. Financials can be sent on request.

Additional Details

Nearest MSA: Augusta-Richmond County
County: Edgefield
Tax ID/APN: 1730002023000
Percent Occupied: 95%
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 2
Year Built: 1970
Roof Type: Mansard
Construction/Siding: Brick, Vinyl Siding
Exterior Description: Brick and vinyl siding exterior with Mansard roofs.
Parking Type: Surface
Laundry: Laundromat Nearby

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,648 9,197
Median Age: 35.91 38.67
Households: 1,189 2,575

Contact

Photograph of Listing Agent

Troy F Gandee

Maven Realty SCCMLS Member
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