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$1,400,000
Est. payment /mo
24,000 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment Complex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 113256
Square Footage 24,000 sqft
Price per Sqft $58
Subdivision City
MLS Listing ID 2602428
Year Built 1989
Lot Size 2.600 Acres
Property Sub-Type Apartment Complex
Property Description
Greystone Apartments presents an opportunity to acquire a 30-unit multifamily community comprised of 15 duplex buildings in Cheraw, South Carolina. The property consists primarily of 2-bedroom, 1-bathroom units, with five 3-bedroom units and three 1-bedroom, 1-bathroom units. Most units are approximately 800 square feet. Current ownership has implemented rent increases and completed select improvements, including updates to plumbing, appliances, and cabinetry in various units. With the property being self-managed by an out-of-town owner, a significant Value-Add Opportunity exists for an investor to further improve operations, increase efficiencies, reduce vacancy loss, and maximize rental income through professional local management. At 100% occupancy, the property generates projected annual gross rental income of approximately $257,700. The unit mix, manageable building configuration, and continued upside potential make Greystone Apartments an attractive investment for buyers seeking stable cash flow with opportunities for future growth. Conveniently located in Cheraw, SC, this multifamily asset offers investors the chance to acquire a sizable apartment community in a growing rental market with proven demand for affordable workforce housing.
Location
State SC
County Chesterfield
Area Cheraw
Interior
Heating Base Electric
Flooring Vinyl, Luxury Vinyl Plank
Fireplace No
Exterior
Parking Features Off Street
Roof Type Composite Shingle,Architectural Shingle,Metal
Garage No
Building
Story 1
Sewer Public Sewer
Water Public
Schools
Elementary Schools Other
Middle Schools Other
High Schools Other
School District Other
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Listed by: Choice Realty, Inc. • Jonathan C Lee
NEARBY SCHOOLS & PROPERTIES
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