843-460-7354
1155 Clemson Frontage Rd, Columbia, SC for Sale
Apartments - FOR SALE
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1155 Clemson Frontage Rd
Columbia, SC 29229


HIGHLIGHTS

  • Meticulously maintained 240 unit, 2008 construction complex offered below replacement cost in the fast-growing Wildwood submarket of NE Columbia
  • Day one opportunity to raise rents on average $150/unit without any systematic upgrades to bring property in-line with the market.
  • With only 2 owners since construction, the property is a blank canvas for a value-add investor, with all original fixtures and finishes in all units
  • Affluent submarket with a new Publix Shopping Center being constructed less than a mile away and the average area median income of $100,000+.
  • Current ownership is a non-profit foundation and is not currently taxed. Certain household limits apply to a percentage of current residents

OVERVIEW

Companion at the Palms offers investors the opportunity to acquire a truly unique garden-style multifamily asset in the booming Northeast section of South Carolina’s capital, Columbia. Constructed in 2008 by Blue Ridge Companies, this 2 owner 240-unit complex offers an ideal mix of one, two, and three-bedroom floor plans all still with their original finishes. The units average 1,062 sf providing some of the largest floorplans in the surrounding comparable properties. The property has a superior location in the Wildewood submarket, one of Columbia’s most sought-after neighborhoods and is best known for housing several golf courses and the Sesquicentennial State Park, which offers kayaking, trails, and a dog park. With an award-winning school district and plenty of restaurants and stores nearby, the area boasts strong demographics, most notably an average area median income of over $100,000. Residents have access to U.S. Route 1 and Interstate 20 and 77 so they can travel throughout the metro area with ease. The property is also near the Sandhill Research and Education Center, a great option for employees who want to be close to campus. The high-quality design, affluent submarket with many employers nearby, and opportunity to renovate the original interiors to a finish level on par with new construction, all combine to offer a unique opportunity sure to achieve outsized returns for new ownership.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

240

CAP RATE

Request Cap Rate

% LEASED

99%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Companion at the Palms

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2008

PARKING SPACES

546

LAND DETAILS

LAND ACRES

22.84 AC

LAND SF

994,910 SF

ZONING

GC

APN/PARCEL ID

25700-02-04

ASK ABOUT THIS PROPERTY

Kay HillNAI Earle Furman LLCMore Info
843-460-7354

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Kay HillNAI Earle Furman LLCMore Info
843-460-7354

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.