Student Housing Portfolio - Residential Income FOR SALE


Columbia, SC 29208
$28,250,000 USD
803-331-4586
Student Housing Portfolio, Columbia, SC for Sale
$28,250,000 USD
Residential Income - FOR SALE
1/44
null | 6.97% Cap Rate

Student Housing Portfolio
Columbia, SC 29208


HIGHLIGHTS

  • Already 94.3% Pre-leased for 2025-2026 school year, Proximity to campus ,entertainment districts and Williams Brice football stadium.

OVERVIEW

This portfolio includes 46 separate downtown properties, ranging from single-family to small multi-family. There is a total of 244 Bedrooms and 140 Baths, all in very close proximity to the University of South Carolina campus. Occupancy has averaged 96.5% with steady YOY rent increases and is already 94.3% pre-leased for the 2025-2026 school year. Columbia, SC is home to the University of South Carolina. This top-tier school offers more than 350 bachelor’s, master’s and doctoral degrees including the #1 ranked Undergraduate and Master’s International Business programs in the US. The University offers major sports programs which compete in the highly competitive SEC Conference. The University can only provide on campus housing for approx 16,000 students of the approx 36,000 student population, leaving a yearly shortage of approx 20,000 students for downtown apartments, duplexes, quads, and single-family residences. Multi-story apartment buildings with elevators and parking garages have been built in recent years in an attempt to accommodate the demand for student housing…450 beds here, 650 there. However, the large, often inefficiently managed apartment buildings, have become hotbeds for parties and crime. Living off-campus in smaller single and multi-family properties have become increasingly more popular . Students can park close to their door (no parking garages), relax and entertain outdoors in the privacy of their own backyards, walk and bike throughout the historic neighborhoods and walk to restaurants and entertainment districts. Often, after a year of dorm-type life, sophomores, juniors, seniors and grad students recognize that a more enjoyable lifestyle can be found with independent off campus living, assuring longer term tenants and less annual turnover for owner/investors who offer single and small multi-family properties. Columbia is recognized as a very attractive market , particularly in the student housing sector. This portfolio of 244 bedrooms is currently at 100% occupancy (excluding 3 properties undergoing major renovations to be completed spring 2025), and as of 1/10/25 the entire portfolio is 94.3% pre-leased for the 2025-2026 school year. Investment Highlights All of the 46 properties/89 units are leased school year to school year and are not leased by the bedroom. Occupancy has averaged approx 96.5 % since ownership with steady YOY rent increases. The properties average 1 mi from campus. The current rent on a per bedroom average for this portfolio is $947 per month/ $11,366 per year; At list price the cost per bed is $115,779. The tenants pay for "all" utilities including water/sewer, electricity, gas, cable, internet, and garbage collection is provided by City of Columbia/Richland County and is included in the property taxes. Documents in the Financial info provides details for each of the 46 addresses as well as individual lease information, current property taxes and insurance. Photos of all properties are provided as well. This is an attractive opportunity for a buyer to take over ownership of these properties which are stabilized and offer a continued healthy increase on revenue and appreciation for many years to come.

FOR SALE DETAILS

PRICE

$28,250,000 USD

PRICE/SF

$250 USD /SF

CAP RATE

6.97%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

COLUMBIA SC 244 BED STUDENT HOUSING PORTFOLIO

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Residential Income

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

-

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

residential

APN/PARCEL ID

11304-05-01

ASK ABOUT THIS PROPERTY

Bill GrahamColdwell Banker RealtyMore Info
803-331-4586

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Bill GrahamColdwell Banker RealtyMore Info
803-331-4586

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