- This is a townhome portfolio in North Augusta, SC, that consist of three separate properties.
- Additionally, there is an opportunity to develop 42 units at the Summerhill location. The Summerhill location has stunning views that overlook North Augusta and downtown Augusta
- Stunning 25 mile plus views that overlook downtown Augusta
- Summerhill is primed to develop an additional 42 units, allowing investors to boost NOI by over $500,000 a year
- The townhomes have shown tremendous organic rent growth in recent months. Even without a development play, investors can expect this trend to continue as most of the units have been upgraded in the past two years.
- Renovated over the past two years, these townhomes offer investors the opportunity to invest a high-quality asset far below replacement cost.
- Recent leases at Summerhill have been signed at $1,440, which $75-$100 more than most of the current rents
THE DEAL POINTS
- NOI: $537,894
- Avg Current Rent: $1,238
- Acreage: 5.16
- Square Footage: 55,948
- Units: 54
- Buildings: 15
- Occupancy: 100%