DEALS

Deals

North Augusta Townhome Portfolio – North Augusta, SC

THE OPPORTUNITY

  • 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

THE HIGHLIGHTS

  • 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%

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