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Details: Multifamily

Asking Price: $2,200,000

Square Feet: 15,516 SF

Asking Cap Rate: 6.53%

Year Built: 1954

Year Renovated: 2023

NOI: $143,712

Cedar Pines Apartments

400 Verdery Drive, Belvedere, SC

  • 28 units in North Augusta, SC (Augusta MSA)
  • This is a well-maintained property that was recently renovated
  • Cedar Pines is located less than 3 miles from downtown North Augusta and SRP Park
  • The interiors have open living spaces with lots of natural light
  • The units have a mix of carpet and finished hardwood floors throughout the units, with tile in the kitchen and bathroom
  • The kitchen has a pantry, breakfast bar and updated appliances
  • 7 of the 8 buildings have new roofs
  • The parking lot was repaved in 2023
  • The property is zoned for North Augusta High School, which is ranked 7 out of 27 for public schools in the Augusta area
  • Opportunity to add individual laundry rooms or common room area laundry
  • Maintenance room could be converted to additional unit or laundry room

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