Allies Court Townhomes | 1401-1435 Allies Ct
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Allies Court Townhomes 1401-1435 Allies Ct
38 Unit Apartment Building $4,500,000 ($118,421/Unit) 6.39% Cap Rate Florence, SC 29506
Investment Highlights
- 38 unit townhome community in Florence, SC
- 42,028 building SF on over 200,000 SF of land
- Assumable financing available at 4.3% fixed for 7 years
- Single-story construction built from 2008-2012
- 100% 3bed + 2 bath units averaging 1,106 SF
- Significant upside potential in rental income
Executive Summary
The property consists of 38 spacious townhomes in Florence, South Carolina. Each building in the community is a duplex with high-end finishes, parking and a backyard. This quiet neighborhood boasts lush landscaping and a fishing pond at the end of the cul-de-sac.
The property is located within close proximity of Florence Regional Airport, two separate hospitals and many restaurant and shopping options in Downtown Florence. Florence is a rapidly growing city approximately 70 miles East of Columbia, SC. Within a 3-mile radius of the property, there is a population of 34,000 people, and the median household income is well above the national average.
The property is located within close proximity of Florence Regional Airport, two separate hospitals and many restaurant and shopping options in Downtown Florence. Florence is a rapidly growing city approximately 70 miles East of Columbia, SC. Within a 3-mile radius of the property, there is a population of 34,000 people, and the median household income is well above the national average.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$513,600
|
$12.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$25,680
|
$0.61
|
| Effective Gross Income |
$487,920
|
$11.61
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$186,570
|
$4.44
|
| Net Operating Income |
$301,350
|
$7.17
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $513,600 |
| Annual Per SF | $12.22 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $25,680 |
| Annual Per SF | $0.61 |
| Effective Gross Income | |
|---|---|
| Annual | $487,920 |
| Annual Per SF | $11.61 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $186,570 |
| Annual Per SF | $4.44 |
| Net Operating Income | |
|---|---|
| Annual | $301,350 |
| Annual Per SF | $7.17 |
Property Facts
| Price | $4,500,000 | Apartment Style | Garden |
| Price Per Unit | $118,421 | Building Class | B |
| Sale Type | Investment | Lot Size | 4.59 AC |
| Cap Rate | 6.39% | Building Size | 42,028 SF |
| Gross Rent Multiplier | 8.76 | Average Occupancy | 100% |
| No. Units | 38 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2008 |
| Property Subtype | Apartment |
| Price | $4,500,000 |
| Price Per Unit | $118,421 |
| Sale Type | Investment |
| Cap Rate | 6.39% |
| Gross Rent Multiplier | 8.76 |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.59 AC |
| Building Size | 42,028 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2008 |
Unit Amenities
- Tile Floors
- Kitchen
- Granite Countertops
- Tub/Shower
- Yard
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 38 | $1,126 | 1,100 |
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Allies Court Townhomes | 1401-1435 Allies Ct
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