Multifamily Student Rental Columbia SC | 402 S Saluda Ave
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Multifamily Student Rental Columbia SC 402 S Saluda Ave
4 Unit Apartment Building $1,600,000 ($400,000/Unit) 6.26% Cap Rate Columbia, SC 29205
Investment Highlights
- All new construction just completed 4 months ago. 100% leased til July 2026 with $239,000 remaining on leases. Ideal student living location
Executive Summary
All four townhomes are 100% leased through July 2026 with $239,000 total rent remaining on current leases. $10,400 per month through July 2025 and $12,135 per month through July 2026-Please see rent roll. Four new townhome style units, 3 bedrooms and each with its own private bath (a total of 12 bedrooms and 12 full baths).Each townhome is separately metered for public water/sewer, electricity- tenants pay all utilities. This property was custom built/completed August 2024 and was professionally designed and decorated. The townhomes have high end finishes with stained concrete floors, granite countertops , Samsung appliance packages including individual washer/dryers in each unit, large walk-in closets, tankless hot water heaters,40 year architectural shingles ,Silverline energy efficient windows, with hardy plank exterior.
Data Room Click Here to Access
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$124,800
|
$25.37
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$124,800
|
$25.37
|
| Taxes |
$3,600
|
$0.73
|
| Operating Expenses |
$21,064
|
$4.28
|
| Total Expenses |
$24,664
|
$5.01
|
| Net Operating Income |
$100,136
|
$20.35
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $124,800 |
| Annual Per SF | $25.37 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $124,800 |
| Annual Per SF | $25.37 |
| Taxes | |
|---|---|
| Annual | $3,600 |
| Annual Per SF | $0.73 |
| Operating Expenses | |
|---|---|
| Annual | $21,064 |
| Annual Per SF | $4.28 |
| Total Expenses | |
|---|---|
| Annual | $24,664 |
| Annual Per SF | $5.01 |
| Net Operating Income | |
|---|---|
| Annual | $100,136 |
| Annual Per SF | $20.35 |
Property Facts
| Price | $1,600,000 | Building Class | B |
| Price Per Unit | $400,000 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 4,920 SF |
| Cap Rate | 6.26% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 1.63/1,000 SF |
| Apartment Style | Townhome |
| Price | $1,600,000 |
| Price Per Unit | $400,000 |
| Sale Type | Investment |
| Cap Rate | 6.26% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.26 AC |
| Building Size | 4,920 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2024 |
| Parking Ratio | 1.63/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Ice Maker
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Yard
- Den
- Double Pane Windows
- Instant Hot Water
- Island Kitchen
- Smoke Free
- Window Coverings
Site Amenities
- Smoke Free
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3 | 4 | - | - |
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PROPERTY TAXES
| Parcel Number | 11309-14-01 | Total Assessment | $67,700 (2023) |
| Land Assessment | $0 (2023) | Annual Taxes | $3,600 ($0.73/SF) |
| Improvements Assessment | $0 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
11309-14-01
Land Assessment
$0 (2023)
Improvements Assessment
$0 (2023)
Total Assessment
$67,700 (2023)
Annual Taxes
$3,600 ($0.73/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | multifamily (Property is zoned for up to four dwelling units) |
| multifamily (Property is zoned for up to four dwelling units) |
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Multifamily Student Rental Columbia SC | 402 S Saluda Ave
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