120 Sandy Springs Lane

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Address: 120 Sandy Springs Lane, Lexington, South Carolina, US
Created date: March 23, 2024
Date last updated: March 24, 2024
  • Lexington is now considered an exploding area in the Columbia MSA and serves as an extension of the SC state capital, Columbia. Within a two-mile radius of a Walmart Super Center and Lowe's Home Improvement Center. Walgreen's, Dollar General, Starbucks, Publix, Food Lion, High School, and Middle School are also within several miles.
  • Columbia, SC MSA / Lexington County / 38 Mobile Home Units In a Two-Park Adjacent Portfolio
  • Estimated $252,00 NOI equating to $21,000+ per month during a rent push. 6.63% Cap Rate. NOI has been as high as $27,000 per month but taking into consideration some Capex, so estimating low. Rent Comps in the area will allow going much higher as seen in the CoStar Analytics.
  • Video Tour https://drive.google.com/drive/u/4/folders/158Tjux5g5s6sIrzzl3-UIf4W2wYJ6x_W
  • ESSENTIAL CREOP FLIPBOOK: https://www.flipsnack.com/A5A986CC5A8/gilbert-2/full-view.html

Property Description

MORE NEW DATA CALL OR EMAIL (843) 532-1641 OR [email protected]. Estimated $252,00++ NOI equating to $21,000+ per month during an ongoing rent push. **THIS HAS CHANGED AND NOW A PUSH TO $1,000 PER MONTH PER UNIT STARTED WITH NEW LEASES. EXPONENTIALLY GOING ABOVE $30K PER MONTH GROSS WITH SOME CAPEX PRIOR TO NEW TENANTS OR RENT BUMPS TO $1,000 PER MONTH BEING IMPLEMENTED.** MORE DETAILED DOCUMENTATION CAN BE PROVIDED WITH REQUIRED PROOF OF FUNDS TO PROCEED. MEAT ON THE BONE BEFORE TOTAL PIVOT AND PRICE INCREASE. SELLER FINANCING MAY BE CONSIDERED W/ HALF DOWN, POFs, AND ACCELERATION CLAUSE W/ PERSONAL GUARANTEE TO PAY FULL BALANCE. 6.63%+ Cap Rate. NOI has been as high as $27,000 per month but taking into consideration some Capex, so estimating low based on rental turnover, upfit, and then rent increases to new tenants at inception and phase in on older. Rent Comps substantiated by CoStar Analytics in the area will allow going much higher. Stabilized June 2023 with most Capex completed yielding higher NOI. The caveat is any asset can have fluctuations, but this is a snapshot. Columbia, SC MSA / Lexington County / 38 Mobile Home Units In a Two-Park Adjacent Portfolio. Less than 2 miles from a Walmart Super Center and Lowe's Home Improvement Center. Walgreens, Dollar General, Starbucks, Publix, Food Lion, High School, and Middle School are also within several miles. Lexington is a rapid expansion zone for the Columbia MSA for rooftops, commercial, and industry. Correspondingly this combination of assets will maintain occupancy and vibrancy long-term based on the pattern analysis of past performance and future projections. Video Tour https://drive.google.com/drive/u/4/folders/158Tjux5g5s6sIrzzl3-UIf4W2wYJ6x_W CREOP Flipbook https://www.flipsnack.com/A5A986CC5A8/gilbert-2/full-view.html Correspondingly this combination of assets will maintain occupancy and vibrancy long-term based on the pattern analysis of past performance and future projections. According to the U.S. Census Bureau, the Columbia, SC, Metropolitan Statistical Area has a population of 837,092, considered the second largest in South Carolina. Lexington is now considered the fasting growing area in the Columbia MSA and serves as a suburb of the SC state capital, Columbia. Two significant population draws to Columbia include the University of South Carolina, which has a student population of 34,000, and Fort Jackson military base, home to 3,500 active-duty soldiers and their 12,000 family members. Very Relevant & Informative CREOP Flipbook https://www.flipsnack.com/A5A986CC5A8/gilbert-2/full-view.html VIDEO TOUR - https://drive.google.com/drive/u/4/folders/158Tjux5g5s6sIrzzl3-UIf4W2wYJ6x_W I WILL PRESENT ANY AND ALL OFFERS. PROOF OF FUNDS TO DO A DEAL REQUIRED AND REQUESTED UPFRONT. RENT ROLL AVAILABLE SIGN THE CA AND IT IS AVAILABLE AS A CURRENT SNAPSHOT. DO NOT CONTACT TENANTS OR MANAGEMENT WITHOUT EXPRESS PERMISSION FOR THE SAME.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Multifamily type: Apartments
Price: $3,800,000
No. of Units: 38
Year Built: 1968
Lot Size: 9.65 Sq ft
Opportunity Zone: No
Price per unit: $100,000
Property Website Click Here
Address: 120 Sandy Springs Lane, Lexington, SC 29073, USA
Provided by:

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