Property Description
National Multifamily is pleased to present a 353-unit multifamily portfolio located in the inland section of Northeast South Carolina. The collection of properties offers investors a unique opportunity to invest in scale in a growing market in the Southeast. The sale can be accompanied by both below market assumable and seller financing to allow investors a pathway to complete a value-add strategy across the portfolio to increase the portfolios value, cash flow, and stability. The portfolio offers a compelling proposition for investors looking to enhance and safeguard their real estate portfolio through a purchase in landlord friendly South Carolina.
Located across nine sites, the portfolio is concentrated in the cities of Bennettsville (117 units), Dillon (164 units), and Marion (72 units). Proximity to major highways offers excellent connectivity to regional economic hubs and the major cities of the Southeast.
The portfolio allows for instant scalability of operations and the option to use an already built-out in-house management and maintenance team. The owner, who lives out of state, built out the team as they purchased the portfolio in stages. The majority of rents are currently below market and significantly below voucher levels for each city. A simple value-add strategy and management efficiencies would instantly increase cash flow over the current levels.
There are three assumable 10-year interest only, fixed agency loans ranging from interest rates of 4.03% to 5.01% that are available across the portfolio. In addition to the assumable agency financing, the owner will also consider seller financing if the purchasing party is interested.
