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Hemingway Apartments 1200 Hemingway Chapel Rd 30 Unit Apartment Building $4,500,000 ($150,000/Unit) 7.27% Cap Rate Conway, SC 29527
INVESTMENT HIGHLIGHTS
- Modern Construction Advantage: Newly built in 2022, offering updated infrastructure and a fresh living environment.
- Educational Hub: Close to Coastal Carolina University and Horry-Georgetown Technical College, attracting a diverse tenant base.
- Thoughtful Layout Design: Well-planned apartments enhance functionality and appeal for residents.
- Convenient Coastal Access: Proximity to Myrtle Beach provides residents with easy access to beaches and entertainment.
- Investor Growth Potential: Positioned in a dynamic area with rising demand, offering opportunities for long-term value.
- Vibrant Regional Appeal: Benefits from the growing popularity of the Conway and Myrtle Beach area.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present Hemingway Apartments, a distinguished 30-unit multifamily property located in Conway, South Carolina. Built in 2022, this modern community seamlessly blends contemporary design with the vibrant coastal lifestyle. Featuring exclusively two-bedroom, one-bathroom apartments, the property offers residents a comfortable living experience with a focus on practical amenities and a welcoming atmosphere. Its strategic location provides convenient access to nearby educational institutions such as Coastal Carolina University and Horry-Georgetown Technical College, as well as the charming downtown Conway area, making it an ideal choice for a diverse range of renters.
Hemingway Apartments benefits from its prime location, just a short drive from the bustling attractions of Myrtle Beach, including pristine beaches and a variety of entertainment options. The property’s thoughtful design and proximity to key amenities enhance its appeal, offering a serene yet connected living environment. With its recent construction and elegant appeal, Hemingway Apartments stands as a promising opportunity for investors looking to capitalize on the growing demand in this dynamic region, supported by the area’s increasing popularity and coastal charm.
Hemingway Apartments benefits from its prime location, just a short drive from the bustling attractions of Myrtle Beach, including pristine beaches and a variety of entertainment options. The property’s thoughtful design and proximity to key amenities enhance its appeal, offering a serene yet connected living environment. With its recent construction and elegant appeal, Hemingway Apartments stands as a promising opportunity for investors looking to capitalize on the growing demand in this dynamic region, supported by the area’s increasing popularity and coastal charm.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $4,500,000 | Building Class | C |
| Price Per Unit | $150,000 | Lot Size | 2.07 AC |
| Sale Type | Investment | Building Size | 27,582 SF |
| Cap Rate | 7.27% | Average Occupancy | 100% |
| No. Units | 30 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2022 |
| Property Subtype | Apartment | Parking Ratio | 1.88/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $4,500,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| Cap Rate | 7.27% |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.07 AC |
| Building Size | 27,582 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2022 |
| Parking Ratio | 1.88/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 30 | - | 550 |
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PROPERTY TAXES
| Parcel Number | 36912010005 | Improvements Assessment | $84,267 |
| Land Assessment | $22,688 | Total Assessment | $106,955 |
PROPERTY TAXES
Parcel Number
36912010005
Land Assessment
$22,688
Improvements Assessment
$84,267
Total Assessment
$106,955
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Hemingway Apartments | 1200 Hemingway Chapel Rd
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