1602 McNeil St
Dillon, SC 29536
Sunflower Place Apartments · Multifamily Property For Sale · 76 Units

***SELLER MOTIVATED BY QUICK TRANSACTION*** Approximately: At a 9 cap on in-place income , this property brings a value of $2 million. There are several value add opportunities which will increase the value significantly! Revenue increased from $22k to $30k monthly since September and only at 77% occupancy. Tremendous revenue growth as occupancy improves. Tenant mix has greatly improved with lease-up occurring rapidly. Existing Rent increase still has 70% renewals to be realized. Lowest rents in market (even with existing rent increase)- large opportunity. Water can be converted to individual metering - $24k creates additional $30k in NOI plus in first year. RUBS program is available as well. 6 down units have been redone and ready to rent. Currently working to reduce trash fees included in property tax bill. Additional Information New Roofs, Windows, parking lot reseal, and many new appliances and hot water heaters. New/strong on-site staff in place and willing to transfer with the property. Previous deferred maintenance being brought current. Property & Market Overview Waterstone Multi-Family Group is pleased to present Sunflower Place Apartments; an 84 unit complex built in 1969 and located in Dillon, South Carolina. Dillon, located directly off I-95 between Lumberton NC & Florence, SC offers several manufacturing employers such as Purdue, Harbor Freight and Wyman-Gorman a division of Boeing which moved 400 jobs to Dillon in 2014/2015. The latest and largest economic victory for Dillon County is that it has been chosen as the site for the new SC Inland Port, which is expected to bring several thousand new jobs and attract new business to the area over the next several years. Sunflower Place Apartments is a family-oriented community which contains two playgrounds and offers a broad mix of spacious townhouse units (1-4 bedrooms). Within the last three years, this property has benefitted from several capital improvements including all new roofs, new windows, perimeter fence and a resealed parking lot.