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2491 Russell St 8 Unit Apartment Building $629,000 ($78,625/Unit) 8% Cap Rate Orangeburg, SC 29115
Executive Summary
Offered at just $78,625 per unit and located close to SC State and Claflin Universities, this fully occupied 8-unit complex generates an impressive $73,560 in gross rent. The 5,652-sqft building underwent a major interior/exterior renovation just three years ago and the 0.87-acre lot offers additional land for further expansion. Includes seven 2BR/1BA units and one 1BR/1BA unit with ample parking. Orangeburg has seen substantial investment in community and infrastructure improvements, including a brand-new City Hall and Library/Conference Center on Russell Street, the new Orangeburg Wilkinson High School, and new county courthouse scheduled to break ground this year. SC State has experienced a 33% increase in enrollment over the past five years, creating a student housing shortage. This surge presents a strategic opportunity for investors to operate the property as dedicated student housing, where demand continues to outpace supply.
Property Facts
| Price | $629,000 | Apartment Style | Low-Rise |
| Price Per Unit | $78,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.86 AC |
| Cap Rate | 8% | Building Size | 5,650 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1974/2022 |
| Property Subtype | Apartment |
| Price | $629,000 |
| Price Per Unit | $78,625 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.86 AC |
| Building Size | 5,650 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1974/2022 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 7 | - | - |
1 1
Property Taxes
| Parcel Number | 0182-09-03-003.000 | Improvements Assessment | $16,303 |
| Land Assessment | $4,727 | Total Assessment | $21,030 |
Property Taxes
Parcel Number
0182-09-03-003.000
Land Assessment
$4,727
Improvements Assessment
$16,303
Total Assessment
$21,030
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