3608 Gail Dr - Palmetto Gardens 40 Unit Apartment Building Offered For Sale Florence, SC 29501

Aline Capital Presents, The Palmetto Gardens Apartments, located in the growing city of Florence, South Carolina. 3607 Gail Dr offers a prime investment opportunity for value-add multifamily buyers seeking to capitalize on the region’s growing rental market. This multi-family property presents significant upside potential through interior renovations and management. Current ownership has continually maintained and improved the interior and exterior of the property with extensive cap ex including roofs and more.
New ownership can immediately focus on improving NOI by completing the property-proven interior value-add and implementing substantial rent increases on the next generation of leases. Favorable fundamentals in the Florence market have resulted in B & C Class rents surpassing growth yearover-year, while vacancy rates remain well below the national average.
Strategic Location: Situated in a desirable neighborhood with convenient access to major highways, shopping centers, schools, and recreational facilities. Close proximity to thousands of jobs, including new AESC battery manufacturing, bringing over 1,000 new jobs to the area. Florence is known for its economic stability and growth, making it an attractive destination.
Strong Rental Demand: Florence’s rental market remains robust with consistent demand from both local and relocating residents. Proximity to employment hubs, educational institutions, and healthcare facilities ensures a steady pool of potential tenants.
Property Features: The property offers all two-bed, two-bath Duplexes. Ample parking space, well-maintained common areas, and attractive landscaping enhance overall appeal.
Financial Upside: Opportunity for favorable financing terms given the property’s strong fundamentals and potential for improved cash flow. Rents are on average $150+ below market rate, providing a clear value-add program for financial upside.