1155 Clemson Frontage Rd | Columbia, SC 29229
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- LoopNet Team
1155 Clemson Frontage Rd
Columbia, SC 29229
Palmera Apartments
· Multifamily Property For Sale
·
240 Units
INVESTMENT HIGHLIGHTS
- Meticulously maintained 240 unit, 2008 construction complex offered below replacement cost in the fast-growing Wildwood submarket of NE Columbia
- With only 2 owners since construction, the property is a blank canvas for a value-add investor, with all original fixtures and finishes in all units
- Current ownership is a non-profit foundation and is not currently taxed. Certain household limits apply to a percentage of current residents
- Day one opportunity to raise rents on average $150/unit without any systematic upgrades to bring property in-line with the market.
- Affluent submarket with a new Publix Shopping Center being constructed less than a mile away and the average area median income of $100,000+.
PROPERTY FACTS
| No. Units | 240 | Building Size | 299,353 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 2008 |
| Building Class | B | Parking Ratio | 1.82/1,000 SF |
| Lot Size | 14.64 AC | ||
| Zoning | GC - Commercial commercial | ||
| No. Units | 240 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 14.64 AC |
| Building Size | 299,353 SF |
| Average Occupancy | 93% |
| No. Stories | 3 |
| Year Built | 2008 |
| Parking Ratio | 1.82/1,000 SF |
| Zoning | GC - Commercial commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Security System
- Ceiling Fans
- Ice Maker
- Refrigerator
- Oven
- Tub/Shower
- Sunroom
- Wi-Fi
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Business Center
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Pool
- Breakfast/Coffee Concierge
- Car Wash Area
- Grill
- Laundry Service
- Media Center/Movie Theatre
- Volleyball Court
- Wi-Fi
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 60 | - | 756 - 856 |
| 2+2 | 120 | - | 1,023 - 1,170 |
| 3+2 | 60 | - | 1,249 - 1,317 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $17,795,700 | |
| Land Assessment | $1,242,000 | Total Assessment | $19,037,700 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,242,000
Improvements Assessment
$17,795,700
Total Assessment
$19,037,700
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