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$849,000
Est. payment /mo
4,800 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment Complex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 20473.2
Square Footage 4,800 sqft
Price per Sqft $176
Subdivision City
MLS Listing ID 20254705
Year Built 1936
Lot Size 0.470 Acres
Property Sub-Type Apartment Complex
Property Description
NOI just increased another $6000 with rent increases, now offered at over a 10% Cap Rate. Lakeshore Arms Apartments is a well-maintained, income-producing multifamily property consisting of one building with 8 fully furnished and equipped 1-bedroom/1-bath units. The sale includes all FF&E and personal property necessary for a true turnkey short-term or flexible-term rental operation, including appliances, beds, flat-screen TVs, furnishings, linens, décor, kitchenware, and smallwares. This proven revenue producer generates over $134,000 in gross annual income. Additional financial and operational details available upon request. The property offers room to increase rents by an estimated 20-30%. This investment is ideal for both new and seasoned investors and a great way to get into the lucrative short-term rental investment business. Owner is a licensed real estate agent. The property has historically attracted a strong, diverse, and repeat tenant base. Lakeshore Arms is located in a quiet, highly coveted Prestwood neighborhood, directly across from Prestwood Lake, adjacent to a well-recognized Montessori school, and just 2 minutes drive from Hartsville's thriving downtown with restaurants and shopping. With very limited short-term rental inventory in Hartsville where most rentals are unfurnished and leased on one-year terms, this furnished, flexible-term property is uniquely positioned to capture unmet demand and deliver strong, reliable income. ****UPDATE****: New rents are at $1550 and $1700. Plug $1650 into your Proformas.
Location
State SC
County Darlington
Community Cable T.V.
Area Hartsville
Interior
Heating Central
Cooling Central Air
Flooring Vinyl, Parquet, Tile
Fireplace No
Exterior
Parking Features Off Street
Community Features Cable T.V.
Roof Type Composite Shingle
Garage No
Building
Story 2
Sewer Public Sewer
Water Public
Schools
Elementary Schools Carolina
Middle Schools Hartsville
High Schools Hartsville
School District Hartsville
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Listed by: Choice Realty, Inc. • Jonathan C Lee
Nearby Locations
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