Apartment Complex For Sale in Summerville, SC





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Published on Jan 20, 2011

520 Rose Lane, Summerville, SC 29483: Rose Lane is located one block from the major thoroughfare, Trolley Road in Summerville, South Carolina. Trolley Rd is a high growth retail/office/subdivision corridor and provides easy access to other high traffic arteries. Adjacent to this 16-unit (individually tax deeded townhouses) community is a childcare center, a residential neighborhood and separated by a wooden fence, and a brand new auto center. Gas station mart, brand new restaurant, laundromat, public library and anchored shopping center are all within walking distance.

The property consists of 3 buildings, two-stories each and contains 16 townhouses, each with 2 bedrooms and 1 bath. The buildings are masonry, brick veneer on concrete slabs. Built in 1973, total square footage is 15,148. Floor plans are all similar with bedrooms and bath on 2nd floor, and a kitchen and living room on 1st floor, with a square footage of 928. Each kitchen has a stove and fridge, bathtubs are tile enclosures. Units are heated/cooled by heat pumps.

Gross Operating Income: $107,520
Less 10% Vacancy: $10,752
Effective GOI: $96,768
Less Operating Exps: $42,180
Net Operating Income: $54,588

Priced at $449,000; Cap Rate of 10+%

Contact Jonathan Lee, Commercial & Investment Real Estate Broker, 843-991-4848 or send a request for Marketing Brochure to: JonathanLee@ChoiceRealtyUSA.com

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