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    2860 Banks Mill Road

    Aiken, SC 29803
    • $925,000
    • STATUS: Active
    • ON SITE: 27 days
    • MLS #: 462224
    UPDATED: 48 min ago
    $925,000
    • 0
      BEDS
    • 12.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,868
      SQFT
    • $58
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2003
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    Value-add multifamily investment opportunity. The subject property is a twelve unit apartment building with roughly 10.41 acres of land zoned and entitled for the development of 36 additional apartment units. The existing units all in good condition and share similar 1,120 SF floorplans with a 2 Bedroom/1.5 Bath configuration. All units are occupied as of the time this property being taken to market and are rented at various rates ranging from $600 to $700. Market rent is estimated to be $715 for similar units. Coupled together, the potential for increased rents and the development potential of the entitled land makes for an excellent value-add opportunity. Total NOI is $51,576. In total, the property is comprised of 12.3 acres. Since units are fully occupied, showings can only be arranged after a Letter of Intent has been submitted..

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    IDX information © 2020 Greater Augusta Association of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or Shannon Rollings Real Estate. Data last updated 2020-11-25T15:55:32.113.
    www.shannonr.com/homes/111427971
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    2860 Banks Mill Road Aiken, SC 29803

    • Price: $925,000
    • Status: Active
    • Updated: 48 min ago
    • MLS #: 462224
    0
    Beds
    0
    Baths
    0
    ½ Baths
    12.2
    Acres
    15,868
    SQFT
    $58
    $/SQFT
    2003
    Built
    Neighborhood:
    None-4Ai
    County:
    Aiken
    Area:
    Aiken
    Elementary School:
    Millbrook
    Middle School:
    Kennedy
    High School:
    South Aiken
    Property Description
    Value-add multifamily investment opportunity. The subject property is a twelve unit apartment building with roughly 10.41 acres of land zoned and entitled for the development of 36 additional apartment units. The existing units all in good condition and share similar 1,120 SF floorplans with a 2 Bedroom/1.5 Bath configuration. All units are occupied as of the time this property being taken to market and are rented at various rates ranging from $600 to $700. Market rent is estimated to be $715 for similar units. Coupled together, the potential for increased rents and the development potential of the entitled land makes for an excellent value-add opportunity. Total NOI is $51,576. In total, the property is comprised of 12.3 acres. Since units are fully occupied, showings can only be arranged after a Letter of Intent has been submitted..
    Exterior Features

    Exterior Finish Other Lot Size 12.2

    Interior Features

    Cooling Other-See Remarks Heat Delivery Other-See Remarks Unit Four Inclusions Other-See Remarks Unit One Inclusions Other-See Remarks Unit Three Inclusions Other-See Remarks Unit Two Inclusions Other-See Remarks

    Property Features

    Amenities Other-See Remarks Financing Other-See Remarks Gross Operating Income 97500.00 Listing Conditions Not Applicable Net Income 51576.00 New Construction No Owner Financing No Property Type 10+ Units Sewer Septic System Total Expenses 46195.00 Vacancy Percent 0

    Listing courtesy of Meybohm Real Estate-Wheeler Rd.


    IDX information © 2020 Greater Augusta Association of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed by the MLS or Shannon Rollings Real Estate. Data last updated 2020-11-25T15:55:32.113.
     
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