Multifamily Property for Sale in Columbia, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Columbia, SC 29205

Description

Marcus & Millichap is pleased to present for sale 1308 Maple Street, a triplex located in the highly desirable Melrose Heights neighborhood of downtown Columbia, South Carolina. Situated on approximately 0.40 acres, the property consists of three units totaling eight bedrooms, currently leasing at $1,000 per bed, offering strong in-place income within a proven student housing submarket. The property is located less than two miles from the University of South Carolina, providing direct access to one of the Southeast’s largest and most stable student housing demand drivers. Known for its tree-lined streets, walkability, and proximity to downtown Columbia’s shopping, dining, and entertainment options, Melrose Heights is a preferred residential pocket for students and young professionals alike. Each unit has undergone interior renovations, with two units fully renovated within the last 18 months. Upgrades include modernized kitchens and bathrooms, enhancing tenant appeal and supporting competitive rental rates. Exterior improvements further appeal to the student renters, including a basketball court, wood deck, and a covered backyard entertainment area. 1308 Maple is well positioned to capitalize on the continued growth and strong demand fundamentals of the University of South Carolina student housing market. Investment Highlights: • A Triplex in the Desirable Melrose Heights Neighborhood • Three Units | Eight Beds Leasing at $1,000 Per Bed • Less Than Two Miles from the University of South Carolina • Interior Renovations Completed, Including Two Fully Renovated Units • Upgraded Kitchens, Bathrooms, and Exterior Amenities • Located on Approximately 0.40 Acres in Downtown Columbia

Market Context

This multifamily in Columbia, SC is listed for sale. It is offered at an approximate 7.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Columbia, SC — <a href="/search/sale/multifamily/south-carolina/columbia">view the full market</a>.

As of Q4 2019, the Columbia multifamily market showed a 5.0% vacancy rate, and rents up 7.8% year over year. Source: Cushman & Wakefield Q4 2019 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the Columbia multifamily market tightening or softening?
Vacancy is around 5.0%, with asking rents rising year over year (Q4 2019).

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