Multifamily Property for Sale in Columbia, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Columbia, SC 29209

Description

Marcus & Millichap is pleased to present Cedar Crossing Apartments, a 16-unit multifamily community located in Columbia, South Carolina. Built in 1984, the property sits on 1.29 acres approximately 10 minutes from Downtown Columbia, offering convenient access to major employment centers and retail corridors. The community is comprised entirely of two-bedroom, two-bathroom residences, each featuring washer/dryer hookups and individually metered utilities, allowing for efficient operations and reduced operating costs. Cedar Crossing benefits from strong nearby retail options, located within two miles of Target, Whole Foods, Walmart, and a wide array of shopping and dining options. With a desirable 2BD/2BA unit mix, recent capital improvements, and proximity to daily-needs retail, the property is well positioned to capture consistent workforce housing demand in the growing Columbia market. Investment Highlights: • Unit Mix Comprised of 16 Two-Bedroom/Two-Bathroom Units with Washer and Dryer Hookups • Each Unit Is Individually Metered for Water and Electric, Reducing Operating Costs • Convenient Location Near Essential Daily Retail, Major Employers and I-77 • Recently Renovated Interiors and New Roofing

Market Context

This multifamily in Columbia, SC is listed for sale. It is offered at an approximate 5.5% 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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