Cambridge Court Apartments | 211 Dickson St
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Cambridge Court Apartments 211 Dickson St
60 Unit Block of Flats £2,937,375 (£48,956/Unit) Manning, SC 29102
Investment Highlights
- Opportunity to acquire a well maintained and quaint property within easy access to I-95 and US Routes 301 and 521
- Cambridge Court is well positioned within the community, just moments away from the tree-lined Brooks Street, the Main street of Manning
- Upside in rents exist without a heavy capital improvement plan, with inplace rents on average around $213/unit below market comparables
- The smaller community of Manning, SC offers a slower pace of life, but is also equidistance from both the state’s capital of Columbia and the coast
Executive Summary
• Opportunity to increase rents to market rate after finishing renovations, rent comparable in the market reveal market rents are roughly $213/unit higher than in place avg rents
• Additional operational upside through reducing expense load, there is significant payroll costs associated with 60 units where we think 3rd party management would be effective
• Extremely convenient to Downtown Manning, roughly half a mile and only 6 miles to Clarendon County Industrial Park
• Additional operational upside through reducing expense load, there is significant payroll costs associated with 60 units where we think 3rd party management would be effective
• Extremely convenient to Downtown Manning, roughly half a mile and only 6 miles to Clarendon County Industrial Park
Property Facts
| Price | £2,937,375 | Building Class | B |
| Price Per Unit | £48,956 | Lot Size | 4.00 AC |
| Sale Type | Investment | Building Size | 66,922 SF |
| No. Units | 60 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1974 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden |
| Price | £2,937,375 |
| Price Per Unit | £48,956 |
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.00 AC |
| Building Size | 66,922 SF |
| Number of Floors | 2 |
| Year Built | 1974 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 672 |
| 2+1 | 40 | - | 858 |
| 3+1 | 8 | - | 962 |
| 4+1.5 | 4 | - | 1,120 |
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PROPERTY TAXES
| Parcel Number | 187-01-05-013-00 | Improvements Assessment | £43,779 |
| Land Assessment | £3,525 | Total Assessment | £47,303 |
PROPERTY TAXES
Parcel Number
187-01-05-013-00
Land Assessment
£3,525
Improvements Assessment
£43,779
Total Assessment
£47,303
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Cambridge Court Apartments | 211 Dickson St
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