Cedar Creek Village Apartments

2860 Banks Mill Road Aiken, SC 29803

2860 Banks Mill Road, Aiken, SC, 29803
2860 Banks Mill Road, Aiken, SC, 29803
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$925,000
Last Verified:
Oct 31, 2020

Highlights

  • Zoned and Entitled
  • County Water/Septic Tanks

Description

Meybohm Commercial is pleased to present this 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 (48 total) 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 Annualized T9 NOI is $51,576, Pro forma is 48,444.82. In total, the property is comprised of 12.3 acres.

Located off of Banks Mill Rd. in Aiken, SC, six miles southeast of downtown, and seven minutes from Aiken Mall.


Year Built: 2006
Building Size: 13440.0sq ft
Lot Size: 12.34 acres

Map of 2860 Banks Mill Road, Aiken, SC, 29803

Presented by:
Thumb_501488e8f2

Request additional information
Icon_b159a155c7


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.