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(31 Units) 106 Growden Ln, Ladson, SC 29456, USA - Available Opportunity

Commercial Real Estate: Multi-Family


$8,000,000


Real Estate Investment Opportunity Overview

The Haven Townhomes presents a unique and compelling investment opportunity to acquire a Class A Townhome Portfolio located in the heart of Ladson, SC. With its close proximity to Downtown Charleston, the property benefits from the region's economic growth, diverse tenant base, and robust rental market. Offering a blend of luxury, convenience, and financial returns, The Haven Townhomes is an asset that stands out in the multi-family sector.


PROPERTY OVERVIEW

  • Address: 106 Growden Ln, Ladson, SC 29456

  • Total Units: 31

  • Occupancy: 93.5%

  • Average Rent: $1,829/Month

  • Market Rent: $1,929/Month

  • Lease Term: Minimum 1 year

  • Property Grade: A

  • Amenities: Each unit features a garage.


FINANCIAL OVERVIEW

  • Annual Rent Roll: $643,332

  • Annual Expenses: $141,533

  • Net Operating Income: $501,799

  • Sale Price: $8,000,000

  • Cap Rate: 6.27%


PROPERTY HIGHLIGHTS:

  • Premier Location: Situated just 30 minutes from Downtown Charleston, the property allows residents to enjoy the tranquility of Ladson while being in close proximity to the bustling city life of Charleston.

  • High Occupancy: With a 93.5% occupancy rate, the property consistently demonstrates strong demand and tenant retention.

  • Robust Financial Performance: With an annual rent roll of $643,332 and manageable expenses of $141,533, the asset showcases a healthy net operating income.

  • Modern Amenities: Each townhome is equipped with a garage, ensuring an added level of convenience and luxury for residents.

  • No Immediate Capital Expenditure Required: Being a Class A property, The Haven Townhomes is in excellent condition with no renovations needed.


MARKET & INDUSTRY INSIGHTS

The multi-family sector has consistently been a resilient and robust segment of the real estate industry, thanks to its stable cash flows and potential for appreciation. Several factors make The Haven Townhomes an appealing investment:

  1. Rising Demand for Rental Properties: With shifting demographics and the increasing cost of homeownership, there's a growing demand for high-quality rental properties. The Haven's high occupancy rate is a testament to this trend.

  2. Economic Growth in Charleston: Charleston's economy has been on an upward trajectory, bringing in job opportunities and contributing to the demand for housing in adjacent areas like Ladson.

  3. Limited Supply of Class A Properties: Quality assets like The Haven Townhomes are rare in the market, especially those that require no immediate capital expenditure.

  4. Strong Rental Growth Potential: With the current average rent being slightly below the market rate, there's room for rental growth, further boosting the property's income potential.

  5. Stable Cash Flows: Multi-family properties, especially those with high occupancy rates, ensure stable monthly cash flows for investors.



SELLER FINANCING:

Seller financing may be available. Interested investors should submit their terms for consideration. It's noteworthy to mention that the property is free from any existing debt, providing flexibility in financing terms.


TERMS OF SALE:

  • Non-Binding LOI/PSA: Required for all offers.

  • Proof of Funds (POF): Necessary for all offers, tours, and to receive updated financials.



Financial Highlights (Oct 2022 - Sep 2023):


IIncome Metrics:

  • Annual Gross Potential Rent: $720,437.66

  • Total Rental Income (after deductions): $632,683.25

Diverse Income Streams:

  • Key contributors include Application Fees, Late Fees, and Termination Fees among others.

  • Total Other Income: $43,054.19

Expense Breakdown:

  • Administrative Expenses: Major costs in this category include Bad Debt/Write-Offs, Legal and Accounting Fees, and Office Supplies, totaling $36,720.50.

  • Marketing Expenses: The primary marketing expenditure is on Internet Advertising, with the total marketing expenses amounting to $11,571.18.

  • Repairs and Maintenance: This category sees significant costs in areas like Water-Sewer, Electric - Vacant Units, and Repairs - Materials. The total for repairs and maintenance stands at $10,755.88.

  • Utilities: The main utility costs are associated with Water and Sewer, and Electricity, with the total utility expenses summing up to $78,360.11.

Property Highlights: Nestled in a prime location, The Haven presents a promising investment opportunity. The property boasts steady rental income, diverse supplementary income streams, and well-documented expenses. The detailed financials underscore consistent performance, making The Haven a top pick for astute investors.



Click For Income Statement


Click For View Rent Rolls




A&R Development & Acquisitions

Eric Brinson, Realtor & General Contractor

Mobile: 615-987-7897

ericb@andersonandryan.com

www.andersonandryan.com


*Note* You DO NOT have permission to market this property in anyway to anyone on any social media platforms, email, or direct to someone you know. You DO NOT have permission to mark up the property for your profit. If you know someone who may want to invest with us on this property contact ericb@andersonandryan.com directly to discuss. This is an off market investment opportunity.




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