Business Overview:
This 6.59 acre parcel of investment property is well maintained. It is part of a larger parcel, that would be resurveyed. Excellent opportunity for income since 43% of Bennettsville's citizens are renters.Please do not disturb the tenants. It includes 4 apartment buildings, Oakwood Village Apartments, consisting of 21 apartments and 6 houses. Square Footage ranges from 650- 924 square feet. 25 out of 27 units are rented. Addresses are 1583-1617 Hickory Grove Road. The rents range from $300 to $350 per month 2-3 bedroom. All new leases are 1 year, and then they go month to month. Only 1 government subsidized rent. Age of buildings are 1986 to early 2000. 5 out of 6 Houses are brick. 3 Apartment Buildings are brick and the 2 story is brick with Masonite on 2nd story. Approximate yearly revenues are $ 98,220. Yearly Expenses are approximately $18,154. Those expenses include taxes, insurance, water, outside lighting, waste management, repairs, maintenance, and lawn care. New owner could do some of their own maintenance and add to the bottom line. Current owner manages, so there are no property management expenses included. Nice quiet country setting. Located in Marlboro County, SC. Exactly 80 miles SE from I-485 in Charlotte, NC. Take Highway 74 to Highway 52 to Highway 38 crossing into SC. Just 3 miles from Highway 9. Proposed New 73 Corridor along Highway 38 in the future, leading from Detroit, MI, to Myrtle Beach, SC. Low taxes in Marlboro County. For more details, please contact Tonya @ 704-550-4428. Local broker is available to show the property.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
All 6 houses are brick and range in size from 650 to 924 sq ft.. Three apartment buildings are brick and 4th one has brick on first floor with Masonite on the second. The units are 2- and 3-bedrooms. There's a total of 14,000 sq ft with 95% occupancy.
Market Competition and Expansion:
This is a good market for this property since 43% of Bennettsville's population are renters.
Reason for Selling:
investment opportunity
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
Resources: