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Colonial Garden Apartments 191-199 Charter Dr 24 Unit Apartment Building For Sale Longs, SC 29568
Investment Highlights
- New construction delivered in 2023 offers modern finishes and minimal near-term capital expenditure requirements.
- Located in Longs, SC with close proximity to Myrtle Beach, a major employment and tourism hub.
- Suburban location offers relative affordability compared to coastal markets while maintaining accessibility.
- All two-bedroom unit mix provides an efficient and highly desirable layout for workforce housing demand.
- Positioned within the growing Grand Strand region benefiting from strong population and economic trends.
- Turnkey investment opportunity with stable in-place operations and consistent rental demand.
Executive Summary
Marcus & Millichap is pleased to present Colonial Garden Apartments, a newly constructed 24-unit multifamily community located in Longs, South Carolina. Built in 2023 and situated on approximately 0.89 acres, the property consists exclusively of spacious two-bedroom units, offering a highly desirable and efficient unit mix tailored to workforce housing demand. As a recently delivered asset, Colonial Garden Apartments provides investors with a true turnkey opportunity featuring modern construction, minimal deferred maintenance, and strong in-place fundamentals, positioning the asset for stable cash flow and reduced capital expenditure requirements over the near and long term.
Colonial Garden Apartments benefits from its strategic location within the rapidly expanding Grand Strand region, just a short drive from Myrtle Beach, one of the Southeast’s premier coastal destinations. The Myrtle Beach metropolitan area continues to experience steady population and employment growth, supported by a diverse economic base anchored by tourism, healthcare, retail, and service industries. Longs has emerged as an attractive residential alternative due to its relative affordability and proximity to the coast, offering residents convenient access to employment centers, retail amenities, and lifestyle drivers while maintaining a suburban environment. Continued in-migration and home price appreciation across the region further reinforce rental demand, creating a favorable backdrop for sustained occupancy and rental growth.
Colonial Garden Apartments benefits from its strategic location within the rapidly expanding Grand Strand region, just a short drive from Myrtle Beach, one of the Southeast’s premier coastal destinations. The Myrtle Beach metropolitan area continues to experience steady population and employment growth, supported by a diverse economic base anchored by tourism, healthcare, retail, and service industries. Longs has emerged as an attractive residential alternative due to its relative affordability and proximity to the coast, offering residents convenient access to employment centers, retail amenities, and lifestyle drivers while maintaining a suburban environment. Continued in-migration and home price appreciation across the region further reinforce rental demand, creating a favorable backdrop for sustained occupancy and rental growth.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Sale Type | Investment | Building Class | B |
| No. Units | 24 | Lot Size | 0.89 AC |
| Property Type | Multifamily | Building Size | 15,964 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 2023 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.89 AC |
| Building Size | 15,964 SF |
| No. Stories | 2 |
| Year Built | 2023 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 24 | - | 1,000 |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,788,784 CAD | |
| Land Assessment | $955,826 CAD | Total Assessment | $5,744,610 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$955,826 CAD
Improvements Assessment
$4,788,784 CAD
Total Assessment
$5,744,610 CAD
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Colonial Garden Apartments | 191-199 Charter Dr
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