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915 Miller Rd
Sumter, SC 29150
The Flats at 915 · Multifamily Property For Sale
·
100 Units
EXECUTIVE SUMMARY
100-Unit Asset | 92% Occupied: Well-maintained 100-unit community currently 92% occupied. One unit has been permanently designated as a maintenance shop. A four-unit building affected by a fire in late 2024 is currently under full rebuild, with completion expected soon. Of the 95 rentable units, 92 are leased and 2 of the 3 vacancies
are pre-leased.
Attractive Assumable Debt: Loan originated in October 2024 featuring a 7-year term with agency execution, 6.0% interest rate, and 2 years of interest-only payments approximately 1 year remaining). Outstanding loan balance is approximately $5.22 million and must be assumed.
Below-Market Rents with Strong Upside: Current in-place rents remain below market averages, offering immediate potential for rent growth through continued interior upgrades and natural turnover. Renovated units have already demonstrated the ability to achieve meaningful rent premiums, highlighting a clear value-add pathway for
new ownership.
Extensive Renovation Program: Ownership has invested over $900,000 in capital improvements since January 2023, with approximately 60% of unit interiors renovated. Exterior enhancements include new roofs on all but three buildings, a repaved parking lot, LED lighting, breezeway upgrades, landscaping improvements, a renovated laundry and leasing office, and added gutters and shutters throughout the property.
are pre-leased.
Attractive Assumable Debt: Loan originated in October 2024 featuring a 7-year term with agency execution, 6.0% interest rate, and 2 years of interest-only payments approximately 1 year remaining). Outstanding loan balance is approximately $5.22 million and must be assumed.
Below-Market Rents with Strong Upside: Current in-place rents remain below market averages, offering immediate potential for rent growth through continued interior upgrades and natural turnover. Renovated units have already demonstrated the ability to achieve meaningful rent premiums, highlighting a clear value-add pathway for
new ownership.
Extensive Renovation Program: Ownership has invested over $900,000 in capital improvements since January 2023, with approximately 60% of unit interiors renovated. Exterior enhancements include new roofs on all but three buildings, a repaved parking lot, LED lighting, breezeway upgrades, landscaping improvements, a renovated laundry and leasing office, and added gutters and shutters throughout the property.
PROPERTY FACTS
| Price Per Unit | $100,618 CAD | Lot Size | 7.88 AC |
| Sale Type | Investment | Building Size | 132,110 SF |
| No. Units | 100 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Garden | Parking Ratio | 1.33/1,000 SF |
| Building Class | C | ||
| Zoning | COMM | ||
| Price Per Unit | $100,618 CAD |
| Sale Type | Investment |
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.88 AC |
| Building Size | 132,110 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | COMM |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Walk-In Closets
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 800 |
| 2+1 | 76 | - | 900 |
| 3+1 | 12 | - | 1,000 |
PROPERTY TAXES
| Parcel Number | 229-06-01-005 | Improvements Assessment | $266,638 CAD |
| Land Assessment | $52,790 CAD | Total Assessment | $319,428 CAD |
PROPERTY TAXES
Parcel Number
229-06-01-005
Land Assessment
$52,790 CAD
Improvements Assessment
$266,638 CAD
Total Assessment
$319,428 CAD
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