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Red Rose Apartments 1041 W Meadow Dr 32 Unité Immeuble d’appartements 3 624 608 $ CAD (113 269 $ CAD/Unité) 6,76% Taux de capitalisation Lancaster, SC 29720
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Faits saillants de l'investissement
- 100% Updated Units: All 32 units updated: 25 cosmetically upgraded and 7 fully renovated with new kitchens, appliances, and flooring.
- Multiple Value-Add Levers: Rent growth, water billback on 16 units, flood zone reassessment, and potential tax abatement upside.
- Lancaster County Employment: Anchored by Nutramax Laboratories, Continental Tire, Movement Mortgage, and Founders Federal Credit Union.
- $275K Recent Capex: $275,000 invested in crawl space work, electrical, plumbing, and minor roof repairs across the property.
- Charlotte MSA Location: Approximately 40 miles south of Charlotte in the fast-growing Charlotte-Concord-Gastonia MSA.
Résumé de l'annonce
Marcus & Millichap is pleased to present Red Rose Apartments, a 32-unit multifamily community located in Lancaster, South Carolina. The property is comprised entirely of two-bedroom, one-bathroom floorplans, delivering a uniform unit mix and consistent operating profile.
All 32 units have been updated: 25 cosmetically upgraded and 7 fully renovated with modernized kitchens, updated appliances, and new flooring. An additional $275,000 has been invested in capital improvements, including crawl space work, electrical and plumbing updates, and minor roof repairs, with the roof approximately 15 years old and in good condition. Half the units feature central HVAC while the remaining 16 utilize window units and baseboard heat, replaced as needed. Red Rose presents a stabilized asset with meaningful rent growth already achieved and further upside through bringing rents to market, water utility billback implementation on the remaining 16 units, potential tax abatement, and flood zone reassessment that could reduce insurance costs.
Lancaster, South Carolina sits approximately 40 miles south of Charlotte within the Charlotte-Concord-Gastonia MSA, one of the fastest-growing metros in the Southeast, with Lancaster County ranking among the Charlotte Region’s fastest-growing counties. The Lancaster County economy is anchored by major corporate presences including Nutramax Laboratories, Continental Tire of the Americas, Movement Mortgage, Red Ventures, and Founders Federal Credit Union, supporting steady rental demand and continued rooftop growth.
All 32 units have been updated: 25 cosmetically upgraded and 7 fully renovated with modernized kitchens, updated appliances, and new flooring. An additional $275,000 has been invested in capital improvements, including crawl space work, electrical and plumbing updates, and minor roof repairs, with the roof approximately 15 years old and in good condition. Half the units feature central HVAC while the remaining 16 utilize window units and baseboard heat, replaced as needed. Red Rose presents a stabilized asset with meaningful rent growth already achieved and further upside through bringing rents to market, water utility billback implementation on the remaining 16 units, potential tax abatement, and flood zone reassessment that could reduce insurance costs.
Lancaster, South Carolina sits approximately 40 miles south of Charlotte within the Charlotte-Concord-Gastonia MSA, one of the fastest-growing metros in the Southeast, with Lancaster County ranking among the Charlotte Region’s fastest-growing counties. The Lancaster County economy is anchored by major corporate presences including Nutramax Laboratories, Continental Tire of the Americas, Movement Mortgage, Red Ventures, and Founders Federal Credit Union, supporting steady rental demand and continued rooftop growth.
Salle de données Cliquez ici pour accéder à
- Offering Memorandum
- Operating and Financials
Faits sur la propriété
| Prix | 3 624 608 $ CAD | Style d’appartement | Jardin |
| Prix par unité | 113 269 $ CAD | Classe d’immeuble | C |
| Type de vente | Investissement | Taille du lot | 2,59 AC |
| Taux de capitalisation | 6,76% | Taille du bâtiment | 26 346 pi² |
| Nombre d’unités | 32 | Nombre d’étages | 2 |
| Type de propriété | Immeuble residentiel | Année de construction | 1969 |
| Sous-type de propriété | Appartement | ||
| Zonage | CITY | ||
| Prix | 3 624 608 $ CAD |
| Prix par unité | 113 269 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 6,76% |
| Nombre d’unités | 32 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | Jardin |
| Classe d’immeuble | C |
| Taille du lot | 2,59 AC |
| Taille du bâtiment | 26 346 pi² |
| Nombre d’étages | 2 |
| Année de construction | 1969 |
| Zonage | CITY |
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 2+1 | 32 | - | 800 |
1 1
Assez accessible à pied
40/100
Exceptionnellement adapté aux voitures
100/100
Relativement accessible en vélo
20/100
Impôts fonciers
| Numéro de lot | 0067N-0D-014.00 | Évaluation des bâtiments | 111 105 $ CAD |
| Évaluation du terrain | 31 133 $ CAD | Évaluation totale | 142 238 $ CAD |
Impôts fonciers
Numéro de lot
0067N-0D-014.00
Évaluation du terrain
31 133 $ CAD
Évaluation des bâtiments
111 105 $ CAD
Évaluation totale
142 238 $ CAD
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Red Rose Apartments | 1041 W Meadow Dr
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