200 York St - Apartments FOR SALE


Chester, SC 29706
$4,125,000 USD
843-327-8413
200 York St, Chester, SC for Sale
$4,125,000 USD
Apartments - FOR SALE
1/51
null | Request Cap Rate

200 York St
Chester, SC 29706


HIGHLIGHTS

  • Property Tax-Abatement In-Place.
  • Value-Add Opportunity: 39/75 Units Currently Renovated.
  • Management-Driven Upside: Opportunity to improve management, collections, tenant retention, and overall operations.
  • Renovated Product: 16/19 roofs replaced, all buildings painted, significant interior unit renovations.
  • Growing Manufacturing Base: Giti Tire, MUSC Health, Boise Cascade, IKO.
  • Strategic I-77 Location: Quick access to Charlotte and Columbia.

OVERVIEW

PROPERTY WEBSITE & DATA ROOM: https://buildout.com/website/1678601-sale Ridgewood Run offers investors the opportunity to acquire a substanially renovated, 75-unit multifamily community in Chester, South Carolina with multiple opportunities to grow NOI. The property consists of 74 two-bedroom, one-bath units approximately 715 square feet and 1 one-bedroom, one bath unit at 500 square feet, with current rents averaging approximately $810 per month. New ownership can continue the existing unit renovation program and improve operations through active hands-on management by improving occupancy, collections, tenant retention, and overall operations. Current ownership has already completed significant capital improvements throughout the property. 16 of the property's 19 roofs were replaced in 2024, all building exteriors have been painted and improved, and numerous unit interiors have been renovated. 39/75 units currently renovated. Interior improvements have included new flooring, paint, cabinets, water heaters, fixtures and appliances, reducing near-term capital needs while leaving additional renovation upside for the next owner. One of Ridgewood Run's strongest advantages is its existing nonprofit property tax abatement with SAHA, which currently reduces real estate taxes to $0. The exemption was secured prior to the June 30, 2026 cutoff affecting most new applications, creating a significant operating advantage that is increasingly difficult for new buyers to replicate. SAHA has indicated that the preferred structure for preserving the abatement is an entity-purchase. Chester County also continues to attract major employers and new investment along the I-77 corridor. Since 2020, the county reports approximately $2.5 billion in new capital investment and more than 1,460 announced jobs. Recent growth includes IKO's new manufacturing facilities, which represent a $363 million investment and 180 jobs, along with additional industrial development throughout the county.

FOR SALE DETAILS

PRICE

$4,125,000 USD

PRICE/SF

$49 USD /SF

# OF UNITS

75

PRICE/UNIT

$55,000

CAP RATE

Request Cap Rate

% LEASED

67%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ridgewood Run Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7 AC

LAND SF

304,920 SF

ZONING

GR

APN/PARCEL ID

201-03-01-015-000

ASK ABOUT THIS PROPERTY

Jonathan KesslerAline CapitalMore Info
843-327-8413

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Jonathan KesslerAline CapitalMore Info
843-327-8413

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.