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.