2491 Russell St - Apartments FOR SALE


Orangeburg, SC 29115
$629,000 USD
843-284-8834
2491 Russell St, Orangeburg, SC for Sale
$629,000 USD
Apartments - FOR SALE
1/13
null | 8% Cap Rate

2491 Russell St
Orangeburg, SC 29115


OVERVIEW

Offered at just $78,625 per unit and located close to SC State and Claflin Universities, this fully occupied 8-unit complex generates an impressive $73,560 in gross rent. The 5,652-sqft building underwent a major interior/exterior renovation just three years ago and the 0.87-acre lot offers additional land for further expansion. Includes seven 2BR/1BA units and one 1BR/1BA unit with ample parking. Orangeburg has seen substantial investment in community and infrastructure improvements, including a brand-new City Hall and Library/Conference Center on Russell Street, the new Orangeburg Wilkinson High School, and new county courthouse scheduled to break ground this year. SC State has experienced a 33% increase in enrollment over the past five years, creating a student housing shortage. This surge presents a strategic opportunity for investors to operate the property as dedicated student housing, where demand continues to outpace supply.

FOR SALE DETAILS

PRICE

$629,000 USD

PRICE/SF

$111 USD /SF

# OF UNITS

8

PRICE/UNIT

$78,625

CAP RATE

8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1974

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.86 AC

LAND SF

37,462 SF

ZONING

-

APN/PARCEL ID

0182-09-03-003.000

ASK ABOUT THIS PROPERTY

Chris CalabreseGatehouse Realty, LLCMore Info
843-284-8834

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Chris CalabreseGatehouse Realty, LLCMore Info
843-284-8834

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