406 Malibu Dr - Multi-Family FOR SALE


Orangeburg, SC 29115
$3,000,000 USD
910-986-1767
406 Malibu Dr, Orangeburg, SC for Sale
$3,000,000 USD
Multi-Family - FOR SALE
1/4
null | 7.38% Cap Rate

406 Malibu Dr
Orangeburg, SC 29115


HIGHLIGHTS

  • Low Basis Per Unit: Priced at $3,000,000 ($41,096 per unit).
  • Opportunity for SC Tax Abatement Program: The buyer has the unique opportunity to implement South Carolina’s tax abatement program.
  • Recent Unit Turns Completed: 50 of the 73 units have undergone standard unit turns.
  • Strong Value-Add Upside: With 23 units available for targeted renovations,the property offers clear pathways to push rents to market level.
  • Location: Major employers coming to the market within the next 5 years.

OVERVIEW

Marcus & Millichap is pleased to present Malibu Apartments, a 73-unit multifamily community located in Orangeburg, South Carolina, offering investors the opportunity to acquire a value-add multifamily asset with strong cash flow potential in a growing regional market. Built in 1975, the property features a diversified and highly marketable unit mix consisting of 3 studio units, 50 one-bedroom/one-bathroom units, and 20 two-bedroom/one-bathroom units. Orangeburg benefits from consistent housing demand driven by major employers, educational institutions such as South Carolina State University, and the Regional Medical Center, further amplified by robust job growth from incoming projects including a new food processing plant and Syngenta's state-of-the-art biologicals production facility. The property’s convenient access to downtown Orangeburg, retail centers, and major thoroughfares further enhances its attractiveness to tenants seeking affordability and accessibility. Malibu Apartments presents a compelling value-add investment opportunity through continued rental growth, operational efficiencies, and potential interior and exterior enhancements. With limited new multifamily supply in the immediate market and increasing demand for quality workforce housing, the property is well positioned to capitalize on favorable supply and demand dynamics. Investors will benefit from the combination of scale, in-place income, and long-term appreciation potential, making Malibu Apartments an attractive acquisition for buyers seeking consistent performance in a proven South Carolina secondary market.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$66 USD /SF

# OF UNITS

73

PRICE/UNIT

$41,096

CAP RATE

7.38%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Malibu Apartments

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.1 AC

LAND SF

178,596 SF

ZONING

-

APN/PARCEL ID

0152-12-29-001.000

ASK ABOUT THIS PROPERTY

Ryan LipomiMarcus & MillichapMore Info
910-986-1767

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Ryan LipomiMarcus & MillichapMore Info
910-986-1767

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