407 Royal St - Apartments FOR SALE


Florence, SC 29506
$690,000 USD
843-952-2265
407 Royal St, Florence, SC for Sale
$690,000 USD
Apartments - FOR SALE
1/5
null | 7.22% Cap Rate

407 Royal St
Florence, SC 29506


HIGHLIGHTS

  • Recently Renovated: The property has undergone recent upgrades, enhancing unit appeal and supporting potential rent growth.
  • Stable Cash Flow: Proven occupancy and consistent rent collections provide reliable income.
  • Strong Submarket Demand: Located in a high-demand section of Florence with steady rental absorption and tenant interest.
  • Proximity to Major Employers: Easy access to healthcare, manufacturing, education, and logistics hubs drives tenant stability.
  • Strategic Transportation Access: Close to Interstate 95 and U.S. Highway 76, linking residents to regional destinations.
  • Upside Potential: Opportunities exist to increase NOI through operational efficiencies, minor renovations, or lease adjustments.

OVERVIEW

Marcus & Millichap is pleased to present Royal Street Apartments, a 10-unit multifamily community located in Florence, South Carolina. Royal Street Apartments is positioned in a demand-driven submarket of Florence, supported by consistent rental demand and proximity to key economic drivers including healthcare, manufacturing, logistics, and education. The property’s location provides residents with convenient access to major employers, retail corridors, and community amenities, making it an attractive housing option for long-term tenants. The asset has recently undergone renovations, enhancing unit appeal and overall property condition. It delivers stable in-place income with proven occupancy while offering potential upside through targeted operational improvements. Florence’s multifamily market is supported by population growth, a diverse employment base, and ongoing economic investment, positioning Royal Street Apartments for sustained rent growth and long-term value appreciation. Conveniently located near Interstate 95 and U.S. Highway 76, the property provides residents easy access to Columbia, Myrtle Beach, and other regional markets, reinforcing its role as a reliable, cash-flowing investment in a resilient secondary market.

FOR SALE DETAILS

PRICE

$690,000 USD

PRICE/SF

$80 USD /SF

# OF UNITS

10

PRICE/UNIT

$69,000

CAP RATE

7.22%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Royal Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

R4

APN/PARCEL ID

90114-01-003,90114-01-013

ASK ABOUT THIS PROPERTY

Carson FordMarcus & MillichapMore Info
843-952-2265

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Carson FordMarcus & MillichapMore Info
843-952-2265

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