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1708 S Beltline,  Columbia SC, 29205

(Active)
$321,500
|
5 Full baths
|
MLS# 440599
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Last Updated: 2/23/2018 2:15 PM
Description for 1708 S Beltline Columbia, SC 29205
A rescued 8plex with potential and owner-financing available. At some point, someone turned a fine 8plex into a 6plex⦠why? Who knows? But it is ready for you. 1708 Beltline is an up-and-coming part of Columbia. Phase 1 renovations complete on this rare 8plex in Columbia. Brand-new double pane windows throughout, a laundry room with new commercial coin-op washer and dryer (currently bringing in an extra $20 per tenant per month), water efficiency improvements in occupied units (saving over $100 per month), and structural work (including physically splitting the 2br units back into 1br units) are done. Phase 2 is ready to begin. 4 units occupied at $400 per month. Tenants pay electric. Leases month-to-month. Weâre changing property managers in March and will be shifting water costs to the tenants ($50 per unit per month) and raising rents to market rates ($500++). Thereâs plenty of room for growth, depending on how you want to position the property. Pro Forma: Gross rents:$4000 Laundry:$160 at current rate of $20 per unit per month Shared Water: Currently $330 (will drop to near $0 as cost is shifted to tenants) Common Area Electric:$80 Property management:$400 Insurance:$1330 Taxes:$3557 Projected NOI at $500 per unit: $39,276 At CAP rate 8, that would put a target value on the property of $490,950 Sample owner-finance deal: $45,000 down, $1500 X 3 months, $2500 X 3 months, $3000 for final 6 months, interest only. Final Price 331,500 (less $45,000 down).
Price
$321,500
Rosewood
Richland
5 Full
440599
Active
Description
A rescued 8plex with potential and owner-financing available. At some point, someone turned a fine 8plex into a 6plex⦠why? Who knows? But it is ready for you. 1708 Beltline is an up-and-coming part of Columbia. Phase 1 renovations complete on this rare 8plex in Columbia. Brand-new double pane windows throughout, a laundry room with new commercial coin-op washer and dryer (currently bringing in an extra $20 per tenant per month), water efficiency improvements in occupied units (saving over $100 per month), and structural work (including physically splitting the 2br units back into 1br units) are done. Phase 2 is ready to begin. 4 units occupied at $400 per month. Tenants pay electric. Leases month-to-month. Weâre changing property managers in March and will be shifting water costs to the tenants ($50 per unit per month) and raising rents to market rates ($500++). Thereâs plenty of room for growth, depending on how you want to position the property. Pro Forma: Gross rents:$4000 Laundry:$160 at current rate of $20 per unit per month Shared Water: Currently $330 (will drop to near $0 as cost is shifted to tenants) Common Area Electric:$80 Property management:$400 Insurance:$1330 Taxes:$3557 Projected NOI at $500 per unit: $39,276 At CAP rate 8, that would put a target value on the property of $490,950 Sample owner-finance deal: $45,000 down, $1500 X 3 months, $2500 X 3 months, $3000 for final 6 months, interest only. Final Price 331,500 (less $45,000 down).
Listing Information
Property Type: Apartment, Other
5 Full
Rosewood
Crawl Space
Community Water
Public Sewer
Neighborhood
School Information
District: Richland One
KILBOURNE HAND DREHER
Room Information
Bathrooms
5
Interior Features
Wall Air Conditioning
Electric Heating
3
Exterior / Lot Features
12 Parking Spaces, Off Street
160X137.2X160X126
Paved Road
Financial Considerations
13681-01-11
Listing Price History

Columbia Real Estate

Columbia is located in South Carolina. Columbia, South Carolina 29205 has a population of 133,803.

The median household income in Columbia, South Carolina 29205 is $41,454. The median household income for the surrounding county is $48,674 compared to the national median of $53,482. The median age of people living in Columbia 29205 is 28.3 years.

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Courtesy: Christopher Bunge - Coldwell Banker Residential Brokerage
The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Consolidated MLS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Copyright, Consolidated MLS®
This content last refreshed on 2/23/2018 2:15 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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