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Ridgewood Chester, LLC Acquires 7.33 Acre Multifamily Property In Chester, SC For $3.1M

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SOLD
$3,100,000

South Carolina

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MultiFamily
Sold 10/30/2023
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Property Image
SOLD

Ridgewood Chester, LLC Acquires 7.33 Acre Multifamily Property In Chester, SC For $3.1M

200 York Street

See Similar Deals
MultiFamily
Sold 10/30/2023
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Summary

SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

An 7.33-acre multifamily property located at 200 York Street in Chester, South Carolina, has been sold for $3.1 million. The property, known as Chester Village Apartments, consists of 75 units, with each unit priced at approximately $41,333.

Summary of transaction details

Marcus & Millichap facilitated the sale of Chester Village Apartments, a 75-unit multifamily community in Chester, South Carolina. The transaction, which amounted to $3.1 million, represents a price of approximately $41,333 per unit. Drew Babcock and Isabella Benucci, from Marcus & Millichap, served as the brokers for this deal.

Players

Drew Babcock
2 deals$24.6M volume
BROKER

Isabella Benucci
Marcus & Millichap
1 deal$3.1M volume(803) 678-4902
BROKER

Details

SOLD
IMAGE: Drew Babcock & Isabella Benucci DATE: 10/30/2023 ADDRESS: 200 York Street MARKET: Chester, SC ASSET TYPE: Multifamily ~ ACRES: 7.33 BUYER: Ridgewood Chester, LLC BROKERS: Drew Babcock & Isabella Benucci - Marcus & Millichap SALE PRICE: $3,100,000 UNITS: 75 ~ PPU: $41,333 NOTE: Marcus & Millichap announced the $3.1 million sale of Chester Village Apartments, a 75-unit multifamily community in Chester, South Carolina, equating to $41,333 per unit.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$165,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,013.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,695.58
Annual Debt Service$176,346.98