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Marcus & Millichap Sells Wyndham Place Apartments In Florence, SC For $3.5M

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SOLD
$3,500,000

South Carolina

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MultiFamily
Sold 06/26/2023
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Property Image
SOLD

Marcus & Millichap Sells Wyndham Place Apartments In Florence, SC For $3.5M

805 West Darlington Street Florence, South Carolina 29501, USA

See Similar Deals
MultiFamily
Sold 06/26/2023
Contact now

Summary

SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

Marcus & Millichap has announced the sale of Wyndham Place Apartments, a 48-unit multifamily property located at 805 West Darlington Street in Florence, South Carolina. The property was sold for $3.5 million, with an average price per unit of $72,917. The recent renovations of the property offer great potential for future rent increases.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,500,000
  • Units: 48
  • Price Per Unit: $72,917

The sale of Wyndham Place Apartments in Florence, SC was facilitated by William Graves, Ryan Lipomi, and Nate McDaniel from Marcus & Millichap. They represented the parties involved in the transaction, ensuring a smooth and successful sale.

Players

William Graves
8 deals$44.1M volume
BROKER

Nate McDaniel
Marcus & Millichap
4 deals$31.1M volume
BROKER

Ryan Lipomi
Marcus & Millichap
7 deals$42.4M volume
BROKER

Details

SOLD
IMAGE: William Graves, Ryan Lipomi & Nate McDaniel DATE: 06/26/2023 ADDRESS: 805 West Darlington Street MARKET: Florence, SC ASSET TYPE: Multifamily BROKERS: William Graves, Ryan Lipomi & Nate McDaniel - Marcus & Millichap SALE PRICE: $3,500,000 UNITS: 48 ~ PPU: $72,917 NOTE: Marcus & Millichap has announced the sale of Wyndham Place Apartments, a 48-unit multifamily property in Florence, South Carolina. The property was sold for $3.5 million, averaging $72,917 per unit, and its recent renovations provide potential for future rent increases.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
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