Multifamily Investment Opportunity

Multifamily Investment Opportunity - 130 Turnbull Street

Lydia Taylor April 18th, 2008

I have just listed a 5 unit multifamily complex in Gloverville, SC. If you are not familiar with Gloverville, it is located along highway 421, in the Valley area. It is an old mill town with a population of about 3000 people. It is unincorporated, and is actually a ‘CDP’ or Census Designated Place, similar to Belvedere, SC.

The complex is located right off Highway 421, behind Langley Pond, and is less than 2 miles away from the intersection of Highway 1 and Sudlow Lake Road. This means that is located less than five miles away from USC Aiken and Aiken Tech - and it shows! This complex has seen an excellent rental history.

Each unit is a one bedroom one bath measuring out at approximately 600 square feet. The rents range from $335-$375, and the complex is fully occupied. Currently, the complex is managed by a professional management company, which makes it essentially hassle free.

With a fully occupied rental revenue of $1700+, you should be able to turn a decent monthly income after mortgage, maintenance, management, insurance, and taxes. If you have been looking for an investment property that can pay for itself and requires little or no effort to build occupancy, then 130 Turnbull might be the property that you have been searching for.

More Information & Further Reading:

Here is a Google Maps view of the location (new window)

My listings page on Elegant Augusta Real Estate (I have a little more information there.)

Two of my recent Blog posts covered Multifamily Investing: Investing in Multifamily Housing: What should a buyer look for? and a guest post, Niche Investments: Student Housing.

Click here for all the Multifamily Housing Listings in Aiken County