For Sale
$1,900,000

821 Harborside LnColumbia, SC 29229

Profitable SC Motel, 5 Keys

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional hospitality investment opportunity presents a charming 5-key motel nestled in the heart of Lake Carolina, Columbia, South Carolina. The property boasts a main house and three uniquely designed farmhouse cottages, each featuring covered porches, fully equipped kitchens, living rooms, bedrooms, bathrooms, and laundry facilities. The cottages range from 700 to 1000 square feet, all with 12-foot ceilings creating an open and spacious feel. The main house offers approximately 900 square feet of living space downstairs, including a gourmet kitchen with high-end appliances (Thermador gas range, 70" Thermador Sub-Zero refrigerator, and more), a dining area, and a living room with a wood-burning fireplace. Upstairs, you'll find master suites. The property also includes a large covered front porch, a screened-in back porch with another fireplace, a two-car garage with a workshop, and a greenhouse. The entire property features beautiful custom 6-inch wide plank dark hardwood floors. The motel sits on a property with shared courtyard space and separate parking for each cottage. The location offers convenient access to Lake Carolina's amenities, including a lake, pool, tennis/pickleball courts, walking trails, and dog parks. Nearby, a town center provides various restaurants and shops. Built in 2010 and renovated in 2012, this 4,500-square-foot property has a strong income history, generating a Net Operating Income (NOI) of $108,000 and a 5.68% cap rate. The asking price is $1,900,000. This turnkey operation presents a compelling investment opportunity for owner-users seeking a profitable and charming hospitality business in a desirable location.

Highlights

  • Main house suitable for owner occupancy or rental.
  • Three cottages generate strong nightly rental income, currently achieving 75% occupancy.
  • Annual revenue totals $108,000 with upside potential.
  • A 3-bedroom, 2-bathroom bungalow at 113 Lake Carolina is also available, generating $40,000 annually in Airbnb income.
  • Package deal price: $2,300,000 (representing a $100,000 savings).

Property Details for 821 Harborside Ln

Property type
Hospitality properties, Motels
Square Feet
4,500 SF
Year Built/Renovated
10/2
Buildings
3
Stories
2

Location Insight

City
Columbia
County
Richland
State
South Carolina
Latitude
34.1777657
Longitude
-80.8890339
821 Harborside Ln, Columbia, South Carolina

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821 Harborside Ln
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