For Sale
$1,195,000

1203 Furches AveFlorence, SC 29505

10-Unit Duplexes, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional multifamily investment opportunity presents five, one-story duplex buildings totaling ten units, situated on a 1.42-acre lot in Florence, South Carolina. Currently boasting 100% occupancy, this Class C property offers immediate cash flow with a strong 7.20% cap rate and a net operating income (NOI) of $86,000. Built between 1978 and 1981, the property features 9,805 square feet of living space, with each unit comprising 981 square feet, including two bedrooms, one bathroom, a kitchen, living room, dining area, in-unit laundry hookups, and a private outdoor storage space. Ample parking is provided with two spaces per unit. The property is zoned residential and benefits from an owner's storage shed. Its prime location offers convenient access to major institutions, including the Medical University of South Carolina (3-minute drive), Francis Marion University (13-minute drive), and Downtown Florence (10-minute drive), home to the FDTC Health-Science Campus, McLeod Regional Medical Center, and a vibrant array of restaurants and shops. The units are well-suited for both long-term unfurnished and short-term/mid-term furnished rentals, presenting a versatile investment opportunity. The asking price is $1,195,000. Occupancy is projected to remain at 100% until November 15, 2024.

Highlights

  • Ten-unit multifamily property in Florence, SC on a 1.42-acre lot.
  • Currently 100% occupied with a 7.20% cap rate and $86,000 NOI.
  • Class C property built between 1978 and 1981, totaling 9,805 square feet.
  • Each unit features 981 sq ft, 2 bedrooms, 1 bath, and in-unit laundry.
  • $1,195,000 asking price; 100% occupancy projected through November 15, 2024.

Property Details for 1203 Furches Ave

Property type
Residential income homes
Square Feet
9,805 SF
Class
C
Year Built
1978
Buildings
5
Stories
1
Lot Size (sq. ft)
61,855 SF
Units
10

Location Insight

City
Florence
County
Florence
State
South Carolina
Latitude
34.164541472735
Longitude
-79.74611434299
1203 Furches Ave, Florence, South Carolina

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1203 Furches Ave
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