1155 Clemson Frontage Rd Columbia, SC 29229

This exceptional 240-unit apartment building, constructed in 2008, sits on a 22.84-acre lot in Richland County, South Carolina, at 1155 Clemson Frontage Rd, Columbia, SC 29229. Currently priced at $34,000,000, this property presents a compelling investment opportunity in the rapidly growing Wildwood submarket of Northeast Columbia. The complex boasts meticulously maintained units and offers significant potential for rental income growth. A day-one opportunity exists to increase average rents by approximately $150 per unit without major renovations, aligning the property with market rates. All original fixtures and finishes provide a blank canvas for value-add investors. The property's location near a new Publix Shopping Center and an affluent neighborhood with an average area median income exceeding $100,000 further enhances its appeal. Currently owned by a non-profit foundation, the property is not subject to property taxes. However, specific rental restrictions apply to 75% of the units until December 2, 2028, tied to Area Median Income (AMI) guidelines (80% AMI for 75% of units, with 20% of those units at 50% AMI). A for-profit buyer would eliminate the 80% AMI restriction, but would lose the tax exemption. These restrictions do not limit maximum rental rates