1199 Lafayette DrSumter, SC 29150

Property Details for 1199 Lafayette Dr

Year built

1973

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional 100-unit multifamily investment property, located at 1199 N Lafayette Dr, Sumter, SC 29150, presents a compelling opportunity. The property consists of ten buildings, built in 1973 and renovated in 2005, situated on APN 248-08-03-017. Currently offered at $6,500,000 with seller financing available, this portfolio offers significant upside potential. The property boasts immediate rental upside, with current in-place rents averaging $120 below market competitors. A recently renovated two-bedroom unit, featuring new countertops, appliances, backsplash, and flooring, commands a monthly rent of $900, showcasing the potential for increased revenue. While well-maintained, the property's self-management for over five years has prioritized occupancy over rental optimization. Significant operational improvements, including professional management, can further enhance profitability. The property enjoys a convenient location near the Broad Street retail corridor, providing easy access to shopping and dining. Sumter's thriving economy, bolstered by Shaw Air Force Base and numerous colleges and universities, contributes to a strong rental market. This is a rare opportunity to acquire a well-positioned multifamily asset in a growing South Carolina market.

Location Insight

City

Sumter

County

Sumter

State

South Carolina

Latitude

33.9405

Longitude

-80.3388

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