1155 Clemson Frontage RdColumbia, SC 29229

Property Details for 1155 Clemson Frontage Rd

Year built

2008

Lot size

10.48 AC

Property size (Sq ft)

273,096 SF

Zone code

GC

Property type

Commercial real estate

APN

R25700-02-10

APU

R257000210

Description

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

• Alternative Use

  Use

  Valuation

  Residential

  $45,893,624

  Hospitality

  $42,038,312

  Educational

  $34,975,384

  Medical

  $36,178,240

  Retail

  $54,406,152

Location Insight

City

Columbia

County

Richland

State

South Carolina

Latitude

34.1005

Longitude

-80.8442

CBSA code

17900

CBSA name

COLUMBIA, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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