408 Saluda AveColumbia, SC 29205

Property Details for 408 Saluda Ave

Year built

1940

Property size (Sq ft)

1,092 SF

Zone code

C-3

Property type

Other commercial real estate

APN

R11309-14-01

APU

R113091401

Description

Exceptional investment opportunity: a brand-new (August 2024 completion), four-unit Class A student housing townhome complex in Columbia, SC. This meticulously designed property boasts 12 bedrooms, each with a private full bath, and features high-end finishes including Black Pearl Granite countertops, Samsung appliances, stained concrete floors, and LVP flooring upstairs. The 4,920 square foot property sits on a 0.26-acre lot and includes 10 parking spaces. Currently 100% occupied with leases extending through July 2026, generating a substantial $239,000 in remaining lease revenue. The property enjoys a strong NOI of $101,136 and a 6.32% cap rate, with a pro-forma NOI of $95,930 and a pro-forma cap rate of 6.00%. Individual utility metering (water/sewer) is in place, minimizing owner expenses. Its prime location, approximately 1.5 miles from the University of South Carolina campus, 5 Points, and Williams Brice Stadium, ensures consistent high occupancy and strong rental income. The asking price is $1,600,000 ($364,750 per unit), representing a compelling value in the thriving Columbia student housing market. The property is fee simple ownership, with permitted multifamily zoning. This is a turnkey investment ready to generate immediate income and long-term appreciation.

Location Insight

City

Columbia

County

Richland

State

South Carolina

Latitude

33.9848

Longitude

-81.0125

CBSA code

17900

CBSA name

COLUMBIA, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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