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Timberlane Apartments 3610 Timberlane Dr 32 Unit Apartment Building $2,875,000 ($89,844/Unit) Columbia, SC 29205
EXECUTIVE SUMMARY
Architectural shingles + brick exterior
Renovations: New flooring, paint, and appliances as needed
Single-story on slab units with individual private courtyards
Common laundry (coin-operated)
Surveillance system on site
Each building has a master water meter - tenants pay a monthly water surcharge
Prime Location: Close to major employers, educational institutions, and local amenities
Easy access to Downtown and the University of South Carolina
Offered significantly below replacement costs
Modernized units for tenant appeal
Strong rent growth potential
Strong demand for 1 bedroom studio apartments
Turnkey opportunity with ongoing upgrades at each turn
Close proximity to shopping, dining, and city park
Low cost turns to add value
SC Tax Abatement Opportunity: Current rents are below Area Median Income (AMI) requirements, potentially qualifying for tax benefits.
Value-Add Potential: Opportunity to continue interior renovations and increase rents to market levels.
Renovations: New flooring, paint, and appliances as needed
Single-story on slab units with individual private courtyards
Common laundry (coin-operated)
Surveillance system on site
Each building has a master water meter - tenants pay a monthly water surcharge
Prime Location: Close to major employers, educational institutions, and local amenities
Easy access to Downtown and the University of South Carolina
Offered significantly below replacement costs
Modernized units for tenant appeal
Strong rent growth potential
Strong demand for 1 bedroom studio apartments
Turnkey opportunity with ongoing upgrades at each turn
Close proximity to shopping, dining, and city park
Low cost turns to add value
SC Tax Abatement Opportunity: Current rents are below Area Median Income (AMI) requirements, potentially qualifying for tax benefits.
Value-Add Potential: Opportunity to continue interior renovations and increase rents to market levels.
PROPERTY FACTS
| Price | $2,875,000 | Building Class | C |
| Price Per Unit | $89,844 | Lot Size | 1.74 AC |
| Sale Type | Investment | Building Size | 25,000 SF |
| No. Units | 32 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Parking Ratio | 0.8/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RM-MD | ||
| Price | $2,875,000 |
| Price Per Unit | $89,844 |
| Sale Type | Investment |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.74 AC |
| Building Size | 25,000 SF |
| No. Stories | 1 |
| Year Built | 1977 |
| Parking Ratio | 0.8/1,000 SF |
| Zoning | RM-MD |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Walk-In Closets
SITE AMENITIES
- Laundry Facilities
- Security System
- Walk To Campus
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 32 | - | 716 |
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PROPERTY TAXES
| Parcel Number | 13706-01-02 | Improvements Assessment | $1,282,300 |
| Land Assessment | $12,500 | Total Assessment | $1,294,800 |
PROPERTY TAXES
Parcel Number
13706-01-02
Land Assessment
$12,500
Improvements Assessment
$1,282,300
Total Assessment
$1,294,800
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Timberlane Apartments | 3610 Timberlane Dr
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