thank you
Your email has been sent.
The Flats at 915 915 Miller Rd 100 Unit Apartment Building $7,300,000 ($73,000/Unit) Sumter, SC 29150
EXECUTIVE SUMMARY
100-Unit Asset | 92% Occupied: Well-maintained 100-unit community currently 92% occupied. One unit has been permanently designated as a maintenance shop. A four-unit building affected by a fire in late 2024 is currently under full rebuild, with completion expected soon. Of the 95 rentable units, 92 are leased and 2 of the 3 vacancies
are pre-leased.
Attractive Assumable Debt: Loan originated in October 2024 featuring a 7-year term with agency execution, 6.0% interest rate, and 2 years of interest-only payments approximately 1 year remaining). Outstanding loan balance is approximately $5.22 million and must be assumed.
Below-Market Rents with Strong Upside: Current in-place rents remain below market averages, offering immediate potential for rent growth through continued interior upgrades and natural turnover. Renovated units have already demonstrated the ability to achieve meaningful rent premiums, highlighting a clear value-add pathway for
new ownership.
Extensive Renovation Program: Ownership has invested over $900,000 in capital improvements since January 2023, with approximately 60% of unit interiors renovated. Exterior enhancements include new roofs on all but three buildings, a repaved parking lot, LED lighting, breezeway upgrades, landscaping improvements, a renovated laundry and leasing office, and added gutters and shutters throughout the property.
are pre-leased.
Attractive Assumable Debt: Loan originated in October 2024 featuring a 7-year term with agency execution, 6.0% interest rate, and 2 years of interest-only payments approximately 1 year remaining). Outstanding loan balance is approximately $5.22 million and must be assumed.
Below-Market Rents with Strong Upside: Current in-place rents remain below market averages, offering immediate potential for rent growth through continued interior upgrades and natural turnover. Renovated units have already demonstrated the ability to achieve meaningful rent premiums, highlighting a clear value-add pathway for
new ownership.
Extensive Renovation Program: Ownership has invested over $900,000 in capital improvements since January 2023, with approximately 60% of unit interiors renovated. Exterior enhancements include new roofs on all but three buildings, a repaved parking lot, LED lighting, breezeway upgrades, landscaping improvements, a renovated laundry and leasing office, and added gutters and shutters throughout the property.
PROPERTY FACTS
| Price | $7,300,000 | Building Class | C |
| Price Per Unit | $73,000 | Lot Size | 7.88 AC |
| Sale Type | Investment | Building Size | 132,110 SF |
| No. Units | 100 | Average Occupancy | 93% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Garden | Parking Ratio | 1.33/1,000 SF |
| Zoning | COMM | ||
| Price | $7,300,000 |
| Price Per Unit | $73,000 |
| Sale Type | Investment |
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.88 AC |
| Building Size | 132,110 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | COMM |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Walk-In Closets
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 800 |
| 2+1 | 76 | - | 900 |
| 3+1 | 12 | - | 1,000 |
1 of 1
PROPERTY TAXES
| Parcel Number | 229-06-01-005 | Improvements Assessment | $193,450 |
| Land Assessment | $38,300 | Total Assessment | $231,750 |
PROPERTY TAXES
Parcel Number
229-06-01-005
Land Assessment
$38,300
Improvements Assessment
$193,450
Total Assessment
$231,750
1 of 14
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
The Flats at 915 | 915 Miller Rd
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.