Renovated Triplex With Furnished
For Sale
$569,000
3132 Lakewood Avenue, Columbia, SC 29201
MULTI-FAMILY, Columbia, SC
Property Size2,943 SF
Price / SF$193.34
Days on Market125
Property Features for 3132 Lakewood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 4
Parking
3
Parking features
Assigned, Off Street
Subdivision
EARLEWOOD
Elementary school
Logan
Middle school
St Andrews
High school
Columbia
Elementary school district
Richland One
Middle school district
Richland One
High school district
Richland One
Directions
GPS 3132 Lakewood
Standard status
Active
Size
2,943 SF
Utilities
Heating system
Central
Cooling system
Central Air, Multi Units, Wall Unit(s)
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
3
Listing Agency:
RE/MAX Home Team Realty LLC · RE/MAX International
Listed By:
J Parker Smith
(803) 764-3243
Added: May 10
Changed: Sep 4
Last Checked: Sep 11 at 3:06PM
MLS# 633766
Copyright © 2026 Consolidated MLS, SC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,943-square-foot triplex, built in 1950, contains two upper-level two-bedroom, one-bath units and a furnished ground-floor one-bedroom, one-bath unit with a separate entrance. The property is fully occupied, and each residence includes its own washer and dryer. Central heating serves the building, with a combination of central air, wall units, and multi-unit cooling.
Interior improvements include white shaker cabinetry, granite counters, stainless Whirlpool appliances, marble kitchen tile, refinished original hardwood flooring, luxury vinyl plank flooring, ceiling fans, and custom black pipe closet systems. Assigned and off-street parking are provided, along with public water service.
Located at 3132 Lakewood Avenue in Columbia’s Historic Earlewood neighborhood, the property is approximately a 7-minute drive from downtown Columbia, USC, and the Vista. The surrounding area includes mature trees and sidewalks.
Interior improvements include white shaker cabinetry, granite counters, stainless Whirlpool appliances, marble kitchen tile, refinished original hardwood flooring, luxury vinyl plank flooring, ceiling fans, and custom black pipe closet systems. Assigned and off-street parking are provided, along with public water service.
Located at 3132 Lakewood Avenue in Columbia’s Historic Earlewood neighborhood, the property is approximately a 7-minute drive from downtown Columbia, USC, and the Vista. The surrounding area includes mature trees and sidewalks.
Key Highlights
- 2,943‑square‑foot triplex with three occupied units
- Unit mix includes two 2BD/1BA upper units and one furnished 1BD/1BA ground‑floor unit
- Ground‑floor residence has its own separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,538
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$630,760
$630.8K
Cap Rate 7%
$450,543
$450.5K
Cap Rate 9%
$350,422
$350.4K
Market Conditions
NOI Build-Up for 2,943 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.7K $16.20/SF
− Vacancy
−$2.6K −$0.89/SF
EGI
$45.1K $15.31/SF
− OpEx
−$13.5K −$4.59/SF
NOI
$31.5K $10.72/SF
Area
Columbia, SC
Vacancy
5.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$630,760
Cap Rate 7%
$450,543
Cap Rate 9%
$350,422
Alternative Uses
Best Use
Multifamily LT 5
$450.5K
$394.2K – $525.6K
NOI $31,538 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$394.6K
$345.3K – $460.4K
NOI $27,621 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$724.7K
$634.1K – $845.5K
NOI $50,728 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 29201, SC
25,259
Population
12,619
Households
2
Avg Household Size
25
Median Age
56%
College-Educated
92%
High-School Grad
11.5 sq mi
ZIP Area
2,196
Density / Sq Mi
$34,327
Median Household Income
$14,671
Median Earnings
$1,207
Median Rent
$238,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied units offer updated interiors, separate access for the ground-floor residence, and assigned off-street parking.
Where is this triplex located?
The property is located at 3132 Lakewood Avenue Columbia, SC.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: 2,943‑square‑foot triplex with three occupied units; Unit mix includes two 2BD/1BA upper units and one furnished 1BD/1BA ground‑floor unit; Ground‑floor residence has its own separate entrance
