Renovating Condo-Platform
11 Kinston Manor Dr Westminster, SC 29693
For Sale
$11,400,000
108-unit single-sponsor condominium platform with ongoing phased unit-by-unit renovations and Phase I delivered for current income.
Days on Market72
Property Features for 11 Kinston Manor Dr
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing Agency:
Charleston Office
(843) 952-2223
Listed By:
Ryan Lipomi · License #License(s): SC: 118061, GA: 448949, NC: LC982
(843) 952-2223
Source:
Marcusmillichap
Added: May 14
Changed: Jul 23
Last Checked: Jul 23 at 3:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Charleston Office
Investment Insights
Based on property information with market context.
Lake Hartwell Villas is a 108-unit single-sponsor-controlled condominium platform offered for sale in Westminster, South Carolina. The property is in the middle of a value-add renovation, with the seller reporting $3,000,000+ invested in unit-by-unit upgrades across four phases. Work includes replacements of roofs and major mechanical systems such as HVAC, electrical, plumbing, and water heaters, along with updates to flooring, kitchens, baths, and the exterior envelope.
Phase I is fully delivered (13 units) and is generating in-place income from long-term residents and an active Airbnb program. Phase II includes 28 units and is 21% complete, with 22 units in progress. Phases III and IV total 59 units, plus eight unassigned-phase units, and are mid-renovation with major mechanical systems installed and remaining finish work.
Because 108 of the 114 units convey together, the buyer will obtain day-one supermajority control of the Lake Hartwell Villas POA. STR is permitted under the Master Deed recorded April 27, 2023 under the SC Horizontal Property Act. The Master Deed is referenced in the offering materials as being recorded in Oconee County.
Phase I is fully delivered (13 units) and is generating in-place income from long-term residents and an active Airbnb program. Phase II includes 28 units and is 21% complete, with 22 units in progress. Phases III and IV total 59 units, plus eight unassigned-phase units, and are mid-renovation with major mechanical systems installed and remaining finish work.
Because 108 of the 114 units convey together, the buyer will obtain day-one supermajority control of the Lake Hartwell Villas POA. STR is permitted under the Master Deed recorded April 27, 2023 under the SC Horizontal Property Act. The Master Deed is referenced in the offering materials as being recorded in Oconee County.
Key Highlights
- 108‑unit single‑sponsor‑controlled condominium platform in Westminster, SC (108 of 114 units convey).
- Day‑one supermajority control of the Lake Hartwell Villas POA with governance under the SC Horizontal Property Act.
- Mid‑renovation value‑add with $3,000,000+ invested unit‑by‑unit across four phases: roofs, HVAC, electrical, plumbing, water heaters, flooring, kitchens, baths, and exterior envelope.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
FAQs
What type of property is this?
Apartment building - 108-unit single-sponsor condominium platform with ongoing phased unit-by-unit renovations and Phase I delivered for current income.
Where is this apartment building located?
The property is located at 11 Kinston Manor Dr Westminster, SC.
What is the asking price?
The asking price for this property is $11,400,000.
What are key features of this property?
This property features: 108‑unit single‑sponsor‑controlled condominium platform in Westminster, SC (108 of 114 units convey).; Day‑one supermajority control of the Lake Hartwell Villas POA with governance under the SC Horizontal Property Act.; Mid‑renovation value‑add with $3,000,000+ invested unit‑by‑unit across four phases: roofs, HVAC, electrical, plumbing, water heaters, flooring, kitchens, baths, and exterior envelope.
