Columbia Multifamily Investment
For Sale
$1,849,000
1401 Elmtree Rd., Columbia, SC 29209
16-unit apartment complex near Columbia University, fully occupied.
Property Size16,200 SF
Lot Size0.43 Acres
Price / SF$114.14
Days on Market142
Property Features for 1401 Elmtree Rd.
General Information
Standard status
Active
Size
16,200 SF
Total Parking Spaces
16
Lot size
0.43 Acres
Property subtype
Industrial
Zoning
Apartments
Building Details
Year Built
1987
Stories
2
Listed By:
The Moore Company
(803) 477-3930
Source:
Themoorecompany.idxbroker
Added: May 27
Changed: Oct 2
Last Checked: Oct 14 at 7:42PM
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 The Moore Company
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Investment Insights
Based on property information with market context.
This multi-family investment property features 16 units in Columbia, SC, comprising 8 three-bedroom, two-bath units and 8 two-bedroom, two-bath units. The property is fully occupied and managed by a local management company. Situated on a 0.43-acre lot adjacent to Columbia University, the location provides convenience and accessibility for tenants. The apartment complex features renovated units, enhancing rental appeal and tenant satisfaction. The property offers the potential for increased rental income.
Key Highlights
- 16‑unit multi‑family investment property in Columbia, SC.
- Prime location adjacent to Columbia University.
- Attractive mix of 8 spacious 3‑bedroom, 2‑bath units and 8 comfortable 2‑bedroom, 2‑bath units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,040
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,040,800
$3.0M
Cap Rate 7%
$2,172,000
$2.2M
Cap Rate 9%
$1,689,333
$1.7M
Market Conditions
NOI Build-Up for 16,200 SF
Gross rent
$291.6K $18.00/SF
− Vacancy
−$15.2K −$0.94/SF
EGI
$276.4K $17.06/SF
− OpEx
−$124.4K −$7.68/SF
NOI
$152.0K $9.39/SF
Area
Columbia, SC
Vacancy
5.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,040,800
Cap Rate 7%
$2,172,000
Cap Rate 9%
$1,689,333
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $152,040 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.99M
$3.49M – $4.65M
NOI $279,236 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Explore this area
Business Placement
Demographics for 29209, SC
35,738
Population
16,520
Households
2.2
Avg Household Size
37
Median Age
39%
College-Educated
93%
High-School Grad
52.8 sq mi
ZIP Area
677
Density / Sq Mi
$58,854
Median Household Income
$38,756
Median Earnings
$1,252
Median Rent
$183,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 16-unit apartment complex near Columbia University, fully occupied.
Where is this apartment building located?
The property is located at 1401 Elmtree Rd. Columbia, SC.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: 16‑unit multi‑family investment property in Columbia, SC.; Prime location adjacent to Columbia University.; Attractive mix of 8 spacious 3‑bedroom, 2‑bath units and 8 comfortable 2‑bedroom, 2‑bath units.
