Columbia Multifamily Investment
1401 Elmtree Rd Columbia, SC 29209
For Sale
$1,849,000
16-unit apartment complex near Columbia University, fully occupied.
Property Size16,200 SF
Lot Size0.43 Acres
Price / SF$114.14
Days on Market285
Property Features for 1401 Elmtree Rd
General Information
Standard status
Active
Size
16,200 SF
Lot size
0.43 Acres
Listing Agency:
Keller Williams The Forturro Group
Listed By:
Jeff Forman
Source:
Exprealty
Added: Oct 17, 2025
Changed: Jul 10
Last Checked: Jul 26 at 6:15PM
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 Keller Williams The Forturro Group
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $291.6k | $18.00 |
| − Vacancy | −$15.2k | −$0.94 |
| EGI | $276.4k | $17.06 |
| − OpEx | −$124.4k | −$7.68 |
| NOI | $152.0k | $9.39 |
16,200 SF · lease $18.00/SF/yr · vacancy 5.20% · expense 45.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
