Renovated Quadplex
New
For Sale
$1,025,000
3940 Gill Street, Columbia, SC 29205
Three brick buildings contain studio residences on a shared Columbia parcel.
Property Size5,290 SF
Lot Size0.60 Acres
Price / SF$193.76
Days on Market6
Property Features for 3940 Gill Street
General Information
Standard status
Active
Size
5,290 SF
Lot size
0.60 Acres
Property subtype
Apartment
Units
Unit Mix
12 x studio
Multifamily Units
12
Amenities
0 acres, Lot Size: approx .60 acres, Lawn: Owner
Sewer: Owner, Sewer: Public
Heat Pump 1st Lvl
Heating: Tenant, Electric, Heat Pump 1st Lvl
Listed on 2026-07-30
12 parking spaces, Off Street
School District: Richland One, Elementary School: Kilbourne, High School: Dreher, Middle School: Hand
Area: Columbia - South, Subdivision: ROSEWOOD, County: Richland, Geo Latitude: 33.976125, Geo Longitude: -80.985128
12 total units
Rent is 0, 1 bedroom, 3 rooms, 1 full bath
5 total bathrooms, 5 full baths
Gas: Tenant, Electric: Tenant, Cable: Tenant, Trash: Owner
Slab
Water: Owner, Public
Building Details
Year Built
1965
Year Renovated
2026
Buildings
3
Stories
1
Construction
brick
Listing Agency:
Coldwell Banker Realty
(803) 799-8035
Listed By:
Bill Graham
Source:
Blackstreaminternational
Added: Jul 30
Changed: Aug 3
Last Checked: Aug 3 at 5:32AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This Columbia property comprises three single-story brick quadplex buildings on one 0.60-acre parcel. Together, the buildings contain 12 studio apartments. All units underwent extensive renovation in July 2026, creating a recently updated multifamily asset with a consistent unit format across the property.
The property was constructed in 1965 and is located at 3940 Gill Street, Columbia, SC 29205. Its 12-unit configuration supports several explicitly identified rental approaches, including short-term, mid-term, student, long-term, and Section 8 housing. The renovated units are positioned for occupancy following the completed improvement program.
The property was constructed in 1965 and is located at 3940 Gill Street, Columbia, SC 29205. Its 12-unit configuration supports several explicitly identified rental approaches, including short-term, mid-term, student, long-term, and Section 8 housing. The renovated units are positioned for occupancy following the completed improvement program.
Key Highlights
- Three single‑story brick quadplex buildings on one 0.60‑acre lot
- 12 studio apartments across the property
- All 12 units extensively renovated in July 2026
Financial Insights For Multifamily LT 5
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 | $85.7k | $16.20 |
| − Vacancy | −$4.7k | −$0.89 |
| EGI | $81.0k | $15.31 |
| − OpEx | −$24.3k | −$4.59 |
| NOI | $56.7k | $10.72 |
5,290 SF · lease $16.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$809.8K
$708.6K – $944.8K
NOI $56,689 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$709.3K
$620.6K – $827.5K
NOI $49,648 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,183 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 29205, SC
23,586
Population
12,792
Households
1.8
Avg Household Size
34
Median Age
66%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
3,629
Density / Sq Mi
$62,197
Median Household Income
$41,660
Median Earnings
$1,100
Median Rent
$335,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Three brick buildings contain studio residences on a shared Columbia parcel.
Where is this quadplex located?
The property is located at 3940 Gill Street Columbia, SC.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Three single‑story brick quadplex buildings on one 0.60‑acre lot; 12 studio apartments across the property; All 12 units extensively renovated in July 2026
