27 Johnny Morrall Cir Beaufort, SC 29902
- Apartment buildings
- 10.00 lot acres
Current Use by Public Records
- Excel Academy Christian Daycare, LLC / Day Care Center
Property Details for 27 Johnny Morrall Cir
- Year built
- 1980
- Lot size
- 10.00 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents Mossy Oaks Apartments, a 96-unit apartment building situated on 10 acres in Beaufort, South Carolina. Built in 1980, this well-maintained multifamily asset boasts a 92.7% occupancy rate. The property operates under a Low-Income Housing Tax Credit (LIHTC) program and a Section 8 Rental subsidy with a Housing Assistance Payment (HAP) contract in place for all 96 units. This ensures stable rental income and reduced vacancy rates. All units are Section 8 assisted, with contract rents and utility allowances adhering to HUD's Fair Market Rents. The property benefits from favorable renter demographics and a prime location near major demand drivers, top-rated schools, numerous job opportunities, and Class-A retail centers. This presents a unique opportunity for investors seeking a stable, tax-advantaged investment in the desirable Hilton Head Island market. Potential tax abatement strategies are available for eligible buyers. The property's tranquil setting within residential neighborhoods adds to its appeal. This is a classic, affordable asset owned by the original developer, offering a compelling investment proposition in South Carolina's Lowcountry.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Beaufort
- County
- Beaufort
- State
- South Carolina
- Longitude
- -80.6826
- Latitude
- 32.4008
