1203 Furches Ave Florence, SC 29505

Property Details for 1203 Furches Ave

Year built

1978

Lot size

1.42 lot acres

Property size

9,805 SF

Property type

Residential income homes

Description

This exceptional multifamily investment opportunity presents five, one-story duplex buildings totaling ten units, situated on a 1.42-acre lot in Florence, South Carolina. Currently boasting 100% occupancy, this Class C property offers immediate cash flow with a strong 7.20% cap rate and a net operating income (NOI) of $86,000. Built between 1978 and 1981, the property features 9,805 square feet of living space, with each unit comprising 981 square feet, including two bedrooms, one bathroom, a kitchen, living room, dining area, in-unit laundry hookups, and a private outdoor storage space. Ample parking is provided with two spaces per unit. The property is zoned residential and benefits from an owner's storage shed. Its prime location offers convenient access to major institutions, including the Medical University of South Carolina (3-minute drive), Francis Marion University (13-minute drive), and Downtown Florence (10-minute drive), home to the FDTC Health-Science Campus, McLeod Regional Medical Center, and a vibrant array of restaurants and shops. The units are well-suited for both long-term unfurnished and short-term/mid-term furnished rentals, presenting a versatile investment opportunity. The asking price is $1,195,000. Occupancy is projected to remain at 100% until November 15, 2024.