SOLD

This 1974 garden style property is located in Columbia, SC, on Garners Ferry Road, a major south-east artery. It enjoys a highly accessible location with frontage on Garners Ferry, just minutes from I-77 (1.25 mi.). It is comprised of 280 units spread over 23 acres and that also includes a beautiful lake frontage with fishing rights. The new owners intend to complete a full deferred maintenance program including new roofs. Other improvements will include an interior upgrade package with new modern lighting, flooring, kitchen cabinets and black appliances that will take place in 2018 and 2019. In addition to improved management designed to limit excessive costs, a washer-dryer rental program will be put in place to create a new source of revenue. A large outdoor tenant amenity area will be built to include a new playground, barbeque/picnic area and pavilion with the goal of upgrading Lakeshore’s image to attract tenants and increase occupancy.

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The property benefits from an outstanding location, not far from downtown Columbia and close to Fort Jackson, one of the most important Army bases in the country with 50,000 soldiers graduating every year. Giant online retailer Amazon is already an important presence in the area with over 1,500 employees, and it recently announced the addition of 500 jobs. Columbia has historically outperformed the state average and is poised to continue to do so in the years to come.