12 Home BFR Investment Portfolio Summerville SC

Listing was updated at: 04/23/2020
Property Overview
Price/Rent PSF $ 2,433,333.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 14,692
Date Available 01/23/2019
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South Carolina, also known as the Palmetto State, is the 40th most extensive and 23rd most populous US State. The GDP as of 2013 was $183.6 billion, with a steady annual growth rate of 3.13%. The United States Census Bureau estimates that the population of South Carolina was 5,024,369 on July 1, 2017, an 8.6 percent increase since the 2010 census. South Carolina is known for its 187 miles of coastline, beautiful lush gardens, historic sites and Southern plantations. Major agricultural outputs of the state are tobacco, poultry, cotton, cattle, dairy products, soybeans, hay, rice, and swine. Other major industrial outputs include textile goods, chemical products, paper products, machinery, automobiles, automotive products, and tourism. There are 1,950 foreign-owned firms operating in South Carolina employing almost 135,000 people. Foreign Direct Investment brought $1.06 billion to the state economy in 2010. The state has the fourth largest state-maintained road system in the country, consisting of 11 Interstates, state highways, and secondary roads, totalling approximately 41,500 miles.

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This Build for Rent (BFR) investment opportunity gives a buyer the ability to acquire 12 existing or about to be completed homes in the established community of Carrington Chase at Lakes of Summerville, a short distance outside of Charleston, South Carolina, in the town of Summerville. The seller is an extremely experienced and qualified builder and will be able to deliver the homes on schedule. Carrington Chase is located within the Dorchester II school district.

Less than 25 miles outside Charleston, Carrington Chase is an easy drive into Charleston to experience the Southern Charm and cultural amenities the town has to offer. The Charleston MSA had a Gross Regional Product of $38.776 Billion and a population of 761,000 people. The population has been growing at 16.7%. The key industries in the area include aerospace, automotive, IT and defense, and life sciences. Unemployment in the MSA was a mere 3.0% in July 2018.

The homes being offered will be completed by mid-November 2018. The floorplans include a 3-bedroom, 2-bathroom 1,052 square foot home, two versions of a 3-bedroom, 2-bathroom 1,246 square foot home, a 1,279 square foot 3-bedroom, 2-bathroom home, and a 1,663 square foot 3-bedroom, 2.5-bathroom home.