|Price/Rent PSF||$ 9,712,200.00|
|SQ. FT. Available||73,128|
South Carolina, known as the Palmetto State, is the 23rd most populous U.S. state. According to the U.S. Census Bureau, the South Carolina population estimate is 4.9 million. Thanks to South Carolina’s warm climate, beautiful beaches, and numerous golf courses, this growth spurt has taken off without any hindrances.
The state has also become a retirement mecca, attracting retirees and second-home owners with its relative affordability. Manufacturing also contributes significantly to South Carolina’s economy, as the state is home to more than 100 aerospace and aviation companies, including Boeing, who produces its Dreamliner here, as well as over 250 automotive companies. South Carolina’s tourism industry has blossomed in recent years, with Charleston, Hilton Head and Myrtle Beach all considered top East Coast vacation towns. The state is known for its family-friendly and affordable beaches, warm weather and hundreds of golf courses.
Beaufort is a city on Port Royal Island, one of South Carolina’s coastal Sea Islands. Just five miles from Beaufort is the Marine Corps Recruit Depot Parris Island, an 8,095-acre military installation used for the training of enlisted Marines.
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This Build for Rent (BFR) investment portfolio allows a buyer the opportunity to work with an extremely qualified regional builder to acquire 58+/- to-be-built townhomes. Beaufort is the county seat of Beaufort County South Carolina. The city is in the heart of the Sea Islands and the South Carolina Lowcountry. It is known for its history, antebellum architecture, and the military installations of Parris Island, a U.S. Naval Hospital, and is home to the Marine Corps Air Station Beaufort. The city is frequently ranked highly as a top small southern town.
The Hilton Head Island – Beaufort SC MSA has an unemployment rate of 3% as of September 2018, which has been declining since 2009. The MSA had an estimated population of 178,990 in 2010, and that is expected to grow to 244,270 by 2030. The median household income is $55,556.
Many of the soldiers living on base prefer to live off base and are entitled to a stipend to pay for housing. Each base is required to contract with a civilian company to provide transition services, ie, find housing, for those stationed at the base. The average length of a service member’s tour is 3 years and the average length of tenancy in a house is 28.8 months.
The seller is extremely qualified and will be able to build out to an agreed upon schedule to allow consistent capital placement. The Seller operates across multiple MSAs to allow a buyer to engage with one builder to acquire a diversified portfolio. This portfolio will allow an investor to efficiently control ongoing capital expenditures because the homes will be new, built to a high standard, and be under warranty. This opportunity represents the remaining portion of the Azalea Square community. There are 11 floor plans being constructed. The homes range in size from 1,031 square feet to 1,604 square feet. The majority of floor plans are 2-bedroom with between 1.5 and 2.5-bathrooms. The remaining homes are 3-bedroom with 2.5-bathrooms.
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