Cayce Cove Apartments — Sale in Cayce, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Cayce, SC 29033

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Investment Figures

Cap rate
4.42%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Cayce Cove offers the opportunity to acquire a well-located, 2003-vintage student housing community and reposition it as a conventional, per-unit leased multifamily asset — capturing the meaningfully higher per-unit rents achieved by nearby conventional comparables. Properties within approximately 1.5 miles of the subject achieve rents ranging from approximately $1,582 for studios to more than $2,480 for two-bedroom units, and recent sales demonstrating strong investor demand for this product type in this location. The property's current by-bed leasing structure and 2BD/1BA and 4BR/2BA unit configuration reflect its legacy positioning; a buyer has the option to continue renting the 4BD units in-line with nearby 3BD units or converting some of those units to 3BD or 2BD/2BA units as part of the business plan. Existing electric and water submetering infrastructure supports resident utility billing under either operating model, providing an immediate, low-capex path to improved NOI regardless of which leasing strategy is ultimately pursued. The property benefits from a great location adjacent to the Three Rivers Greenway, providing residents with direct access to the scenic Cayce Riverwalk and its extensive network of paved walking, running, and biking trails. The community also offers convenient access to everyday necessities and popular dining and entertainment destinations, including Food Lion, CVS, Planet Fitness, East Bay Deli, Savage Craft Ale Works, and one block from Cayce River Arts District, enhancing the overall resident experience and lifestyle appeal. The Lexington County side of downtown Columbia has rapidly emerged as one of the area's premier live-work-play districts, featuring local restaurants, breweries, waterfront amenities, and newly developed Class A multifamily communities Investment Highlights: • Prime Student Housing Community Five Minutes from the University of South Carolina • Versatile 144-Unit, 480-Bed Multifamily Asset Located on 13.06 Acr

Market Context

This multifamily in Cayce, SC is listed for sale. It is offered at an approximate 4.4% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Cayce, SC — view the full market.

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