Gleneagle Apartments — Sale in Columbia, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Columbia, SC 29210

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Investment Figures

Cap rate
7.34%

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

Marcus & Millichap is pleased to present Gleneagle Apartments, a 204-unit garden and townhome community on 15.89 acres at 601 St Andrews Rd in Columbia, South Carolina. Built in 1973 across 22 two-story buildings, Gleneagle offers one, two, and three bedroom floor plans averaging 1,124 square feet, among the largest in the submarket, including 60 two-story townhome layouts that are rarely available in the area's rental stock. The offering combines in-place cash flow with a de-risked path to upside. A three-tier interior program has been proven across two ownerships: 149 units (73%) carry Renovated finishes, a 4-unit Deluxe tier sets the top of the market, and 51 Classic units (25%) remain, offering new ownership the opportunity to complete an established program at documented premiums rather than pioneer a new one. The operating profile is streamlined as well: a resident flat fee program recovers water, sewer, trash, and pest control costs, while electricity is paid directly to Dominion by residents. Columbia, South Carolina's capital city, offers a deep and stable employment base anchored by state government, the University of South Carolina, Fort Jackson, Prisma Health, and Lexington Medical Center, with major employers including Blue Cross Blue Shield of South Carolina, Michelin, Amazon, Dominion Energy, and Nephron Pharmaceuticals across the metro. Gleneagle sits in the St. Andrews corridor approximately 5 miles northwest of Downtown Columbia with direct access to I-26, placing residents minutes from the corridor's retail and grocery anchors and providing convenient access to I-20 and I-77. Investment Highlights: • Proven Renovation Program: 149 of 204 units renovated across two ownerships. 51 Classic units remain, offering the opportunity to finish an established program at documented premiums. • Three-Tier Interior Program: The Building 26 restoration established a 4-unit Deluxe tier with smooth ceilings and electric fireplaces, a proven next rung above the R

Market Context

This multifamily in Columbia, SC is listed for sale. It is offered at an approximate 7.3% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Columbia, SC — view the full market.

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