Hillcrest Apartments — Sale in Chester, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Chester, SC 29706

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Investment Figures

Cap rate
8.07%

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 Hillcrest Apartments, a 25-unit multifamily community located in Chester, South Carolina. The property is comprised entirely of two-bedroom, one-bathroom floorplans, delivering a uniform unit mix and consistent operating profile. Recent capital investment across the property includes 15 to 20 units fully renovated with new cabinets, countertops, tub trim kits, plumbing, vanities, light fixtures, paint, PTAC HVAC systems, and white appliances. All 25 units feature new flooring throughout and updated bathrooms, with cabinets and white appliances installed as needed on the remaining units. The property is served by copper electrical throughout with predominantly new PTAC HVAC systems. Chester, South Carolina sits along Interstate 77 as the southernmost county in the Charlotte Region, positioned between the Charlotte and Columbia metros and benefiting from Charlotte’s residential spillover moving south along I-77. Chester County recorded the fastest manufacturing employment growth in the metro Charlotte region, up about 70% from 2010 to 2020, and is now home to more than 50 manufacturers across multiple sectors. The local economy is anchored by Giti Tire’s $560 million North American headquarters (with a targeted 1,700 jobs), joined by Poly-America along the SC-9 corridor and served by the L&C Railway short line, which connects to both Norfolk Southern and CSX for competitive freight access. Investment Highlights: • Recent Renovation Program: 15-20 units fully renovated with new cabinets, countertops, PTAC HVAC, & white appliances; all 25 units feature new flooring & updated bathrooms. • Value-Add Runway: Remaining unrenovated units offer clear value-add through unit-by-unit renovation at turnover to match completed units. • Building Systems Investment: Copper electrical throughout with predominantly new PTAC HVAC systems, minimizing near-term systems capex. • Charlotte Spillover on I-77: Charlotte's residential growth is moving

Market Context

This multifamily in Chester, SC is listed for sale. It is offered at an approximate 8.1% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Chester, SC — view the full market.

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