Woodbine Park Apartments — Sale in West Columbia, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: West Columbia, SC 29169

Photos

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Investment Figures

Cap rate
6.12%

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 Woodbine Park Apartments, a rare opportunity to acquire a 93-unit, all two-bedroom/one-bath townhome community in West Columbia, South Carolina — offered to market for the first time in 47 years. Woodbine Park presents a straightforward, low-execution-risk value-add opportunity: current in-place rents sit meaningfully below the surrounding 2-bedroom comp set, and a light interior renovation program paired with continued expense normalization can drive substantial NOI growth without requiring any change in leasing strategy or unit configuration. Woodbine Park consists entirely of 93 two-bedroom, one-bath townhome units averaging 950 SF, each with washer/dryer hookups. Ownership has already funded the property's near-term capital needs, installing all-new double-pane windows across the entire community and replacing approximately 90 HVAC systems over the past 24 months. The property is located along Platt Springs Road in Lexington County, roughly 2.5 miles from the Congaree Riverfront District and Three Rivers Greenway, and within a short drive of Downtown Columbia, the State Street entertainment district, and a wide range of retail and dining. Comparable 2-bedroom product in the immediate submarket is achieving average rents of approximately $1,167/unit ($1.31/SF) against Woodbine Park's current $883/unit ($0.93/SF) — a gap of roughly $284/unit, or approximately 32%. The Year 1 pro forma conservatively targets $1,150/unit — below the comp average — leaving meaningful further upside for a buyer willing to push rents toward full market as units turn and the interior refresh program is completed. Investment Highlights: • Immediate Rent Upside: In-place rents of $883/unit sit well below the $1,167/unit comp average for 2-bedroom product in the immediate submarket, with the Year 1 pro forma conservatively targeting $1,1 • Recent Capital Investment: All 93 units received new double-pane windows, and approximately 90 units received

Market Context

This multifamily in West Columbia, SC is listed for sale. It is offered at an approximate 6.1% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in West Columbia, SC — view the full market.

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