Multi-Family Space For Lease @ 3 Nancy Ln Se

Greenbriar apartments is a 64 unit apartment complex located in the heart of Aiken, SC. All units are approximately 950 square foot and feature 2 bedrooms and 1 bath. Site has 8 buildings of 8 units each and has a swimming pool and clubhouse for an amenity. All units are flats with no townhouse units. One building was built 100% brand new in 2017 after a fire. Rental rates are substantially lower than market rates causing the complex to stay 100% full with 100% collections. Turnover and delinquency are rare. Currently rents range from $575 to $725. A recent market survey revealed little to no units under $1,000 per month in the same area. Tenants pay a charge for renters insurance which management handles direct but tenants pay no reimbursement for water usage. Tenants pay electric. The value-add play here is to increase rents immediately to over $800 with a slight amount of turnover expected. Minor upgrades to units are recommended to be able to generate $900+ rent levels on units that experience turnover. The site is 4.59 acres and has one section that one more building could potentially be added to per the city zoning department. No plans or drawings were ever submitted for a building there but there is enough room for one more building. This space offers accomodations for: lowrisegarden.