The Landing – 48 Units

CONTACTS

Joshua Scango 704-668-6361

Waterstone Multi-Family Group is pleased to present a 48 unit apartment complex in Conway, SC. The property consists of 48 two bed/two bath units in 12 buildings on 10 acres of wooded land. It’s located next to a private airport with very low traffic.  The property was previously underperforming and mismanaged up until the beginning of 2019. With new management, the property is on it’s way to becoming a thriving community. Under previous management rents were averaging $550.

In March ’19 all tenants who were interested in staying were offered a 12 month lease at a discounted rate of $725. Thirteen tenants agreed to stay and the remaining 35 units were vacated for rehab which has been completed. The newly rehabbed units are being marketed at $795. This property is currently 100% occupied with an average rent of $776.  Recent capital improvements include newly paved roads and new exterior lighting throughout.  This is a strong Value-Add opportunity with proven rental increases to  capitalize on.

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Other

  • Address: 1901 Airport Road Conway, South Carolina 
  • Area: Conway 
  • Number of Units: 48 
  • Year Built: 1986 
  • Acres: 10.34