Wyndham Place – 48 Units

REAL INSIGHT AUCTION: DECEMBER 7-9

CONTACTS

Brent Kubitschek 919-429-9694

John Bergin 704-804-3342

Waterstone Multi-Family Group is pleased to present the Wyndham Place Apartments, a 48-unit complex located in Florence, SC. The property includes eleven buildings, consisting entirely of 2-bedroom 1-bathroom units. Extensive renovations have been executed at Wyndham Place with over $864,000 spent on CapEx upgrades in the past several years (see CapEx summary attachment) including:

  • New Roofs
  • HVAC’s
  • Exterior Painting
  • Windows
  • Full Unit-turns & interior-rehabs

Wyndham Place is centrally located off the main East/West thoroughfare just blocks from downtown Florence central business district and minutes from the headquarters district for GE Healthcare ($40MM facility expansion in 2016), Patheon (new $70MM facility), Honda ($45MM facility expansion project in 2016), and others.

This property offers a new owner the opportunity to install additional washer/dryer units in the laundry area and capture the resulting free cash flows. New owner will also have the opportunity to raise rents $25 to $50 or more (current owner has already begun raising rents) along with a waiting list for new available units of 68 prospective tenants.

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Other

  • Address: 805 West Darlington Street Florence, South Carolina 
  • Area: Florence 
  • Number of Units: 48 
  • Year Built: 1950 
  • Acres: 4.05