913 Prestwood Dr, Hartsville, SC 29550

Property Description

NOI just increased another $6000 with rent increases, now offered at over a 10% Cap Rate. Lakeshore Arms Apartments is a well-maintained, income-producing multifamily property consisting of one building with 8 fully furnished and equipped 1-bedroom/1-bath units. The sale includes all FF&E and personal property necessary for a true turnkey short-term or flexible-term rental operation, including appliances, beds, flat-screen TVs, furnishings, linens, décor, kitchenware, and smallwares. This proven revenue producer generates over $134,000 in gross annual income. Additional financial and operational details available upon request. The property offers room to increase rents by an estimated 20-30%. This investment is ideal for both new and seasoned investors and a great way to get into the lucrative short-term rental investment business. Owner is a licensed real estate agent. The property has historically attracted a strong, diverse, and repeat tenant base. Lakeshore Arms is located in a quiet, highly coveted Prestwood neighborhood, directly across from Prestwood Lake, adjacent to a well-recognized Montessori school, and just 2 minutes drive from Hartsville’s thriving downtown with restaurants and shopping. With very limited short-term rental inventory in Hartsville where most rentals are unfurnished and leased on one-year terms, this furnished, flexible-term property is uniquely positioned to capture unmet demand and deliver strong, reliable income. ****UPDATE****: New rents are at $1550 and $1700. Plug $1650 into your Proformas.