All Forum Posts by: Jonathan Kessler

100 units off market. Tertiary but strong market in SC. Proven value add. In place NOI of a 7.5 Cap. T3 will show stronger when it goes to market. 42k a door. Email me [email protected] for questions, CA and numbers. No need to reply here.

We broker multi family in Greenville. We have too many buyers and not enough inventory at the moment. You can email me. It wont allow me to post my email. It is listed on my profile though, my phone number is there as well. Just let me know what you're looking for. 

Off Market will go on market in less than a month. Properties close drive to Charlotte or Greenville.   Email [email protected]

• Conveniently located on and around Riverview Road in Rock Hill, SC just off I-77 and the Celanese and Cherry Rd main retail corridors.
• Several of the properties are contiguous and/or within 1 mile of central property. One complex with 4 condos, Eagle’s Landing, is just outside this radius (2.5 miles).
• High demand rental market (45% of population are renters) with increasing rents and 3% total market vacancy.
• Portfolio can be combined many different ways great for accommodating a 1031. Any combination from 4 to 47 units and $300 up to $3mm.
• Formerly ran as MTM all-inclusive rentals with $30-42/daily rates. In process of transitioning to conventional market rate.
• Blended Pro-Forma 9% cap rate combined.
• Individual properties range from 8-9.5% cap rate.
• Conservative recent appraisals totaling $3,060,000.

Email [email protected]

Please clink link Below for information. Email [email protected] for questions

Storage Facility Link

Off market multi family in Rock Hill. Can be purchased individually or as a bundle.  Have additional units not posted on this page as well as a handful of condos near by run the same way. email [email protected] for details, additional properties and numbers. No need to reply to this. Email for questions. Please do not disturb property management or tenants. 

• Diplomat Studios located on Riverview Road in Rock Hill, SC
• 1 Building totaling 16 studio apartments
• $945,000 ($59,000/unit)
• 9.5% cap at $725/mo rents
• Market rent is $775-800/mo with tenants paying own utilities. Formerly rented as all-inclusive MTM at $900/mo ($30/day).
• Conveniently located on Riverview Road in Rock Hill, SC just off I-77 and the Celanese and Cherry Rd main retail corridors. High demand rental market with increasing rents and 3% total market vacancy.

Monthly Potential	$11,600
Annual GPR	$139,200
Vacancy (1 unit)	$8,700
Rental Income	$130,500
Management (8%)	$10,440
Taxes	$12,800
Insurance	$2,400
Grounds	$2,400
Repairs/ Supplies	$9,600
Admin/ Misc	$3,000
Total Expenses	$40,640
NOI	$89,860
9.5% Cap	$945,000

Riverview

• Riverview Studios located on Riverview Road in Rock Hill, SC
• 3 Quads totaling 12 large studio apartments
• $750,000 ($250,000/quad, $62,500/unit)
• 9.5% cap at $800/mo rents
• Market rent is $850-900/mo with tenants paying own utilities. Formerly rented as all-inclusive MTM at $900/mo ($30/day).
• Contiguous to The Diplomat studios (16 units also available).
• Conveniently located on Riverview Road in Rock Hill, SC just off I-77 and the Celanese and Cherry Rd main retail corridors.
• High demand rental market (45% of population are renters) with increasing market rents and limited supply (3% total market vacancy).

Monthly Potential	$9,600
Annual GPR	$115,200
Vacancy (1 unit)	$9,600
Rental Income	$105,600
Management	$8,448
Taxes	$11,127
Insurance	$2,400
Grounds	$2,400
Repairs/ Supplies	$7,800
Admin/ Misc	$2,100
Total Expenses	$34,275
NOI	$71,325
9.5% Cap	$750,000

Paul Walker in Walterboro, little further out from Bluffton

Email [email protected] for questions

Off Market self storage facility

Cash  flowing Value Add Investment Opportunity in Greer, SC.

110 Self storage units approximately 95-100% occupied with room to improve rents and occupancy. No additional land available. 

Included in the sale is a nice SF Home that could be rented for additional income or used for live on site manager/ owner 

NOI 79,000

Asking price 1,050,000 

7.5 Cap

Partial Owner financing is a possibility. 

Please see projections below of a 1,000,000 purchase

Two off market properties in the upstate. This is the same post from yesterday but has been edited because of a mislabeling of the properties. If interested, please contact [email protected]. This is the best way to reach me. We also have an off market cash flow storage facility with rental upside but no additional land. 

Again for financials, questions, property tours or to be added to our email database please email [email protected]

 Greenville, SC

• 43 units all 1bd/1ba, 9 single story buildings built in 2008
• 100% occupied with new rents ranging from $550-575 (depending on turn upgrades)
• Low maintenance, newer product, high rental demand (100% w/ waiting list)
• $1,540,000 assumable Freddie SBL loan, 4.85% interest, 10yr term (first 3yrs I/O) beginning Sept 2016, P&I payments begin November 2019
• Annualized NOI $171,500, I/O debt service $$74,690, P&I debt service $97,517.40
• 7% cap value $2,450,000 ($56,976/unit)

Anderson, SC

32 units all 2bd/1ba, 4 two story buildings built in 2004, 10 garage/ storage units also

Currently 100% pre-leased with waiting list, new rents are $650, lower in place so value add opportunity

Low maintenance all brick construction

$1,275,000 assumable Freddie SBL loan, 4.85% interest, 10yr term (first 3yrs I/O) beginning Sept 2016, P&I payments begin November 2019

Proforma NOI $140,000 (@ $600 average rent), I/O debt service $61,837.50, P&I debt service $80,736.84

$1,750,000 ($54,687.50/unit) Pro-forma* 8% cap

Summary

• Combined $4,200,000 Asking Price with $2,815,000 existing debt to be assumed
• 75 Units, 10 Garage/storage units, 2004 and 2008 construction
• In place NOI +/- $294k (7% cap) Pro-Forma NOI $315k (+/- 7.5% cap)
• 67% LTV at Asking Price, combined I/O $136,528, P&I $178,254 (begins 11/2019)
• 1% assumption fee will be credited to buyer upon successful closing/ loan assumptions

Again for financials, questions, property tours or to be added to our email database please email [email protected]

*South Carolina requires you to be given notice that there is a principal/ owner that is licensed in the state of South Carolina in these ownership entities.

send me a message I have a few in the upstate around that size at better cap

12 well maintained units built in 2003

Conveniently located in Liberty, SC

100% Occupied Property

Individually metered Tenants pay all utilities

Close proximity to employment and retail (Clemson, Easley and Greenville)

Slab Foundation

$540,000

Please call or email [email protected] with questions.