Projected IRR
20%
Projected Hold
2 Year
Year Acquired
2023
Located in the Columbia, SC metropolitan area, the Lexington Grand Apartments is a 64-unit complex that offers great return potential for our investors. Built in 2010, this affordable housing complex is a mix of large 2BR/2Bath and 3BR/2Bath units that have a wide range of amenities (dishwasher, microwaves, stove, kitchen area, LVP flooring, etc).
Purchased in October of 2023 at an amazing cost basis of $71K/door, this affordable housing complex had average rents around $770 per unit at purchase with the ability to easily increase to closer to $900 per unit in quick fashion. The property also came with excellent assumable financing terms (1% rate with deferred payments) which allows for both regular cash flow and fast equity gains.
741 Merritt Capital Dr. Ste 104
Wake Forest, NC 27587
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