Marion Street High Rise – 146 Units

Waterstone Multi-Housing Advisors is pleased to present Marion High Rise apartments located at 1930 Marion St in Columbia, SC. This property is currently owned by the Columbia Housing Authority and was once operated as a Senior Housing Facility but is currently vacant as they removed the tenants in anticipation of the future disposition. It consists of 146 units (85 efficiency units; 61 1-bedroom units) with units ranging from 600-750 square feet. This property will require a complete redevelopment/gut rehabilitation down to the studs. It will require all new plumbing and electrical to be installed. This property could be a golden opportunity for an investor looking to convert the property to Student housing due to its limited parking and prime centric location.

This property is located on the North East side of downtown Columbia. The property is 1 mile from the University of South Carolina; less than 2 miles from Five Points; and less than one mile from Segra Park (The home of the Columbia Fireflies – MLB minor league affiliate of the KC Royals).

Columbia is the capital of South Carolina and the state’s second largest city by population. Located in the central part of the state, the city is home to the University of South Carolina and Fort Jackson – the largest U.S. Army base for basic combat training. In addition, the diversified economy and job market in Columbia are driven by the healthcare, technologic, transportation/logistics, manufacturing and financial services.

Columbia has seen rental growth of 7.9% YOY with a 5-year projected population growth of 5.49% within 1 mile. Over 50% of households in Columbia are rented, which is why Columbia is one of the best rental markets in the country.

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