1602 McNeil Street
About this property
Waterstone Multi-Housing Advisors is pleased to present Sunflower Place Apartments; a 76 unit Garden style complex that was built in 1969 and renovated in 2019. The property is located in Dillon, South Carolina. Dillon, is located directly off I-95 between Lumberton, NC and Florence, SC. This area includes multiple manufacturing employers such as Purdue, Harbor Freight and Wyman-Gordan. The latest economic development was the recent opening of Inland Port Dillon, which has generated thousands of jobs and will continue to benefit the growth of this region.
Sunflower Place Apartments is a recently stabilized property with a Value-Add component still in place. Since renovations began, 68 out of 76 units have been fully renovated in which current ownership has invested over $800,000 in Capital Expenditures. The renovations include updated kitchens and bathrooms as well as updated electrical and plumbing repairs. All of the windows and HVAC’s have been replaced. They have also remodeled the laundry facility. Within the previous 5 years, all of the roofs have been replaced along with new sealing of the parking lots.
This property offers a wide variety of spacious units to its tenants which include 1-, 2-, 3- and 4-bedroom units. This property is also located in an Opportunity Zone. One benefit the future owner will have is the recent implementation of RUBS. This includes an additional $36,480 in additional Expected Income ($30/month for water & sewer; $10/month for trash).
- 68/76 units fully renovated
- New kitchens, bathrooms, vinyl plank flooring
- Remodeled laundry room
- New windows
- New roofs
- New plumbing and electrical
- New HVAC units