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Troy Phillips

tphillips@carolinaone.com +1(843) 268-4025

Listed by Gatehouse Realty, LLC

$250,000

Est. payment - /mo

6 Beds

5,650 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type More than 4

Listing Status Active

Purchase Type For Sale

Square Footage 5,650 sqft

Price per Sqft $44

Subdivision Wilkinson Heights

MLS Listing ID 26023327

Bedrooms 6

HOA Y/N No

Year Built 1974

Lot Size 0.870 Acres

Acres 0.87

Property Sub-Type More than 4

Property Description

Attention Investors! Rare 8-Unit building near two Universities. Property is ideally positioned on the main entrance from I-26 into up and coming Orangeburg. Within walking distance to both South Carolina State University and Claflin University - a prime rental location. A fire occurred in May of this year in one of the upstairs units. Building is in need of repair and currently vacant and not habitable. The property is priced accordingly and sold ''As is''. Please do not enter any of the units or walk the stairs of the building. Previous to the fire the building was fully occupied with a gross rent of $74,640 and a wait list of tenants queued to rent. The 5,652-sqft building underwent a major interior/exterior renovation three years ago prior to the fire. The lot is spacious at 0.87 of anacre and located on the main road Russell Street leading into downtown Orangeburg. The complex includes seven 2-bedroom/1-bath units and one 1-bedroom /1-bath unit. There is also ample parking plus a covered carport. This property also positions itself in the path of progress. Orangeburg is undergoing some major transformations, with substantial funding directed toward community and infrastructure improvements. Recent and ongoing projects include a brand-new City Hall and Library/Conference Center on Russell Street, the newly completed, state of the art Orangeburg Wilkinson High School, and new county courthouse scheduled to break ground this year. These developments are helping drive economic activity, employment, and long-term area stability all positive indicators for real estate investors. Adding to the upside, South Carolina State University has experienced a 33% increase in enrollment over the past five years, creating a notable housing shortage. This surge presents a strategic opportunity for investors to operate the property as dedicated student housing, where demand continues to outpace supply. With its high-visibility location next to universities, and strong rental income potential, this property with some work would be a great addition to any investment portfolio.

Location

State SC

County Orangeburg

Area 83 - Org - Orangeburg County

Interior

Interior Features Ceiling Fan(s)

Heating Wall Unit(s)

Exterior

Parking Features Other

Utilities Available City of Orangeburg

Roof Type Architectural

Building

Dwelling Type More than 4

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

Structure Type Brick,Vinyl Siding

New Construction No

Schools

Elementary Schools Whittaker Elementary School

Middle Schools Robert E. Howard Middle

High Schools Orangeburg-Wilkinson High School

Others

Acceptable Financing Cash

Listing Terms Cash

Financing Cash

Special Listing Condition Handy Man Special

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Nearby School & Business

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Troy Phillips

+1(843) 268-4025

Agent | License ID: 50014

Agent License ID: 50014

2491 Russell St Orangeburg, SC 29115

Troy Phillips

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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