This investment property consists of 14-single family four bedroom/four bath homes built in 2019. The property includes 6-additional lots that are suited to build homes that are the similar size as the pre-existing homes in the community. This property is 100% occupied with long term rental contracts with local hotels & resorts that house their workforce. Cap Rate currently is 6.7% with a full purchase price. The remaining lots can be built on to help meet the high demand of workforce housing. Cap Rate would be 8.25% if project was built and leased with the same business model already in place.
We do not attempt to independently verify the currency, completeness, accuracy or authenticity of the data contained herein. It may be subject to transcription and transmission errors. Accordingly, the data is provided on an "as is," "as available" basis only and may not reflect all real estate activity in the market. © 2021 Multiple Listing Service of Hilton Head Island, Inc. All rights reserved. Certain information contained herein is derived from information which is the licensed property of, and copyrighted by, Multiple Listing Service of Hilton Head Island, Inc.