Summary
Ovation @ 3500 is a 226-unit Ovation @ 3500 apartment community located in Columbia, SC. The property is strategically located in the St. Andrew’s neighborhood within Lexington County, characterized by steady employment industries of medical, education, and government, highly coveted school district, strong projected rent growth of 15% (as of 2022).
PROPERTY OVERVIEW
– 226 Units
– Purchase Price: $21.8MM
– Year of Construction: 1970
– Class C Property
BUSINESS PLAN
– Renovate 188 classic units to higher standards
– Repaint the entire exterior of the property to bring a fresh, new modern look to the community
– Fix numerous deferred maintenance items, trim overgrown trees, and drastically improve the curb appeal of the property