Howell Court Apartments — Sale in Columbia, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Columbia, SC 29203

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Investment Figures

Cap rate
8.32%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Howell Court Apartments, a 28-unit multifamily community located in Columbia, South Carolina. Originally built in 1965, the property is comprised of 11 buildings and offers 28 uniform two-bedroom units. Current ownership has invested $5,000 to $6,000 per unit in renovations since 2023, including updated flooring, kitchen cabinets, countertops, appliances, bathroom vanities, and modern fixtures throughout. The property continues to offer a defined runway for additional interior upgrades to capture further rental upside. Tenants are responsible for electricity, and water is billed back at a flat rate, minimizing operating expenses for a new owner. The broader Columbia MSA continues to benefit from sustained population and employment growth anchored by state government, the University of South Carolina, Fort Jackson, Prisma Health, Lexington Medical Center, Blue Cross Blue Shield of South Carolina, Michelin, Amazon, Dominion Energy, and Nephron Pharmaceuticals. Howell Court offers direct access to I-26, I-20, and I-77 with proximity to downtown Columbia and the region’s major employment centers. Investment Highlights: • Recent Renovation Program: $5,000 to $6,000 per unit invested in renovations since 2023 including flooring, kitchen cabinets, countertops, appliances, and vanities. • Efficient All 2BR Unit Mix: Uniform 28-unit all two-bedroom layout across 11 buildings supporting streamlined operations and simplified turnover. • Efficient Utility Structure: Tenants pay electric; water billed back at flat rate, minimizing operating expenses for a new owner. • Columbia MSA Employment Base: Anchored by state government, USC, Prisma Health, Fort Jackson, Blue Cross Blue Shield of South Carolina, and Michelin. • Interstate Crossroads: Columbia sits at the convergence of I-26, I-20, and I-77, providing central Southeast connectivity.

Market Context

This multifamily in Columbia, SC is listed for sale. It is offered at an approximate 8.3% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Columbia, SC — view the full market.

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