2491 Russell Street

Description

Attention Investors! Rare Turnkey 8-Unit Cash-Flowing property near two Universities. Opportunities like this are hard to find. Property is ideally positioned on the main entrance from I-26 into up and coming Orangeburg, and within walking distance to both South Carolina State University and Claflin University - a prime rental location. Offered at just $78,625 per unit, this fully occupied 8-unit complex generates an impressive $74,640 in GROSS ANNUAL RENT. The 5,652-sqft building underwent a major interior/exterior renovation just three years ago and is in high demand among tenants. In addition, the spacious 0.87-acre lot offers additional land for expansion of another building on the western portion of the property. The complex includes seven 2-bedroom/1-bath units and one 1-bedroom/1-bath unit. Tenants also enjoy 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, strong rental income, and future development potential, this property is an outstanding addition to any investment portfolio.