120 Alex Patterson Place, Hilton Head Island

$7,250,000

0 Beds
0 Baths
0 Sqft
.16 Acres
0 Garages

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.

Essential Information
MLS #402054
Price$7,250,000
Bathrooms0.00
Acres0.16
TypeCommercial Sale
StatusActive
Community Information
Address120 Alex Patterson Place
AreaHilton Head Commercial
CityHilton Head Island
CountyBeaufort
StateSC
Zip Code29926
Additional Information
Days on Market229
Courtesy of

Vacation Homes of Hilton Head, Inc

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