Highland & Willow Place

Sumter, SC · 10 units · Bought at $45K/door from a mismanaging seller — below-market rents and heavy deferred maintenance. A $397K rehab (new roof, structural work) is driving a ~80% rent lift toward a $1.4M stabilized value.

The Opportunity

Deferred maintenance, and rents left on the table

Highland & Willow Place is a 10-unit complex in Sumter, SC. The previous owner was mismanaging the property — deferred maintenance had piled up, and rents were sitting well under market.

We bought it at $45,000 a door, with a clear plan: fix the building, then fix the rent roll.

What We Did

A value-add rehab, unit by unit

Acquired all 10 units at $45K/door — $450K total

Undertook a full value-add rehab, including a new roof and structural repairs

Budgeted roughly $397K for the rehab, structural work included — an all-in basis of $847K

Re-leasing units at full market rents as each renovation completes

Taking annual rents from ~$54K pre-acquisition to a stabilized pro-forma of ~$166K

Driving toward a ~$1.46M stabilized value — roughly $617K of projected value created

The Result (So Far)

A repositioning still underway

Highland & Willow Place is finishing construction — an $847K all-in basis repositioning toward a $1.46M stabilized value, with roughly $617K of projected value created.

$847K

All-in basis (10 units @ $45K/door)

$166K

Projected annual rents ($54K → $166K)

$1.46M

Projected value at stabilization

+$617K

Value created (projected)

5-year-hold pro-forma of $1,715,094 at a 7% cap rate — de-risked via refinance in Year 2, for a projected LP equity multiple of 3.54×.

Have a property that's underperforming?

Highland & Willow Place started as a mismanaged complex with rents well under market. If you own multifamily that isn't living up to its potential — or you want to invest alongside deals like this — let's talk.

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