The Opportunity
32 units, under-rented and overdue for a rehab
Swan Lake is a 32-unit complex in Sumter, SC. We acquired it for $1,850,000 with a clear value-add plan: a full rehab, then a reset on rents.
We budgeted $583,000 for the rehab — new finishes, systems, and curb appeal across the property, unit by unit.
What We Did
A full rehab, now finished — lease-up underway
Acquired all 32 units for $1,850,000
Completed a $583K value-add rehab across the property
Construction is finished; lease-up at market rents is underway
Grown annual rents from $218K to $455K, roughly a 2× increase
Current value up to $3,595,000 against a $2.43M all-in basis
Took over day-to-day management in-house
The Result (So Far)
Rents nearly doubled, lease-up underway
The rehab is done. What's left is filling the building at the new market rents — already well on its way.
32
Units rehabbed
$455K
Annual rents ($218K → $455K)
$3.6M
Current value
$583K
Value-add rehab budget
Have a property that's underperforming?
Swan Lake started as 32 under-rented units in Sumter. If you own multifamily that isn't living up to its potential — or you want to invest alongside deals like this — let's talk.