Listing Provided Courtesy Of:
Vacation Homes of Hilton Head, Inc
Address
120 Alex Patterson Place Hilton Head Island, SC
Price
$ 7,250,000
Property Attributes
  • MLS#402054
  • TypeCommercial
  • CountyBEAUFORT
  • CityHilton Head Island
  • AreaHilton Head Commercial
  • Zip29926
  • Style
  • Price$ 7,250,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size6,970 SqFt
Listing Provided Courtesy Of:
Vacation Homes of Hilton Head, Inc
Data Source:
Hilton Head
Property Description

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.

Price History
4/15/2020 Listed $7,250,000

General Features

MLS Area Hilton Head Commercial
Property Type Commercial Sale
Subdivision Name HRS OF ALEX PATTERSON S/D
Terms Cash, Conventional
Virtual Tour https://tour.hiltonheadmls.com/120-Alex-Patterson-PLACE-Hilton-Head-Island-SC-29926/unbranded
Virtual Tour https://tour.hiltonheadmls.com/120-Alex-Patterson-PLACE-Hilton-Head-Island-SC-29926

Exterior Features

Lot Size Acres 3.19
Lot Size Area 0.16

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 29926

Price
AVG $4.12M
$7.25M
Visits
AVG 37
51
Walkscore
AVG 27
23
Data Provided by Walkscore ® not using MLS data