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942 N Fifth St Hartsville, SC 29550
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Key Details
Sold Price $420,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Approx. Sqft 19166.4
Square Footage 3,643 sqft
Price per Sqft $115
Subdivision City
MLS Listing ID 20234147
Sold Date 04/12/24
Year Built 1952
Lot Size 0.440 Acres
Property Description
Investors! Rare Opportunity for a Commercial Income-Generating Lakefront Property! Nestled on the corner of Lakeview Blvd and N. 5th St in charming Hartsville, SC, this motel is currently undergoing a rejuvenating facelift, poised to emerge as a strong income generator. The property’s prime location offers a picturesque view of the lake, providing a tranquil setting for guests. Under the renovation, this motel is being transformed into a modern and inviting retreat, ensuring a comfortable stay. The revamped interiors boast contemporary designs and amenities, ideal for both leisure and business travelers. The strategic corner location enhances visibility, making it an attractive choice and is easily accessible to Sonoco and Coker University. Two years ago, prior to any renovations, the property was generating just over $125,000 annually. Renovations include new RFID door locks, new windows throughout, new flooring, new paint, new case goods (dressers, beds, nightstands, lamps, flat-screen TVs), new countertops, sinks, fridge/freezer, microwaves, all new bathrooms. All that remains is exterior cosmetics! There are 9 1-BR units and 3 2-BR units. Keep as a motel or convert to multifamily. Now is the time to come swoop these up at this bargain basement price. Using a conservative average daily rate of $55 with a conservative 70% occupancy will produce $168,000 annually. All case goods convey in sale. Please give 24 hours to schedule an appointment to come see the rooms. This is the only B-2 zoned (commercial zoning) lot actively on the market on Prestwood Lake.
Location
State SC
County Darlington
Area Hartsville
Interior
Heating Base Electric
Cooling Window Unit(s)
Fireplace No
Exterior
Garage Off Street
Roof Type Composite Shingle
Garage No
Building
Story 1
Water Public
Schools
Elementary Schools N. Hartsville
Middle Schools Hartsville
High Schools Hartsville
School District Hartsville
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Bought with Choice Realty, Inc.