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Property view

942 N Fifth St, 
Hartsville, SC 29550

$420,000


Bed


Bath


3,643

Sq Ft


Multi-Family

Sold

Listed by

Jonathan C Lee

Bought with Choice Realty, Inc.

Choice Realty, Inc.

843-991-4848

MLS#

20234147

Source:

SC RAGPD

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About This Home

942 N Fifth St

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.

Home Facts

Multi-Family

Built in 1952

Price Summary

499,000

$136 per Sq. Ft.

MLS #:

20234147

Sold:

April 12, 2024


Rooms & Interior

Interior

Living Area:

3,643 Sq. Ft.


Structure

Structure

Year Built:

1952


Lot

Lot Size (Sq. Ft):

19,166


Finances & Disclosures

Finances

Price:

$499,000

Price per Sq. Ft:

$136 per Sq. Ft.

Source:SC RAGPD
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