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120 Alex Patterson Place, Hilton Head Island
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.
- MLS® #402054
- TypeCommercial Sale
- Days on Market48
- Address120 Alex Patterson Place
- AreaHilton Head Commercial
- CityHilton Head Island
- Zip Code29926
- Legal AddressHRS OF ALEX PATTERSON S/D
- Courtesy of Vacation Homes of Hilton Head, Inc
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