Opis:

This property in America offering 11.4% gross annual income is a collection of newly refurbished apartments exclusively located in the South Carolina city of Gaffney with a secured income until 2020.

A minimum of 11.4% gross yield is provided due to this contracted income with Limestone College plus the additional returns anticipated from the on-site facilities. However, investors will benefit from an 8% underwritten income to at least January 1st 2020.

Situated just over a mile from Limestone College, this property is ideal for both university students and young professionals alike.

A 57 month tenancy agreement for the 2 bedroom apartments has already been secured with the College guaranteeing tenants up to May 2019.

Finding fame as the hometown of Frank Underwood, the lead character played by Kevin Spacey in the hit TV series House of Cards, the city of Gaffney has been catapulted into the spotlight.

The city is located 45 minutes from the financial hub of Charlotte, North Carolina (and its international airport) and 40 minutes from Greenville, South Carolina.

Gaffney is a desirable city in which to live with the real estate market on the up. According to the latest data from Zillow, Gaffney home values have increased by 5.1% in the last year (April 2013 - 2014) with the median value now $57,300.

At state level, South Carolina home values have risen 2.8% over the past year with a further 1.5% rise forecast within the next year (Zillow).

Gaffney is also the location of Limestone College. The now coeducational, arts college was established here in 1845 by English born scholars. Limestone College's total enrolment is now more than 3,500 students making it the largest private, regionally accredited institution in South Carolina as well as the third oldest.

With growing enrolment, students required to live on-campus if they are under 21 years of age or have fewer than 90 hours of college credit and limited properties available, this property presents the ideal accommodation option.

* Limited availability - only 23 newly refurbished apartments available
* Prices from 48,670 USD (-28,970 GBP) for a 442 sq ft 1 bed apartment
* Fully managed by local property management company
* A minimum of 11.4% gross yield for 2 bed apartments
* Contracted income 8% NET underwritten to 2020
* Completed and operational
* Larger than average student accommodation
* A minimum of 11.4% gross yield for 2 bed apartments
* Contracted income 8% NET underwritten to January 2020 - secured agreement with Limestone College already in place and operational
* Defined exit strategy option -
* Fully managed by local property management company
* Limited availability

Property Features

* Rooms

* Bathroom (s) 1

* Total bedroom(s) 1

* Surroundings

* Green areas

* Areas

* Gross Area 442.00 ft2