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  • Price$7,250,000
  • Acres0.16

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.

Essential Information

  • MLS® #402054
  • Price$7,250,000
  • Bathrooms0.00
  • Acres0.16
  • TypeCommercial Sale
  • StatusActive

Additional Information

  • Days on Market57

Community Information

  • Address120 Alex Patterson Place
  • AreaHilton Head Commercial
  • CityHilton Head Island
  • CountyBeaufort
  • StateSC
  • Zip Code29926

Listing Details

  • Courtesy of Vacation Homes of Hilton Head, Inc
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