Central Oaks
Central Oaks is a 32-unit, 1985-built multifamily property in Summerville, South Carolina, a part of the Charleston MSA.
Location
The property is located in Summerville, SC, among the fastest growing suburbs within the Charleston MSA at the time of acquisition, about 30 minutes north of the historic Charleston peninsula.
Background
Matheson Capital acquired Central Oaks at an excellent below market basis, and after performing light renovations, was able to turn around and bring the property back to market and return investor capital along with a robust return after holding the property for just one year .
Business Plan
Matheson Capital will invest meaningful capital in the value-add renovations required to command market level rents currently being captured by other properties of similar vintage.
