Ridgewood Run

Chester, South Carolina, is a charming small town with deep historical roots and a strong sense of community. Located in the northern Midlands region of the state, Chester offers a peaceful setting defined by rolling landscapes, tree-lined streets, and a traditional downtown that reflects its longstanding heritage. Its location between larger cities provides residents and visitors with a quiet, small-town atmosphere while still offering convenient access to the broader region. Chester is known for its historic character, with beautiful older homes, churches, and buildings that speak to the town’s past. The community takes pride in its local traditions and landmarks, which help preserve the story of this South Carolina town through generations. Its slow pace and welcoming environment make it an appealing place for those who value connection, history, and hometown charm. With a strong appreciation for its past, Chester maintains a close-knit identity that is felt throughout the community. Local events, neighborhood pride, and a spirit of hospitality contribute to the town’s warm and inviting atmosphere. Chester also holds an important place in the region's history, particularly as a railroad town and agricultural center. These industries helped shape the area’s growth and identity, leaving a legacy still visible in the town’s architecture and community pride.Ridgewood Run offers investors the opportunity to acquire a substantially renovated, 75-unit multifamily community in Chester, South Carolina with multiple opportunities to grow NOI. The property consists of 74 two-bedroom, one-bath units approximately 715 square feet and 1 one-bedroom, one-bath unit at 500 square feet, with current rents averaging approximately $810 per month. New ownership can continue the existing unit renovation program and improve operations through active hands-on management by improving occupancy, collections, tenant retention, and overall operations. Current ownership has already completed significant capital improvements throughout the property. 16 of the property's 19 roofs were replaced in 2024, all building exteriors have been painted and improved, and numerous unit interiors have been renovated. 39/75 units currently renovated. Interior improvements have included new flooring, paint, cabinets, water heaters, fixtures and appliances, reducing near-term capital needs while leaving additional renovation upside for the next owner. One of Ridgewood Run's strongest advantages is its existing nonprofit property tax abatement with SAHA, which currently reduces real estate taxes to $0. The exemption was secured prior to the June 30, 2026 cutoff affecting most new applications, creating a significant operating advantage that is increasingly difficult for new buyers to replicate. SAHA has indicated that the preferred structure for preserving the abatement is an entity-purchase. Chester County also continues to attract major employers and new investment along the I-77 corridor. Since 2020, the county reports approximately $2.5 billion in new capital investment and more than 1,460 announced jobs. Recent growth includes IKO's new manufacturing facilities, which represent a $363 million investment and 180 jobs, along with additional industrial development throughout the county.