1659 Legrand Rd, Columbia, SC 29223 For Sale

Marcus & Millichap is pleased to present Keystone Luxury Apartments, a newly delivered 2025/2026-built, 64-unit boutique multifamily community situated on 3.88 acres in Columbia, South Carolina. The offering also includes the opportunity to acquire a contiguous 10.52-acre development parcel, available together with the existing asset or separately. The adjacent parcel is zoned R6, allowing for high-intensity residential development of up to 18 units per acre and providing investors with a rare expansion opportunity.

Keystone features high-quality construction with a desirable mix of spacious two-bedroom, two-bath apartment homes and premium three-bedroom, two-and-a-half-bath townhomes with attached garages. Units average approximately 1,300 to 1,600 square feet and showcase modern finishes including granite countertops, stainless steel appliances, luxury vinyl plank flooring, large kitchen islands, walk-in closets, and private balconies or patios. The townhome-style layouts and generous floor plans position the property competitively within the market and support strong rental demand.

Currently self-managed by the developer, ownership pays for water, though each unit is individually submetered with a Wi-Fi tracking system. The property presents operational upside through the implementation of professional third-party management and the introduction of utility bill-backs for water, sewer, cable, internet, and Wi-Fi. Additional ancillary income opportunities such as EV charging stations and premium tenant services provide further revenue potential, while an onsite leasing office supports efficient operations.

The adjacent 10.52-acre parcel presents a compelling zoned expansion opportunity and may be acquired together with the existing 64 units or independently (Buyer has opportunity to purchase the exisiting 64 units without the development parcel). This structure allows investors to capitalize on existing infrastructure and strong market fundamentals while maintaining flexibility in their overall investment strategy. Keystone Luxury Apartments offers the opportunity to acquire a newly constructed multifamily community with significant future development potential in the growing Columbia market.