Quail Run Apartments is a 332 unit garden apartment community originally developed in 1972. The property features a low density wooded park like setting, lake with fountain water feature, lighted tennis courts, fitness facility, pools, and picnic area. Units include washer/dryer connections, patios/balconies, fully equipped kitchens, ceiling fans, french doors, and large units averaging over 1200 square feet.
Quail Run is located in Columbia’s northeast pocket of affluence where household incomes are relatively high and home values are among the highest in Columbia. Also, directly east of Quail Run is Fort Jackson, the U.S. Army’s largest and most active initial training center, training more than 67,000 soldiers annually. The University of South Carolina is located 5 miles from Quail Run.
The property was purchased from the REO portfolio of a large national lender. The property had suffered from deferred maintenance, tenant neglect and low occupancy as it worked through the foreclosure process. The lender improved occupancy upon takeover and we will immediately embark on a program to complete curing of deferred maintenance, upgrade units, and improve the rent roll. Upon stabilization, the property will be financed and held in portfolio for long term cash flow and appreciation.