​​​​​​$5,800,000.00

Simmons Cay Apartments & Townhomes

57 Simmonsville Rd.

Bluffton, SC  29910

(843) 815-3437

​88 Units Total


​PROPERTY NAME: Simmons Cay Apartments & Townhomes

PROPERTY ADDRESS: 57 Simmonsville Road Bluffton, SC 29910

NO. UNITS: 88 units

Total: 48 units at Simmons Cay Apartments & 40 units at Simmons Townhomes

YEAR CONSTRUCTED: 1997 & 2001

RENTABLE SQFT: 110,024 SF

AVERAGE UNIT SIZE: 1,250 SF

LAND AREA: 10.51 Acres

SITE DENSITY: 8.4 Units per Acre

ZONING: PUD NO. BUILDINGS 11 BUILDING STYLE: Townhome FLOOD ZONE: Both properties located in Zone X (outside the 100- and 500-yr floodplain)

CONSTRUCTION TYPE: Vinyl & brick over frame

FOUNDATION: Slab on Grade

ROOFS: Original roofs -- pitched / shingled

FLOORING: Vinyl & carpet HVAC: Central air conditioning and heat

ELECTRIC/UTILITY: Palmetto Electric - submetered - PAID BY TENANT WATER/SEWER: Beaufort-Jasper Water & Sewer - not submetered -

PAID BY OWNER TRASH: Coastal Waste - PAID BY OWNER

CABLE/PHONE: PAID BY TENANT

UNIT AMENITIES Washer/dryer connections, dishwashers, garbage disposals, balconies, walk-in closets (S. Cay) COMMON AMENITIES Clubhouse, pool, playground, fitness center, soccer field

NO. EMPLOYEES One (1) property manager, one (1) maintenance technician - both live on-site and receive free rent


​PROPERTY OVERVIEW


Simmons Cay Apartments and Townhomes is a 88-unit community located in Bluffton, South Carolina. Built as two contiguous properties in 1998 and 2002, the property consists of 11 residential buildings and a 3,500 square-foot clubhouse that is shared between both properties.


There are two floorplans, both three-bedroom, two-bath townhome styles, with an average unit size of 1,250 square feet. Units feature fully-equipped kitchens, including dishwashers and garbage disposals, washer and dryer connections, walk-in closets, and private patio/balconies.


Community amenities include a resident clubhouse, swimming pool and sundeck, fitness center, playground, and a soccer field. LOCATION


OVERVIEW Simmons Cay Apartments and Townhomes is situated in a middle-class suburban area just off Fording Island Road, a major road that connects Interstate-95 to Hilton Head Island. Located less than eight miles from Hilton Head Island and approximately 22 miles from Savannah, Georgia, the property offers residents convenient access to several major employers, shopping, dining, high-rated schools, medical facilities and major roads. Several major employers are nearby including Atlantic Personnel, Beaufort County School District, Beaufort Memorial Hospital, BI-LO Stores, Marine Corps Community Services, Marriott Resorts Hospitality Corporation, and the Department of Defense.


LIHTC RESTRICTIONS Both Simmons Cay Apartments and Simmons Townhomes operate under the Section 42 Low Income Housing Tax Credit (LIHTC) program. Placed in service in 1997, Simmons Cay Apartments consists of 48 units, with the initial compliance period expiring in December 2012. LIHTC restrictions at Simmons Cay require that 24 of the units be set aside for households at 50% or lower of Area Median Income (AMI), and the remaining 24 units be set aside for households at 60% or lower AMI.


Placed in service in 2001, Simmons Townhomes consists of 40 units, with the initial compliance period expiring in December 2016. LIHTC restrictions at Simmons Townhomes require that 26 units be set aside for households at 50% AMI, six units at 60% AMI and eight units at 80% AMI. The HOME loan covenants add an additional five years of restrictions for Simmons Cay and Simmons Townhomes, which expire in 2017 and 2021, respectively.





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Affordable Housing Solutions for Florida, Inc.

a 501(c)3 Housing Developer