14 Unit Multifamily Opportunity in North Charleston

Multi-Family for Sale
Catylist Listing ID: 30392825
Property Subtypes: Duplex/Fourplex
Number of Units: 14 Units
Building Size (RSF): 10,996 SF
Gross Building Area: See Agent
Sale Price: $1,150,000
Unit Price: $82,142.86 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.85%
Last Updated: 3/12/2019

Overview / Comments

Great opportunity to purchase 14 total units with 5 duplexes in a row on Flora Street and one quadplex located in "The Neck." Listed at just under an 8 CAP, these properties have remained occupied with room to grow even at the current rental rates. The 5 duplexes on Flora have rental rates from $500-$750/mo and the quadplex rent rates are $750/door. 2053 Marsia is (4) 2BR/1BA units. Flora is comprised of (2) 3BR/2BA units, (7) 2BR/1BA units, and (1) 1BR/1BA unit. Current NOI projection is attached in the marketing packed. Opportunities such as this don't come around often!

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Tax ID/APN: 472-11-00-023
Percent Occupied: 100%
Property Condition: Good
Year Built: 1967
Construction/Siding: Block
Parking Type: Other
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,756 55,590 125,933
Median Age: 31.17 33.27 34.02
Households: 2,870 21,454 49,233

Contact

Photograph of Listing Agent

Will E Freeman

Beach Residential SCCMLS Member
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