11 Unit Apartment / Condo Located on King Street

Multi-Family for Sale
Catylist Listing ID: 30279501
Property Subtypes: Mid-Rise
Number of Units: 11 Units
Building Size (RSF): 11,076 SF
Gross Building Area: See Agent
Sale Price: $1
Unit Price: $0.09 Per Unit
Property Use Type: Investment
Building Name: 289-291 King Street
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 7/11/2018

Overview / Comments

Price not disclosed - This property is now being auctioned by TEN-X Commercial. Please visit www.ten-x.com/commercial/ to register to bid and bidding instruction.
Just steps away from the College of Charleston’s 12,000 students and the Medical University of South Carolina, this prominent multifamily building features 11 apartments (lofts, 1-BR and 2-BR units) and is located on the western side of King Street at the intersection of of Society Street. The properties are part of a master regime which also includes the King Street retail space, which is not included in this offering.

A rare opportunity to own an asset in the highly desirable downtown submarket of historic Charleston, South Carolina. This grand, iconic structure is an extremely, well-located 11-unit apartment/condo building on the nationally-recognized King Street retail, hospitality, and restaurant corridor in downtown Charleston.

Charleston's economic mix is diverse, combining one of the busiest container ports, a world-recognized visitor industry, a thriving airport, one of the Southeast’s most impressive medical hubs, a well-established base of national and international manufacturers, as well as a large military presence. The Charleston metro’s dynamic economy, alongside the natural beauty, world-class culture and historic charm, has led to a highly sought after destination for businesses, potential residents and tourists.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 457-04-04-309
Zoning: GB - General Business
Property Located Between: Corner of King and Society Street
Highway Access: HWY 26 and HWY 17
Airports: Charleston International Airport
Area Description: Downtown Charleston Central Business District
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1943
Construction/Siding: Block, Brick, Steel Frame, Stucco
Parking Type: Other
Parking Description: Building is grandfathered for 17 parking spaces with The City of Charleston
Passenger Elevators: 1
Laundry: Shared
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Fuel: Gas, Electric
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: 289-291 King Street Existing Unit Mix Proposed Unit Mix 1 Bedroom/1 Bath – 3 1 Bedroom/1 Bath – 2 2 Bedroom/1 Bath – 6 2 Bedroom/2 Bath - 6 2 Bedroom/2 Bath – 1 3 Bedroom/3 Bath - 3 3 Bedroom/2 Bath – 1 Total Units – 11 Total Units - 11 Total Bedrooms - 20 Total Bedrooms – 23 Existing square footage – 11,076 sq ft Proposed square footage – 12,909 sq ft **Current unit square footage does not include common areas – hallways, stairwells, etc.
Zoning Description: General Business
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines
Legal Description: 298-291 KIng Street

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,274 56,354 136,279
Median Age: 28.79 34.51 36.71
Households: 8,582 23,532 57,059

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