8-Plex Brick Condo/Apartment - Ladson Road

Multi-Family for Sale
Catylist Listing ID: 30762298
Property Subtypes: Duplex/Fourplex
Number of Units: 8 Units
Building Size (RSF): 6,126 SF
Gross Building Area: See Agent
Sale Price: $660,000
Unit Price: $82,500 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Building Name: 101 Elmwood Ave.
Usable Size (USF): 5,464 SF
Core Factor: 10.80%
Sale Terms: Cash to Seller
Cap Rate: 7.32%
Last Updated: 9/19/2021

Overview / Comments

Property consists of 8 ea. condos/apartments in a regime. Brick exterior with central interior entrance corridor. All units are +/- 683 SF, 1 Bedroom, 1 bath. Open floor concept with living room, dining area and kitchen. Bedroom sits along rear of unit. Regime fees are at $170/month/unit. Well maintained units that I would classify as solid B-Class apartment(s).

Seller also owns 2 ea. - +/- 1,434 sf, 3BR, 2.5 baths Condos in Summerville and will package these with the 8-plex. Currently these are being marketed in CTAR Residential MLS as single condos.

Rents are mostly under-market.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Dorchester
Submarket/Township: 61 - N.Chas/Summerville/Ladson Area
Taxing Authority: Dorchester County
Tax ID/APN: 1541403018
Zoning: OTHER
Percent Occupied: 100%
Community Amenities: Outdoor Pool, Community Building, Tennis Courts
Property Located Between: Dorchester Road & Palmetto Commerce Parkway
Highway Access: Ladson Road, US-78 & Dorchester Road
Site Description: Property 8 individual condos in a regime and common amenities.
Area Description: Complex and neighborhood consists of mostly brick homes and with other condos (1, 2 & 3 BRs) built in the mid 70s to early 80s. The neighborhood sits just off Ladson Road near shopping, the Summerville hospital and many other services.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1975
Roof Type: Hip
Construction/Siding: Brick
Exterior Description: 100% tan brick.
Parking Description: Asphalt surface parking with common cross-easement spaces for guests.
Total Parking Spaces: 15
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Units in various conditions and upgrades. All units are in good rentable states.
Lot Frontage: 80
Lot Depth: 44
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Other
Easements Description: Common parking and other amenities.
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,592 65,675 157,506
Median Age: 31.24 34.22 34.52
Households: 6,641 24,512 58,488

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