Positive Cash Flow in North Charleston

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30679360
Status: Pending/Contingent
Number of Units: 24 Units
Building Size (RSF): 18,104 SF
Gross Building Area: See Agent
Sale Price: $2,300,000
Unit Price: $95,833.33 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 1/17/2021

Overview / Comments

100% occupied with positive cash flow! 2BD apartments were built in 2008 and the 1BD apartments were built in 1972. Owner bought brand new AC's in 2017 and LVP flooring has been replaced as units turn. Main water line from street was replaced in 2019 to reduce water bill. Additional building on lot is currently being used for storage but could be another unit, laundry facility, etc.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Tax ID/APN: 4781400142
Percent Occupied: 100%
Highway Access: I26 within minutes
Airports: Charleston International Airport
Total Number of Buildings: 3
Year Built: 1972
Construction/Siding: Brick/Aluminum Siding, Vinyl Siding
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Other
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,924 62,709 139,799
Median Age: 28.86 31.94 32.43
Households: 1,775 24,451 53,473

Contact

Photograph of Listing Agent

Brooke N Madsen

True Carolina Realty SCCMLS Member
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