978 South Live Oak Drive

Multi-Family for Sale
Catylist Listing ID: 30413045
Property Subtypes: Duplex/Fourplex
Number of Units: 7 Units
Building Size (RSF): 13,400 SF
Gross Building Area: See Agent
Sale Price: $990,000
Unit Price: $141,428.57 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: 9.4%
Last Updated: 10/14/2019

Overview / Comments

This is a unique opportunity to own a 7 unit Multi Family property with an additional cash flowing business! This property is comprised of 2 buildings totaling 13400 SF. The main building is 11,550 SF and 5 apartments with great rental history and has an attached 4000 SF warehouse that is used as an FDA approved kitchen for food trucks that has 16 foot ceilings and two 14 foot roll up doors. The 2nd building is an 1850 SF townhouse with 2 apartments. The total gross income from the apartments is $63,002.00.
The income from the FDA kitchens is $52,800.00 a year. There is additional warehouse space that is currently leased for $7,500.00 per year. There is an additional 1200 SF of space that could be leased as office space.
The total income for the property is $112,502. Expenses include .
Insurance , $4,376.14
Property Taxes, $10,526.90
Utilities, $ 14,360.73
Trash Pick up, $ 1,170.28
Total Expenses $ 30,433.77
Net Income $ 92,868.23
Restaurant equipment to convey with the sale is valued at $17,025.00

Additional Details

Nearest MSA: Charleston-North Charleston
County: Berkeley
Submarket/Township: 76 - Moncks Corner/Pinopolis Area
Tax ID/APN: 1610400001
Zoning: GC - General Commercial District
Property Condition: Good
Number of Stories: 2
Year Built: 1985
Roof Type: Arched
Construction/Siding: Brick/Vinyl Siding
Parking Type: Surface
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Internet Access: Satellite
Zoning Description: Commercial And Residential
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,888 13,173 22,668
Median Age: 38.76 35.38 36.55
Households: 688 4,783 8,302

Contact

Photograph of Listing Agent

Barnwell B Cuthbert

Carolina One Real Estate SCCMLS Member
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