Downtown Mixed-Use Apartments + Office For Sale

Multi-Family for Sale
Also listed as Office, Special Purpose
Catylist Listing ID: 30568545
Property Subtypes: Duplex/Fourplex, Mixed Use, Student Housing
Number of Units: 4 Units
Building Size (RSF): 3,980 SF
Gross Building Area: See Agent
Sale Price: $885,000
Unit Price: $221,250 Per Unit
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: 116 Ashley Avenue
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/5/2020

Overview / Comments

3,980 SF two-story building contains three units: A medical office suite on the first floor and two apartments upstairs. The apartments each contain 1 large bedroom, 1 small bedroom, and 1 bathroom. Off-street paved parking lot behind the building. The apartments have long rental history with MUSC graduate students. First floor office suite has been an opthalmologist's office for 30+ years. Ready for upgrades to maximize investment return. Price reflects condition and needed upgrades. Office suite could potentially be divided into two units. Four electric meters are in place. Property is zoned STR (Single and Two-Family Residential) in the City of Charleston.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 457-03-01-090
Zoning: OTHER
Property Located Between: Bennett Street and Bull Street
Highway Access: Property is located one block south of Calhoun Street / MUSC campus.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1967
Roof Type: Flat
Construction/Siding: Wood Siding
Parking Type: Surface
Parking Description: 7-8 paved parking spaces behind the building
Laundry: In Each Unit
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: First floor office suite needs renovation. One upstairs apartment is ready to rent. The second upstairs apartment needs fresh paint and carpet to rent.
Zoning Description: Property is zoned STR (Single and Two-Family Residential) in City of Charleston.
In Flood Plain?: Yes
Lot Frontage: 53 feet
Lot Depth: 120 feet
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,914 63,454 137,896
Median Age: 26.85 34.61 36.45
Households: 8,153 26,908 57,972
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