Permitted Condo./Multi-Family/Office Development in Opportunity Zone

Multi-Family for Sale
Catylist Listing ID: 30377196
Property Subtypes: Mid-Rise, Mixed Use
Number of Units: 10 Units
Building Size (RSF): 19,849 SF
Gross Building Area: See Agent
Gross Land Area: 11,912 SF
Sale Price: $1,975,000
Unit Price: $197,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 11/19/2019

Overview / Comments

Proposed, fully entitled 9 unit condo./multi-family development with 4,500 square feet of ground floor office space in the Opportunity Zone. 554 Rutledge Ave., a former Humanities Center, is located in the heart of the Westside neighborhood just North of the Crosstown on the Rutledge Ave. Corridor. Approved plans feature 12,040 square feet of residential living space and approximately 4,500 of office space on 4 floors totaling 19,849 square feet. There are 9 off-street spaces on-site (1 per condo. unit). In addition to Opportunity Zone credits, the project may also qualify for the Abandoned Building Tax Credit. Site plan, permit set, construction budgeting information, and additional details available by request.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 52 - Peninsula Chas. outside of crosstown
Tax ID/APN: 460-04-03-136
Community Amenities: Jogging Paths, Play Ground
Total Number of Buildings: 1
Year Built: 1941
Roof Type: Barrel Shell
Total Parking Spaces: 9
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,065 58,416 139,277
Median Age: 27.89 34.33 36.14
Households: 9,406 24,794 58,059


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