Summerfield

Multi-Family for Sale
Catylist Listing ID: 30812077
Property Subtypes: Low-Rise/Garden
Number of Units: 20 Units
Building Size (RSF): 20,400 SF
Gross Building Area: See Agent
Sale Price: $3,000,000
Unit Price: $150,000 Per Unit
Property Use Type: Investment
Building Name: Summerfield
Sale Terms: Undisclosed
Cap Rate: 4.75%
Average Occupancy Rate: 100
Last Updated: 7/28/2022

Overview / Comments

Summerfield provides an opportunity to purchase a value-add apartment complex in one of the fastest growing markets in the Southeast. Significant rent growth can be easily achieved following the upward trend of the surrounding apartments in the area. Over the last year, roughly 70% of units have been renovated. The layouts are very desirable: all are townhome style with 2 bedroom, 1.5 baths, w/d hook ups, dishwashers, central hvac, and back patios. The property would give an investor the opportunity to push rents to market, take advantage of the high market rent growth (roughly 8% annually), and own a multifamily asset in one of the strongest MSA’s in SC.

Attachments & Media

Additional Details

Nearest MSA: Charleston-North Charleston
County: Dorchester
Submarket/Township: 62 - Summerville/Ladson Area to Hwy.165
Tax ID/APN: 145-07-09-001
Total Number of Buildings: 3
Property Condition: Good
Number of Stories: 2
Year Built: 1980
Year Renovated: 2021

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,746 74,130 124,520
Median Age: 38.22 36.01 34.67
Households: 2,592 28,285 46,066

Contact

Photograph of Listing Agent

Andrew F Batkins

Woodlock Brokerage LLC SCCMLS Member
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