Downtown Charleston Multi-Family For Sale

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30802598
Property Subtypes: Mid-Rise
Status: Pending/Contingent
Number of Units: 6 Units
Building Size (RSF): 4,640 SF
Gross Building Area: See Agent
Gross Land Area: 0.23 Acres
Sale Price: $2,600,000
Unit Price: $433,333.33 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/23/2022

Overview / Comments

This multi-family investment has a total of six (6) units and includes ten (10) private parking spaces in the rear of the property. The property is 100% Leased with over $117,000/year in gross income. This site also is also zoned for short term rentals. There is a mixture of two and one bedroom units with all having one bathroom each. The location of the property is very convenient to many businesses and amenities. Across the street is MUSC and right next to the property is the Ashley Inn. Within walking distance is Walgreens and many restaurants (Laurel, Xiao Bao Biscuit, Fuel, Bon Banh Mi, Gnome Café and several restaurants on Spring Street).

The property was recently painted on the exterior and additional landscaping has been completed. Other recent improvements include the renovation of Apartment 1, exterior repairs, tree removal, HVAC replacements and some appliance replacement.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 460-11-04-006
Zoning: LB - Limited Business
Percent Occupied: 100%
Airports: Charleston International Airport
Site Description: The property is located directly behind MUSC.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 3
Year Built: 1983
Parking Type: Surface
Parking Description: There are 10 parking spaces in the rear of the property.
Total Parking Spaces: 10
Zoning Description: Zoned within the City of Charleston for Limited Business & STR Overlay. The Limited Business, LB District is intended to allow a limited variety of commercial uses and services associated with neighborhood retail, financial and office activities which are compatible with residential areas.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 26,008 57,832 136,268
Median Age: 27.97 34.23 36.29
Households: 9,961 24,554 56,862

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