High Grossing Multi-Unit 10-Plex

Multi-Family for Sale
Catylist Listing ID: 30381941
Property Subtypes: Duplex/Fourplex
Number of Units: 10 Units
Building Size (RSF): 7,196 SF
Gross Building Area: See Agent
Sale Price: $695,000
Unit Price: $69,500 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 10.4%
Last Updated: 4/17/2019

Overview / Comments

Very rare 10-plex! 10.4% cap rate and over $91,000 gross income per year and tenants pay all their own utilities(individually metered). All 2-bedroom, 1 bathroom units. Many of the units have been renovated or improvements made. 3 buildings(2- 4 plex units and 1 duplex) on separate parcels(TMS#'s: . Live in one unit to qualify for FHA/VA Financing. Many improvements to the property both externally and internally. New parking area. New keyed mailbox. New roofs. New fence. Affordable housing is in demand in Charleston and these units are always full. X and .2 percent flood zone so minimal flood risk and insurance.

Attachments & Media

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 31 - N.Charleston Area inside I-526
Taxing Authority: Charleston County
Tax ID/APN: 4721200023
Zoning: R-1
Percent Occupied: 100%
Property Located Between: Railroad Avenue and Piedmont Avenue
Highway Access: Fuller Street to Rivers Avenue
Site Description: 3 parcels with 10 units. 2, 4-unit buildings each on a separate parcel and one duplex on a separate parcel all being sold together.
Total Number of Buildings: 3
Property Condition: Good
Number of Stories: 1
Year Built: 1984
Year Renovated: 2018
Parking Description: Off-Street Parking area.
Sprinklers: None
Heat Type: Other
Heat Source: Central
Air Conditioning: Window Unit, Other
Interior Description: Gas furnaces. 1929 Iron Street has central air. 1918 and 1908 Iron Street have window AC units.
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 1908 Jason St. TMS# 472-12-00-023 LOT C BLK 26& 1918 Jason St. TMS #472-12-00-025 LOT B BLK 26& 1924 Jason St. TMS #472-12-00-026 LOT A BLK 26

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,378 59,127 117,835
Median Age: 34.07 33.4 34.09
Households: 3,282 22,096 46,212

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