Multifamily property in North Charleston
Multi-Family
for Sale
| Catylist Listing ID: |
30782292 |
| Number of Units: |
16 Units |
| Building Size (RSF): |
11,906 SF |
| Gross Building Area: |
See Agent |
| Sale Price: |
$1,975,000 |
| Unit Price: |
$123,437.50 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Purchase Money Mortgage |
| Auction Type: |
Absolute |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/11/2022 |
Overview / Comments
Excellent income opportunity located in a prime location in the burgeoning area of North Charleston, close to Park Circle. A 12 unit, one bedroom/one bath apartment building and three renovated (in 2020 with new roofs, HVAC's and plumbing) single family dwellings on the same tax map number. 2 bed, one bath each. Well managed and well maintained for easy take over. The current property manager is willing to continue managing. There is ample parking on the property. Currently fully rented but rents are not keeping up with the current market value. A fourth house is on the property that was not renovated. It is currently boarded up but offers potential additional income if renovated. Call or email for financials.
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Additional Details
| Nearest MSA: |
Charleston-North Charleston |
| County: |
Charleston |
| Submarket/Township: |
31 - N.Charleston Area inside I-526 |
| Taxing Authority: |
Charleston |
| Tax ID/APN: |
4690400037 |
| Zoning: |
M-12 - Mixed Style Residential 12 District |
| Percent Occupied: |
100% |
| Property Located Between: |
Spruill and St. Johns |
| Highway Access: |
526 or HWY 17 |
| Airports: |
Charleston National Airport |
| Site Description: |
One 12 unit apartment complex. All one bed, one bath. There are four single family dwellings on the property. All are two bed, one bath. Three have been completely renovated with new roofs, plumbing and HVAC's in 2020.). The fourth house is boarded up, waiting to be refinished if desired. There is ample parking for the tenants on the property. |
| Area Description: |
This is a stable neighborhood just outside Park Circle and new homes are being built in the immediate area. This property is surrounded by new building and growth. |
| Total Number of Buildings: |
6 |
| Property Condition: |
Good |
| Year Built: |
1966 |
| Year Renovated: |
2020 |
| Roof Type: |
Arched |
| Construction/Siding: |
Block, Brick, Concrete |
| Parking Type: |
Surface |
| Parking Description: |
Ample off street parking on the property |
| Laundry: |
Shared |
| Heat Type: |
Electricity |
| Heat Source: |
Heat Pump |
| Air Conditioning: |
Package Unit |
| Internet Access: |
Cable |
| Zoning Description: |
residential |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Electric Lines |
| Easements Description: |
Power lines run along Spruill in the front of the property |
| Land Ownership: |
owned |
| Legal Description: |
LT 4 5 & PT LT 3
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Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
11,411 |
43,490 |
132,441 |
| Median Age: |
34.38 |
34.82 |
34.31 |
| Households: |
4,462 |
16,472 |
53,622 |
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