Multi-Home Property OR Opportunity for New Commercial Development

Multi-Family for Sale
Also listed as Vacant Land
Catylist Listing ID: 30800356
Property Subtypes: Duplex/Fourplex, Mixed Use, Other
Number of Units: 2 Units
Building Size (RSF): 1,855 SF
Gross Building Area: See Agent
Gross Land Area: 0.72 Acres
Sale Price: $325,000
Unit Price: $162,500 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/5/2022

Overview / Comments

This listing represents the sale of two contiguous parcels each measuring .36 Acres and each with a home. The first property is located on Bells Highway just blocks from Exit #57 on I-95. The second property front Dorsey Street. These properties are located in Walterboro, SC in Colleton County. The front home is currently rented on a month to month basis. The back home is vacant, has rehab potential, but is currently in need of repairs.

Two possibilities exist for this property. 1) Removal of both structures and redevelopment of the property along Bells Highway, just blocks from Exit #57 @ I-95. Recent development in the area includes Cook-Out, Popeyes, an Urgent Care Facility, and Starbucks just to name a few. This is a high traffic area and a regular stop for travelers along the I-95 corridor. 2) Rehab of the exisiting home on the rear property and continued occupancy of the front property along Bells Highway for rental income.

The property along Bells Highway is a 3BR/1BA home, large front porch, fenced in yard and currently has a tenant in place for 1000.00/month. This is a month to month lease. Rents in the area are increasing and a higher rental amount is certainly reasonable. The rear property is also a 3BR/1 BA home. It has been vacant for several months and would need work for the owner to see a reasonable rental rate.

Walterboro is growing quickly as adjoining counties continue to push beyond their borders. This is an excellent opportunity to secure investment property in a growing market.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Colleton
Submarket/Township: 82 - Colleton County
Submarket Type: Central Business District
Tax ID/APN: 147-09-00-064.000 AND 147-09-00-057.000
Zoning: RESIDENTAL/COMMERCIAL
Property Located Between: Exit #57 on I-95 and Robertson Blvd
Highway Access: Easy access to I-95
Site Description: Located along busy four lane highway.
Total Number of Buildings: 2
Property Condition: Good
Year Built: 1999
Lot Frontage: 100 Feet
Lot Depth: 325 Feet
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,853 8,243 15,775
Median Age: 40.96 40.64 39.04
Households: 1,224 3,325 6,033

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