24 Unit Multi Fam - All 3BR/1.5BA

Multi-Family for Sale
Catylist Listing ID: 30755165
Property Subtypes: Low-Rise/Garden
Number of Units: 24 Units
Building Size (RSF): 26,964 SF
Gross Building Area: See Agent
Gross Land Area: 1.66 Acres
Sale Price: $4,500,000
Unit Price: $187,500 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 6.24%
Average Occupancy Rate: 100
Last Updated: 10/13/2021

Overview / Comments

24 Units, all 3BR 1.5BA. Complex has undergone extensive renovation (see attachments). 100% occupied, all tenants are on a month to month lease, with NO subsidized / SEC 8. All units are currently rented below market value, and increases are scheduled to take place over the next 3-6mo, but will still not garnish full market value. This is a PERFECT 1031 property, or portfolio add for someone looking for a clean and operational complex. Section 8 has verbally offered $1,700 per unit.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 32 - N.Chas./Summerville outside I-526
Tax ID/APN: 471-02-00-093
Zoning: OTHER
Percent Occupied: 100%
Highway Access: I-26 & I-526
Airports: CHS
Total Number of Buildings: 4
Property Condition: Excellent
Number of Stories: 3
Year Built: 1992
Year Renovated: 2018
Roof Type: Gable
Construction/Siding: Vinyl Siding
Parking Ratio: 1.5 (per 1000 SF)
Parking Type: Surface
Total Parking Spaces: 75
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Evaporative Cooler
Internet Access: Cable, DSL, Fiber Optic
Interior Description: Fully renovated, all new appliances, LVP Flooring, paint, windows, fixtures, etc.
Zoning Description: Spclty-Small Apartments
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Utilities
Legal Description: Charleston Farms, Tract 2, TMS# 471-02-00-093

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,058 41,357 116,953
Median Age: 35.35 33.26 33.59
Households: 3,271 16,180 45,543


© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither South Carolina Statewide Commercial MLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.