16 Unit Brick Apartment Complex

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30725825
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 16 Units
Building Size (RSF): 8,741 SF
Gross Land Area: 0.23 Acres
Sale Price: $1,695,000
Unit Price: $105,937.50 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 9/14/2021

Overview / Comments

16 one bedroom apartments that are currently fully occupied at $750/mo for each unit. Building was built in 1970 and was extensively rented in 2003/2004 and converted to condominiums. Current owners purchased the units and converted back to a 16 unit multifamily complex. Each unit has 1 bedroom, 1 full bathroom, living room and kitchen with washer and dryer. Excellent location near I526 and Savannah Highway.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 12 - W.Ashley outside I-526 to Rantowles
Tax ID/APN: 3100700173
Zoning: DR-1 - Diverse Residential (19.4 units per acre)
Percent Occupied: 100%
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1970
Year Renovated: 2004
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Total Parking Spaces: 14
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Wall Units
Fuel: Electric
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,238 55,784 117,877
Median Age: 36.47 36.84 36.32
Households: 4,721 25,374 50,291

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