43 Rose Ln / 517 Rutledge Ave Downtown | 8 units | Package Deal

Multi-Family for Sale
Catylist Listing ID: 30726099
Property Subtypes: Duplex/Fourplex
Number of Units: 8 Units
Building Size (RSF): 6,014 SF
Gross Building Area: See Agent
Sale Price: $1,620,000
Unit Price: $202,500 Per Unit
Property Use Type: Investment
Building Name: 43 Rose Ln / 517 Rutledge Ave Multi-Fam Downtown | 8 units | Pac
Sale Terms: Cash to Seller
Cap Rate: 6.6%
Last Updated: 7/21/2021

Overview / Comments

Both 43 Rose Ln. and 517 Rutledge Ave. are very unique buildings for this area of downtown Charleston. The buildings are a combination of masonry, stucco and brick providing low maintenance and easy management.
43 Rose Ln. - The porch columns on Rose are fiberglass. The sub-floors are concrete making it a very quiet muli-tenant building. Being made of these materials makes for a very low maintenance rental property. Each unit has been updated with new flooring, each has tankless electric water heaters and new fixtures. All of the apartments are equipped with central HVAC and washer/dryer. Each tenant is able to enjoy their own porch area. The property also has off-street parking (concrete driveway). Rents in the neighborhood continue to increase and there is room to increase current rents. This is a rare opportunity to own a low maintenance, high return property in Charleston's most up and coming neighborhood.
517 Rutledge Ave. - This is an extremely convenient location and has quick access to Charleston's surrounding areas. The property has a significant amount of off-street parking. The property provides a common yard area for the tenants. Units B and C have recently had new flooring installed. All of the apartments are equipped with central HVAC and washer/dryer. Being masonry, the property is low maintenance and efficient making it an ease to manage. See Brochure

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 4600702218, 4600801120
Percent Occupied: 100%
Total Number of Buildings: 2
Property Condition: Good
Year Built: 1963
Construction/Siding: Block, Brick, Concrete, Stucco
Parking Type: Surface
Parking Description: off street
Laundry: In Each Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,412 57,832 136,268
Median Age: 27.14 34.23 36.29
Households: 8,678 24,554 56,862
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