Pitt Street Triplex

Multi-Family for Sale
Catylist Listing ID: 30569707
Property Subtypes: Duplex/Fourplex
Number of Units: 3 Units
Building Size (RSF): 3,944 SF
Gross Building Area: See Agent
Sale Price: $1,300,000
Unit Price: $433,333.33 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.0%
Last Updated: 10/10/2020

Overview / Comments

The Lazurus-Legerton House. Built circa 1854. Centrally located in the urban core of Charleston, 66 Pitt Street just a few blocks away from Marion Square, the MUSC campus, the College of Charleston campus, the Ashley Hall campus and the King Street retail/restaurant district. The property is currently configured as a triplex, with separately metered water and electric for each of the 3 units. All three units are leased through July 31, 2021. However, there is the potential to convert the building back to a single-family home upon expiration of the current leases. The property features large porches on the first and second levels and a large rear yard area, which can accommodate 6 parking spaces (could be repurposed as a private yard if the property were converted to single family use). Currently, five parking spaces are allocated to tenants and one space is rented monthly to a non-occupant of the property. Unit A features 3 bedrooms and 2 full baths. Unit B (second level) features 3 bedrooms and 1 full bath. Unit C (top floor) features 1 bedroom and 1 full bath. HVAC system in Unit C is new (installed Oct 2019). The owner has made numerous other repairs and updates to the property (see list in separate attachment). Buyer to verify schools, square footage, acreage, and all other info deemed relevant by Buyer. Financial information available upon request. Disclosure: Property is subject to an easement in favor of the Historic Charleston Foundation, which includes a right of first refusal in favor of HCF (Seller will request a waiver of the right of first refusal).

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 460-16-03-073
Year Built: 1856

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,989 59,201 139,771
Median Age: 28.85 34.5 36.5
Households: 9,236 25,034 58,574

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