26 Unit Apartment Complex/Low Overhead/Outstanding Income

Multi-Family for Sale
Catylist Listing ID: 30332373
Property Subtypes: Mid-Rise
Number of Units: 26 Units
Building Size (RSF): 29,326 SF
Gross Building Area: See Agent
Sale Price: $2,299,000
Unit Price: $88,423.08 Per Unit
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 9/14/2018

Overview / Comments

26 UNIT APARTMENT COMPLEX WITH 7% CAP RATE AND 100% OCCUPANCY. Over the last three years, as a unit became vacant it has been renovated. The rental rates have not been significantly raised during that time. 3 units have not been renovated.1 unit have had kitchen renovations completed but not baths. The remaining 22 units have all been renovated with new kitchens and baths. (Including replacing the plumbing behind walls) As a result there has only been three service calls since June 1st. Very low overhead in a great location. Property consist of 26 units in 5 buildings. 12 units are 1100 sq ft 2bd/1.5bth and 14 units are 1150 sq ft 2bd2bth.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Berkeley
Submarket/Township: 72 - G.Creek/M.Corner Hwy.52-Cooper Riv
Tax ID/APN: 2441301050
Year Built: 1979

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,540 64,691 129,181
Median Age: 34.17 33.49 32.05
Households: 2,335 24,656 47,109

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