Multi Family For Sale

Multi-Family for Sale
Catylist Listing ID: 30377198
Property Subtypes: Low-Rise/Garden
Number of Units: 10 Units
Building Size (RSF): 5,236 SF
Gross Building Area: See Agent
Sale Price: $710,000
Unit Price: $71,000 Per Unit
Property Use Type: Investment
Building Name: Hanahan Court
Sale Terms: Cash to Seller
Cap Rate: 8.03%
Last Updated: 5/9/2019

Overview / Comments

Multi-family investment opportunity- This site is located in the popular area of Hanahan where roads are expanding and where there are new/renovated commercial buildings. With recent capital improvements and stable tenants, this is a low cost, high yield method to become an owner of an investment property in a targeted redevelopment area of Charleston. There is a live in Property Manager to collect rent and make repairs for a new owner to utilize. A few recent capital improvements include: 3 new architectural roofs put on all buildings, building 5827 (4 units) rewired new 4 meter box outside, and other interior/exterior enhancements.

*GREAT VALUE ADD- Not all the units have been renovated that leaves more rent increase potential as well as future exterior upgrades.

Please contact Jenna Philipp for the financial summary.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Berkeley
Submarket/Township: 71 - Hanahan Area
Tax ID/APN: 265-15-04-023 & 265-15-04-022
Highway Access: One mile to Interstate I-26
Airports: Charleston International Airport
Area Description: Walking distance to two different retail centers that have Piggly Wiggly as one of the anchor tenants. The site is also within blocks of City Hall, banks and restaurants.
Property Condition: Good
Year Built: 1950
Construction/Siding: Vinyl Siding
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,322 46,758 120,263
Median Age: 34.79 32.23 32.92
Households: 3,974 17,821 45,971

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