Downtown Summerville Duplex for Sale

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30777893
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 2 Units
Building Size (RSF): 1,665 SF
Gross Building Area: See Agent
Gross Land Area: 0.35 Acres
Sale Price: $369,000
Unit Price: $184,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Average Occupancy Rate: 100
Last Updated: 1/14/2022

Overview / Comments

A Great opportunity to capture commercially zoned property in the heart of downtown Summerville. This Updated Duplex, located in a fantastic location just one block off Main Street, is surrounded by professional offices, shopping, restaurants, and is just a short drive to I-26. Multiple options exist for use: Rent out both sides...Rent one side and live in the other....Convert to residence/business (zoned Commercial B3 General Business use)...OR– tear the whole thing down and build a beautiful, new office building or multiple property duplexes! This is a large .35 Acre lot so there is plenty of room to accommodate a multitude of uses. Unit A is currently vacant, per agent request to allow for showings, but has been regularly rented for the last ten years. This 2BR/1BA unit has been freshly painted, has new laminate flooring, and a private side entrance. Unit B also has 2BR/1BA but is larger and includes front and rear porches, a new HVAC in 2020, and is tenant occupied until 5/31/2022. The roof was replaced in 2004 and each side has its own driveway. This is a quiet neighborhood but within walking distance to Aldi grocery store and multiple fast food restaurants. This is a great buy and an even better investment property. Hurry and book your appointment today!

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $8,219 (Annual)
Potential Rental Income $28,800 (Annual)

Additional Details

Nearest MSA: Charleston-North Charleston
County: Dorchester
Submarket/Township: 63 - Summerville/Ridgeville Area
Tax ID/APN: 1301605006
Zoning: OTHER
Property Located Between: Highway 17-A Main Street Summerville and Berlin G Myers Parkway
Highway Access: Less than 1 mile from Exit 199A/B on I-26
Area Description: Residential with Growing Commercial Presence
Total Number of Buildings: 1
Property Condition: Good
Year Built: 1980
Year Renovated: 2020
Construction/Siding: Vinyl Siding
Parking Type: Surface
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Lot Frontage: 152 Feet
Lot Depth: 136 Feet
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,572 51,312 125,455
Median Age: 39.56 35.86 35.03
Households: 2,215 19,248 46,397

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