North Charleston, SC 29405
- N/ABeds
- N/AFull Baths
- N/AHalf Baths
- 7,200SqFt
- 1960Year Built
- 0.22Acres
- MLS# 18010424
- Multi Family
- Sold
- Approx Time on Market2 months,
- AreaNorth Charleston Inside I-526
- CountyCharleston
- SubdivisionNorth Charleston
Overview
Tremendous opportunity for investor at 8.4% cap rate with LOW rents to keep current buildings or for a developer to build multi-unit or single family homes. Current building is a 16 unit complex with 14 one-bedroom and 2 two-bedroom units. Plenty of parking. Tenants pay their own utilities. All units have washer hook-ups and a few have washer and dryer hookups. VERY conservative cap rate at 8.4% with rents low. Increase rents to market rate and enjoy a 10.4% cap. Clean units that have been well maintained and always full! Great lot that backs up to the marsh and located next to a community of all brand new homes. Convenient access for tenants to 526 and 26.
Sale Info
Listing Date: 04-14-2018
Sold Date: 06-15-2018
Aprox Days on Market:
2 month(s), 0 day(s)
Listing Sold:
5 Year(s), 10 month(s), 11 day(s) ago
Original Asking Price: $849,500
Asking Price: $849,500
Selling Price: $845,000
Price Difference From Original:
Reduced By $4,500
Price Difference From Asking:
Reduced By $4,500
Agriculture / Farm
Grazing Permits Forest Service: Yes
Grazing Permits Private: Yes
Grazing Permits Blm: Yes
Horse: No
Farm Credit Service Incl: Yes
Association Fees / Info
Bathroom Info
Building Info
Year Built: 1960
Business Info
Rent Control: No
Buyer Compensation
Exterior Features
Pool Private: No
Garage / Parking
Garage: No
Attached Garage: No
Interior Features
Fireplace: No
Laundry Features: Dryer Connection
Lot Info
Lot Size: 0.22
Lot Size Units: Acres
Acres: 0.22
Lot Sqft: 9583.2
Irrigation Water Rights: Yes
Offer Compensation
Other
Mobile Home Remains: Yes
Property Info
Property Type: B
Stories: 2
Foundation: Slab
Exterior: Block/Masonry, Wood Siding
New Construction: No
Roof: Asphalt
Building Area Units: Square Feet
View: No
Home Warranty: Yes
Habitable Residence: Yes
Structure Type: More than 4
Room Info
Sale / Lease Info
Sold Date: 2018-06-15T00:00:00
Lease Renewal Option: Yes
Lease Considered: Yes
Lease Assignable: Yes
Sqft Info
Sqft: 7200
Unit Info
Number of Units Total: 16
Utilities / Hvac
Utilities: Charleston Water Service, SCE & G
Heating: Yes
Heat: Forced Air
Water Sewer: Private Sewer
Cooling: Yes
Waterfront / Water
Waterfront: No
Directions
Virginia Avenue To Buist Avenue. Turn Left On Ohear Avenue.Courtesy of listing office BHHS Carolina Sun Real Estate
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