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North Charleston,SC 29420
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 175,982 sqft
Price per Sqft $38
MLS Listing ID 31005582
Year Built 2000
Lot Size 4.040 Acres
Property Sub-Type Multi Family
Property Description
Located less than half a mile from Ashley Phosphate Road, The Cedars presents an exceptional investment opportunity in the thriving North Charleston market. This well-maintained 37-unit townhome condominium portfolio features two-bedroom, 1.5-bathroom layouts, offering desirable living spaces for residents. With a Gross Potential Rent of $618,838 annually, and the ability to potentially increase to $732,600, investors have the potential opportunity to enhance returns. The portfolio includes a mix of annual and month-to-month leases, providing flexibility in revenue optimization. Parking availability further enhances tenant convenience and appeal. Strategically positioned within the high-growth Charleston MSA, The Cedars benefits from strong market fundamentals. Investors can potentially expect a Year 1 cap rate of 6.09%, with a Gross Rent Multiplier (GRM) improvement from 11.06 to 9.34, underscoring the asset's upside potential. This offering may be ideal for investors seeking a stabilized, income-producing property in one of South Carolina's most dynamic real estate markets. Don't miss this opportunity to acquire a well-positioned asset in the heart of North Charleston.Seller is a licensed real estate agent.Also list as MLS# with 9 of the 37 units.Sale includes the following: 172-12-08-040.002, 172-12-08-040.003, 172-12-08-040.004, 172-12-08-040.005, 172-12-08-040.006, 172-12-08-040.010, 172-12-08-040.011, 172-12-08-040.012, 172-12-08-040.017, 172-12-08-040.019, 172-12-08-040.020, 172-12-08-040.022, 172-12-08-040.023,172-12-08-040.024, 172-12-08-040.025, 172-12-08-040.026, 172-12-08-040.027, 172-12-08-040.028, 172-12-08-040.029, 172-12-08-040.030, 172-12-08-040.032, 172-12-08-040.033, 172-12-08-040.034, 172-12-08-040.035, 172-12-08-040.036, 172-12-08-040.037, 172-12-08-040.038, 172-12-08-040.040, 172-12-08-040.041, 172-12-08-040.042, 172-12-08-040.043, 172-12-08-040.044, 172-12-08-040.045, 172-12-08-040.047, 172-12-08-040.048, 172-12-08-040.049, 172-12-08-040.050
Location
State SC
County Dorchester
Zoning Dorchester - R-4 - Multi-Family Residential
Exterior
Parking Features Surface
Building
Sewer Public Sewer
Water Public