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$5,349,000
Est. payment /mo
65,775 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 65,775 sqft
Price per Sqft $81
MLS Listing ID 31005479
Year Built 1971
Lot Size 1.510 Acres
Acres 1.51
Property Sub-Type Multi Family
Property Description
Located just 2.5 miles from Lake Moultrie and within the Charleston metro area, Santee Run features two apartment buildings with a total of 40 units, including 16 two-bedroom and 24 one-bedroom apartments. Approximately 75% of these units have been renovated or rebuilt in the last five years.The property generates a Gross Potential Rent of $440,400 annually, with a potential increase to $552,096. This opportunity includes month-to-month lease agreements and substantial parking availability, with one of the buildings newly constructed in 2019.Investors can capitalize on the growing real estate market within the Charleston MSA, with a projected market cap rate of 6.72% and a Gross Rent Multiplier (GRM) improvement from 12.15 to a market GRM of 9.69.This offering is potentially ideal for investors looking to capitalize on the dynamic real estate market in the Charleston region.*New construction in 2019 on one unit.
Location
State SC
County Berkeley
Zoning Berkeley - R4 - Multifamily Residential (small-scale)
Exterior
Parking Features Surface
Building
Sewer Public Sewer
Water Public
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Listed by Paul Kelton • Matt O'Neill Real Estate
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