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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 31005583
Year Built 2000
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 9-unit townhome condominium portfolio features two-bedroom, 1.5-bathroom layouts, offering desirable living spaces for residents.With a Gross Potential Rent of $158,940 annually, and the ability to potentially increase to $178,200, 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 37 total units.Sale includes: 172-12-08-040.010, 172-12-08-040.011, 172-12-08-040.038, 172-12-08-040.040, 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
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Listed by Paul Kelton • Matt O'Neill Real Estate
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