Multifamily Property for Sale in North Charleston, SC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: North Charleston, SC 29406

Description

Marcus & Millichap is pleased to present Van Buren Avenue, a fully renovated 12- unit multifamily community located in North Charleston, South Carolina. The property features a balanced unit mix of six one-bedroom and six two-bedroom apartments and has undergone a comprehensive interior and exterior renovation program. Interior upgrades include modernized kitchens and bathrooms, new cabinetry finishes, updated countertops, new fixtures, ceiling fans, flooring, paint, and electrical improvements, along with HVAC and water heater replacements as needed. Select units have also been enhanced with washer and dryer hookups, improving functionality and tenant appeal. The exterior of the property has been significantly improved with new railings and stair systems, roof enhancements, parking lot concrete replacement, upgraded mailboxes, and refreshed landscaping, all of which enhance both curb appeal and long-term durability. Van Buren Avenue offers investors a true turnkey opportunity with minimal near-term capital requirements. Strategically located near Interstate 26 and Interstate 526, the property provides convenient access to downtown Charleston, Joint Base Charleston, Boeing, the Port of Charleston, and major retail corridors, supporting strong rental demand and long-term investment stability. Investment Highlights: • Fully Renovated 12-Unit Community with Six One-Bedroom and Six Two-Bedroom Units • Prime Location Near Interstate-26, Interstate-526, Downtown Charleston, Charleston Air Force Base, and Tanger Outlets • Strong Rents Supported by Updated Interiors and Demand from Major Employers and Military Presence • Enhanced Curb Appeal and Long-Term Durability Through Exterior Upgrades and Site Improvements

Market Context

This multifamily in North Charleston, SC is listed for sale. It is offered at an approximate 6.4% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in North Charleston, SC — <a href="/search/sale/multifamily/south-carolina/north-charleston">view the full market</a>.

As of Q4 2019, the Charleston multifamily market showed a 4.6% vacancy rate, average asking rents near $1804.00/unit/mo, and rents up 12.7% year over year. Source: Consensus Q4 2019 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the Charleston multifamily market tightening or softening?
Vacancy is around 4.6%, with asking rents rising year over year (Q4 2019).

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