1251 Sumner Avenue, North Charleston, SC 29406
$3,950,000
Property Type:
MultiFamily
Square Footage:
22,560
Lot Size (sq. ft.):
72,310
Status:
Closed
Current Price:
$4,500,000
List Date:
10/08/2021
Last Modified:
6/08/2022
Overview
Description
24 Units, all 3BR 1.5BA. Complex has undergone extensive renovation (see attachments). 100% occupied, all tenants are on a month to month lease, with NO subsidized / SEC 8. All units are currently rented below market value, so there is room for capital improvement. This is a PERFECT 1031 property, or portfolio add for someone looking for a clean and operational complex.
Listing Details MLS# 21027277
Location, Tax & Legal
- Tax Map #
- 4710200093
- Street #
- 1251
- Street Name
- Sumner
- Street Suffix
- Avenue
- County
- Charleston
- State
- SC
- Zip Code
- 29406
- Area
- 32 - N.Charleston, Summerville, Ladson, Outside I-526
- Tax District
- 43 - City of North Charleston
- Subdivision
- Charleston Farms
- Elementary School
- North Charleston
- Middle School
- Morningside
- High School
- North Charleston
- Directions
- I-526 to North Rhett, Left onto North Rhett, First left is Sumner, Complex is 1/4 mile on left between Filbin Creek Apartments and The Oaks at Sumner Apartments.
- Legal Description
- Multi-Fam Tract 2 Charleston Farms TMS#471-02-00-093
Contract Info
- MLS List Date
- 2021-10-08
- Primary Structure List Price/SqFt
- 199.47
General Property Info
- Number of Units
- 24
- # Stories
- 3
- Ground Level
- No
- Primary Structure Apx SqFt
- 22560
- Year Built
- 1992
- Acreage
- 1.66
- Lease Purchase
- No
- Potential Short Sale
- No
Income Expenses Fees
- Annual Expenses
- 69217.05
- Net Income
- 249662.95
Status Change Info
- Sold Date
- 2022-03-21
- Sold Price/SqFt
- 175.09
- New Mortgage Type
- Conventional
Unit 1
- SqFt
- 935
More Information
Income, Expenses & Fees
- Gross Income
- 318880
- Auction
- No
SqFt Source
- List Agent
- Yes
- Tax Records
- Yes
Roof
- Architectural
- Yes
Exterior
- Vinyl Siding
- Yes
Foundation
- Slab
- Yes
Zoning
- Conforming
- Yes
Garage/Parking
- 2 Car
- Yes
Driveway
- Asphalt Strips
- Yes
Architectural Style
- Condominium
- Yes
- High Rise
- Yes
- More than 4
- Yes
- Quadplex
- Yes
New Owned/Pre-owned
- Pre-Owned
- Yes
Equipment/Appliances
- Dishwasher
- Yes
- Disposal
- Yes
- Dryer Connection
- Yes
- Electric Range
- Yes
- Refrigerator
- Yes
- Washer Hookup
- Yes
Cooling
- Central Air
- Yes
Heat
- Electric
- Yes
- Forced Air
- Yes
Amenities
- Bus Line
- Yes
- Cable TV
- Yes
- Park
- Yes
Sale Includes
- Building and Land
- Yes
Proposed Financing
- Cash
- Yes
- Conventional Loan
- Yes
- Exchange
- Yes
- State Housing Author
- Yes
Tenant Pays
- All Utilities
- Yes
Possession
- At Closing
- Yes
Water/Sewer
- Public Sewer
- Yes
- Public Water
- Yes
Utility Suppliers
- Charleston Water Service
- Yes
- N Chas Sewer Distric
- Yes
Property Features
SqFt Source:
List Agent; Tax Records
Roof:
Architectural
Exterior:
Vinyl Siding
Foundation:
Slab
Driveway:
Asphalt Strips
Architectural Style:
Condominium; High Rise; More than 4; Quadplex
Zoning:
Conforming
Cooling:
Central Air
Heat:
Electric; Forced Air
Amenities:
Bus Line; Cable TV; Park
Sale Includes:
Building and Land
Tenant Pays:
All Utilities
Proposed Financing:
Cash; Conventional Loan; Exchange; State Housing Author
Possession:
At Closing
Utility Suppliers:
Charleston Water Service; N Chas Sewer Distric
Listing Office:
Carolina One Real Estate
Last Updated: June - 08 - 2022
Broker Attribution:
843-779-8660
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