1251 Sumner Avenue, North Charleston, SC 29406 (MLS# 21027277)

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

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.

More Information MLS# 21027277

Contract Info

MLS List Date: 2021-10-08 Status: Closed List Price: $4,500,000 Current Price: $3,950,000

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 Legal Description: Multi-Fam Tract 2 Charleston Farms TMS#471-02-00-093 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.

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

Gross Income: 318880 Annual Expenses: 69217.05 Net Income: 249662.95 Auction: No

Office/Member Info

Buyers Agency Compensation: 2 Buyers Agency Compensation Type: %

Status Change Info

Sold Date: 2022-03-21 Sold Price/SqFt: 175.09 New Mortgage Type: Conventional

Unit 1

SqFt: 935 Bedrooms: 3 Baths: 1.5

Property Features

SqFt Source: List Agent; Tax Records Roof: Architectural Exterior: Vinyl Siding Foundation: Slab Garage/Parking: 2 Car Driveway: Asphalt Strips Architectural Style: Condominium; High Rise; More than 4; Quadplex New Owned/Pre-owned: Pre-Owned Zoning: Conforming Equipment/Appliances: Dishwasher; Disposal; Dryer Connection; Electric Range; Refrigerator; Washer Hookup 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 Water/Sewer: Public Sewer; Public Water Utility Suppliers: Charleston Water Service; N Chas Sewer Distric
Listing Office: Carolina One Real Estate
Last Updated: June - 08 - 2022
1251 Sumner Avenue, North Charleston, SC 29406- MLS# 21027277
The listing broker’s offer of compensation is made to participants of the MLS where the listing is filed, as well as participants of MLSs via the Southeast MLS Alliance data share.

Broker Attribution: 843-779-8660

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