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


$4,500,000
1251 Sumner Avenue
North Charleston, SC 29406
MLS# 21027277
22560 sqft


1251 Sumner Avenue, North Charleston, SC 29406
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1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406 1251 Sumner Avenue, North Charleston, SC 29406

Property 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.

Details
Maps
Contract Info
MLS List Date: 2021-10-08
Status: Active
List Price: $4,500,000
Current Price: $4,500,000
List Price/SqFt: 199.47
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 - 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
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
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; Dryer Connection; Electric - Range; Garbage Disposal; Refrigerator; Washer Connection
Cooling: Central
Heat: Electric; Forced Air
Amenities: Bus Line; Cable TV Available; Play 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: October - 08 - 2021

1251 Sumner Avenue, North Charleston, SC 29406 - MLS# 21027277

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