3317 Florida Avenue, North Charleston, SC 29405

$1,750,000
9,492
SqFt

Property Description

20 unit apartment complex in hot area in the path of progress between Park Circle and Downtown. 21st unit is a coin-fed laundry rm with full bath as storage/security room. Complex has video security, six-foot perimeter fence, surface parking and central HVACs. Unit mix is 18 - 1 bd 1 ba and 2 - 2 bd 1 ba. Owner pays water and most power. New roof in 2019 and multiple new HVACs. 6.4% CAP is based on 2019 NOI. Current rent roll is $16,570. Some legacy tenants, opportunity to boost rents. Opp Zone. Find 2019-20 P&Ls, current rent rolls; financing quote, and underwriting by John Brady of CBRE attached.City of N Charleston took over Reynolds Ave, added parking; has plans to streetscape Reynolds similar to the efforts undertaken that transformed Montague/Pk Cir.Owner is agent

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Listing courtesy of Horne Realty, Llc.