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    3733 St. Johns

    North Charleston, SC 29405
    • $1,450,000
    • STATUS: Active Under Contract
    • ON SITE: 23 days
    • ID#: 30653567
    Under Contract
    UPDATED: 65 min ago
    $1,450,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS

    School Ratings & Info

    Description

    3733 St. Johns provides an opportunity to purchase a completely stabilized and renovated apartment complex just outside Park Circle. The property includes a large 12-unit building and four 2-bedroom houses. Three houses have been updated, but the fourth is vacant and needs to be completely renovated. The main apartment building also underwent a unit and common area renovation. In addition to the interior renovations, the property has experienced extensive exterior improvements as well. Some of the exterior capital expenditures include parking lot site-work and rejuvenation, exterior repairs and painting, complete landscaping overhaul, and a new roof will be installed before closing. The property shows great, and the area is continuing to experience rapid redevelopment.The property voluntarily participates in the Section 8 program and the majority of the rent is coming from one of the various housing authorities. While a purchaser has the ability to convert the units to market-rate as the surrounding area continues to grow, the current setup as Section 8 provides good stability with no issues in rent collection and near-zero vacancy. Each unit is separately metered for electricity, but the landlord provides at his expense, water, sewer, cable, and internet.

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    www.thecassinagroup.com/homes/110445284
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    3733 St. Johns North Charleston, SC 29405

    • Price: $1,450,000
    • Status: Active Under Contract
    • Updated: 65 min ago
    • ID#: 30653567
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    N. Charleston - Inside Mark Clark
    County:
    Charleston
    Area:
    N. Charleston - Inside Mark Clark
    Property Description
    3733 St. Johns provides an opportunity to purchase a completely stabilized and renovated apartment complex just outside Park Circle. The property includes a large 12-unit building and four 2-bedroom houses. Three houses have been updated, but the fourth is vacant and needs to be completely renovated. The main apartment building also underwent a unit and common area renovation. In addition to the interior renovations, the property has experienced extensive exterior improvements as well. Some of the exterior capital expenditures include parking lot site-work and rejuvenation, exterior repairs and painting, complete landscaping overhaul, and a new roof will be installed before closing. The property shows great, and the area is continuing to experience rapid redevelopment.The property voluntarily participates in the Section 8 program and the majority of the rent is coming from one of the various housing authorities. While a purchaser has the ability to convert the units to market-rate as the surrounding area continues to grow, the current setup as Section 8 provides good stability with no issues in rent collection and near-zero vacancy. Each unit is separately metered for electricity, but the landlord provides at his expense, water, sewer, cable, and internet.
    Property Features

    Property Status Existing Property Sub Type Low-Rise/Garden Property Type Multi-Family Sale Price Min 1450000.00 Title 15-Units Multifamily

    Listing courtesy of Woodlock Brokerage Llc.
     
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    The Cassina Group, LLC
    309 Coleman Boulevard
    Mount Pleasant SC, 29464