2135 Montford Ave | 2135 Montford Ave
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2135 Montford Ave 2135 Montford Ave
3 Unit Apartment Building $1,410,000 ($470,000/Unit) Charleston, SC 29403
Investment Highlights
- Rare 3-unit investment property in Downtown Charleston built in 2017
- 5 off-street parking spaces
- High-end finishes throughout, including an open floor plan with high ceilings, stainless steel appliances, and large windows
Executive Summary
Don't miss this rare investment opportunity: a 3-unit property built in 2017, situated in the heart of Downtown Charleston. This modern multi-family home offers a total of 9 bedrooms, 6 full baths, and 3 half baths across 4,197 square feet. Each unit boasts approximately 1,300 square feet of living space, featuring 3 bedrooms and 2.5 baths. Inside, you'll find high-end finishes throughout, including an open floor plan with high ceilings, stainless steel appliances, and large windows that fill the space with natural light. Units on the second and third floors feature spacious balconies—perfect for enjoying the Charleston weather.
This area offers easy access to all that Wagener Terrace has to offer, a walk or short drive to Historic Downtown Charleston, but it is also adjacent to the NoMo area where there is a growing opportunity to experience this budding area which is becoming a tech hub with many restaurants and breweries providing a fresh social scene, and it's only a 10-15 minute drive to Charleston International Airport. Lastly, from an investment standpoint, this property is within walking distance to the site of the Magnolia Development which is a 20 acre site that is slated to include office and retail within its plans.
The property comes with five off-street parking spaces, a highly sought-after amenity in this area.
The 3 leases are staggered with lease renewals coming up March 1, 2025, May 1, 2025, and August 1, 2025. The property generates a total of $102,000 in gross revenue between the three units which makes it a great investment opportunity with all three units on long term leases. Conversely, a buyer looking to occupy one unit could easily utilize the revenues from the remaining two units.
A $2,500 lender credit is available and will be applied towards the buyer's closing costs and prepaids if the
buyer chooses to use the seller's preferred lender. This credit is in addition to any negotiated seller
concessions.
This area offers easy access to all that Wagener Terrace has to offer, a walk or short drive to Historic Downtown Charleston, but it is also adjacent to the NoMo area where there is a growing opportunity to experience this budding area which is becoming a tech hub with many restaurants and breweries providing a fresh social scene, and it's only a 10-15 minute drive to Charleston International Airport. Lastly, from an investment standpoint, this property is within walking distance to the site of the Magnolia Development which is a 20 acre site that is slated to include office and retail within its plans.
The property comes with five off-street parking spaces, a highly sought-after amenity in this area.
The 3 leases are staggered with lease renewals coming up March 1, 2025, May 1, 2025, and August 1, 2025. The property generates a total of $102,000 in gross revenue between the three units which makes it a great investment opportunity with all three units on long term leases. Conversely, a buyer looking to occupy one unit could easily utilize the revenues from the remaining two units.
A $2,500 lender credit is available and will be applied towards the buyer's closing costs and prepaids if the
buyer chooses to use the seller's preferred lender. This credit is in addition to any negotiated seller
concessions.
Property Facts
| Price | $1,410,000 | Lot Size | 0.11 AC |
| Price Per Unit | $470,000 | Building Size | 3,900 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2017 |
| Property Subtype | Apartment | Parking Ratio | 1.54/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Building Class | B |
| Price | $1,410,000 |
| Price Per Unit | $470,000 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 3,900 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2017 |
| Parking Ratio | 1.54/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 3 | - | 1,300 |
1 of 1
zoning
| Zoning Code | GB |
| GB |
-
Seth Stisher -
Carolina One Commercial Real Estate
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2135 Montford Ave | 2135 Montford Ave
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