
1088 Berkeley St. & 1815 Sumner Ave. North Charleston, SC 46 Units
All offering materials are of confindential nature, intended for use by a limited number of parties and furnished solely for the purpose of considering the acquisition of the Property described herein. You agree that you will hold and treat all Offering Downloads in the strictest confidence. No representation is made by owner or powell.group as to the accuracy or completeness of the information contained herein and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the Property. The information contained within has been obtained from sources that we deem reliable, and we have no reason to doubt its accuracy; however, no warranty or representation expressed or implied is made by powell.group or any related entity as to the accuracy or completeness of the information contained herein. Prospective purchasers are expected and encouraged to exercise independent due diligence in verifying all such information. Included herein are projections, opinions, assumptions, or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. Owner and powell.group each expressly reserve the right, at their sole discretion, to reject any, or all expressions of interest or offers regarding the Property, and/or terminate discussions with any entity at any time, with, or without notice.
Executive Summary
powell.group is proud to exclusively present this 46 unit multifamily offering located just outside of Park Circle in North Charleston, SC featuring 2 properties. This offering boasts excellent financial performance as well as locations within the fastest growing corridors of the Charleston MSA. These properties have been professionally managed and maintained with very little tenant turnover and nearly 100% occupancy since current ownership has taken over. These properties are of nearly identical vintage and construction with very subtle differences
Properties
1088 Berkeley St. Hanahan, SC 29410
1815 Sumner Ave. North Charleston, SC 29405
Mix
Berkeley | 22 Units | 2 Bd 1 Ba | ±800sf
Sumner | 24 Units | 2 Bd 1 Ba | ±800sf
Price
Building Breakdown
Berkeley Sumner
1 :: Units 1 - 8 1 :: Units 1 - 8
2 :: Units 9 - 16 2 :: Units 9 - 16
3 :: Units 17- 22 3 :: Units 17- 24
1088 Berkeley
TMS# :: 266-13-00-048
Flood Zone :: X (Firmette)
Acreage :: .7
Construction :: Brick
Vintage :: 1974
Roof Age :: 2017 (25yr Shingles)
HVAC :: Central
Electricity :: Individually Metered
Water/Sewer :: Master Meter, Landlord pays
Plumbing :: PEX/PVC
Laundry :: Common Coin Fed Facility on Site
Appliances :: Electric Range, Refrigerator
Cable/Internet :: Tenant’s choice
Floors :: Hardwood/Tile/Carpet
Windows :: Aluminum Frame
Parking :: 48 Spaces
1815 Sumner
TMS# :: 473-13-00-046
Flood Zone :: X (Firmette)
Acreage :: 1.25
Construction :: Brick
Vintage :: 1973
Roof Age :: 2011 (25yr Shingles)
HVAC :: Central
Electricity :: Individually Metered
Water/Sewer :: Master Meter, Landlord pays
Plumbing :: PEX/PVC
Laundry :: No Facilities
Appliances :: Electric Range, Refrigerator
Cable/Internet :: Tenant’s choice
Floors :: Hardwood/Tile/Carpet
Windows :: Aluminum Frame
Parking :: 48+ Spaces
Financial Summary
Rents
Berkeley :: $900, Tenants Pay Electricity, Landlord Covers Water/Sewer, Waste
Sumner :: $840, Tenants Pay Electricity, Landlord Covers Water/Sewer, Waste
Berkeley and Sumner both have strong operations and a history of great collections amongst tenants. Most who occupy the two properties are legacy tenants.
This schedule of annual rental increases has remained consistent for the past 5 years.
Value-Add Opportunities
Add Laundry services for 1815 Sumner (Storage area is already piped and wired for machines)
Align rental rates with current market comparables
Enhanced marketing efforts
Exterior curb appeal
Interior Upfit
Bundle/Billback Cable and Internet
Incorporate RUBS for water and sewer
Management
The properties have remained 100% occupied with 100% collections since current management took over. The manager of this property will gladly continue operations with new ownership.
Fee Structure :: 6% of EGR
Bilingual :: English/Spanish
Key Points
Average Tenant Occupancy :: 5.97 years | 2148 days
Late Fees :: Starting on 6th of the month
Gallery | 1088 Berkeley








Gallery | 1815 Sumner






















