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. 

Table of Contents

  • Executive Summary

  • Portfolio Map

  • Financial Summary

  • Operating Statements

  • Comps

  • Management

  • Gallery

Presented by Buckley T Powell, email, cell

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

Call for Offers

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


Presented by Buckley T Powell, email, cell

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


Presented by Buckley T Powell, email, cell

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