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2647 Bonds Ave
North Charleston, SC 29405
Multifamily Property For Sale
·
8 Units
Executive Summary
2647 Bonds Ave, North Charleston, SC 29405 | 8-Unit Renovated Multifamily Investment Opportunity
Exceptional multifamily investment property located in the rapidly growing North Charleston submarket. This 8-unit apartment building has undergone major renovations in 2021, offering investors a turnkey asset with flexible income strategies.
Property Highlights:
Fully private & fenced-in property
Electric Gate Access
Enclosed storage on site
Unit Sizes ranging from approx. 300 to 900 SF
Advanced access control system for short or long term rentals
Major Renovations in 2021
Estimated 6,500sf total including common areas
Short-Term Rentals (Airbnb): Proven track record of approx. $288,000/year gross w/ $255k/yr NOI
Long-Term Leases: Approx. $212,000/year gross revenue w/ $180k/yr NOI
Operating Expenses: $32,500/year (Insurance, Utilities, Property Tax, Landscaping & Pest Control)
Ideal for either passive long-term hold or active short-term rental operator
Strong demand in this location for both tourist and workforce housing
Exceptional multifamily investment property located in the rapidly growing North Charleston submarket. This 8-unit apartment building has undergone major renovations in 2021, offering investors a turnkey asset with flexible income strategies.
Property Highlights:
Fully private & fenced-in property
Electric Gate Access
Enclosed storage on site
Unit Sizes ranging from approx. 300 to 900 SF
Advanced access control system for short or long term rentals
Major Renovations in 2021
Estimated 6,500sf total including common areas
Short-Term Rentals (Airbnb): Proven track record of approx. $288,000/year gross w/ $255k/yr NOI
Long-Term Leases: Approx. $212,000/year gross revenue w/ $180k/yr NOI
Operating Expenses: $32,500/year (Insurance, Utilities, Property Tax, Landscaping & Pest Control)
Ideal for either passive long-term hold or active short-term rental operator
Strong demand in this location for both tourist and workforce housing
Property Facts
| Price Per Unit | $344,495 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 12.77% | Building Size | 3,638 SF |
| Gross Rent Multiplier | 9.38 | Average Occupancy | 90% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 2.75/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R-1 - Zoned R-1 for single family residential, variance / specialty use 210 - SPCLTY-SMA allows for apartments on the property. | ||
| Price Per Unit | $344,495 CAD |
| Sale Type | Investment |
| Cap Rate | 12.77% |
| Gross Rent Multiplier | 9.38 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 3,638 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 2.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-1 - Zoned R-1 for single family residential, variance / specialty use 210 - SPCLTY-SMA allows for apartments on the property. |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
Site Amenities
- Controlled Access
- Courtyard
- Fenced Lot
- Gated
- Bicycle Storage
- Car Charging Station
- Community-Wide WiFi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 1 | - | - |
| Studios | 3 | - | - |
Property Taxes
| Parcel Number | 411-15-00-128 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $35,020 CAD |
Property Taxes
Parcel Number
411-15-00-128
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$35,020 CAD
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