1815 Sumner Ave. North Charleston, SC 24 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 24 unit multifamily offering located just outside of Park Circle in North Charleston, SC. This offering boasts excellent financial performance in the fastest growing corridor of the Charleston MSA. The property has been professionally managed and maintained with very little tenant turnover and nearly 100% occupancy since current ownership has taken over.

Address

1815 Sumner Ave. North Charleston, SC 29405

Mix

Sumner | 24 Units | 2 Bd 1 Ba | ±832sf

Price

Call for Offers

Building Breakdown

1 :: Units 1 - 8

2 :: Units 9 - 16

3 :: Units 17- 24

Presented by Buckley T Powell, email, cell

TMS# :: 473-13-00-046

Flood Zone :: X (Firmette)

Acreage :: 1.25

RBA: 20,568SF

Construction :: Brick

Vintage :: 1973

Roof Age :: 2011 (25yr Shingles)

HVAC :: Central (Varying Vintages)

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

Sumner :: $840 all across, Tenants Pay Electricity, Landlord Covers Water/Sewer

T-12 & RR (.xls)

2021 Property Taxes

Sumner :: $13,610 @ $1,461,600 TMV

Presented by Buckley T Powell, email, cell

Sumner has 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, as observed in the 2021 operating statements.

Value-Add Opportunities

Add Laundry services (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

Sumner apartments is 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