132 Smith Street, Charleston, SC 29403

$4,785,000

Virtual Tour

http://www.twinriverscap.com/test/video.mp4

Property Type: MultiFamily Square Footage: 20,599 Lot Size (sq. ft.): 23,958 Status: Closed

Current Price: $4,785,000 List Date: 7/22/2015 Last Modified: 5/02/2023

Overview

Description

** Due to the demand of this property we will be having a Call to Offers. The deadline for offers will be on 8/20/15. Please call listing broker for details.** This is 14 units within 4 buildings in the heart of downtown. The property has been used as college rentals with the average increase in rents going up at least 5%/year. Great rental history with the only vacancies attributed to construction during upgrades. There is room for another structure in the rear. There is also value add opportunities with upgrades to the buildings and ultimately the possibility of making this a condo project. A majority of leases are signed thru 7/16. Each multi bedroom unit is allotted 2 off street parking spaces and the 1 bedroom unit is allotted 1 off street parking space.

Listing Details MLS# 15019405

Location, Tax & Legal

Tax Map #: 4601601097
Street #: 132
Street Name: Smith
Street Suffix: Street
County: Charleston
State: SC
Zip Code: 29403
Area: 51 – Peninsula Charleston Inside of Crosstown
Tax District: 71 – City of Charleston
Subdivision: Radcliffeborough
Elementary School: Memminger
Middle School: Simmons Pinckney
High School: Burke
Directions: https://goo.gl/maps/S4x1U
Legal Description: NE SMITH AND VANDERHORST

Contract Info

MLS List Date: 2015-07-22
Primary Structure List Price/SqFt: 228.17

General Property Info

Number of Units: 14
# Stories: 3
Ground Level: No
Primary Structure Apx SqFt: 20599
Year Built: 1800
Acreage: 0.55
Lease Purchase: No
Potential Short Sale: No

Income Expenses Fees

Annual Expenses: 92638
Net Income: 356162

Status Change Info

Sold Date: 2015-12-11
Sold Price/SqFt: 232.29
New Mortgage Type: Conventional

Income, Expenses & Fees

Gross Income: 448800

More Information

SqFt Source

Tax Records: Yes

Zoning

Conforming: Yes

Architectural Style

Other: Yes

New Owned/Pre-owned

Pre-Owned: Yes

Cooling

Central Air: Yes
Window Unit(s): Yes

Heat

Electric: Yes
Forced Air: Yes
Heat Pump: Yes
See Remarks: Yes

Sale Includes

Building Only: Yes
Other (Use Remarks): Yes

Proposed Financing

Cash: Yes
Conventional Loan: Yes
FHA Loan: Yes

Tenant Pays

All Utilities: Yes

Possession

At Closing: Yes

Water/Sewer

Public Sewer: Yes

Utility Suppliers

SCE & G: Yes

Property Features

SqFt Source: Tax Records Architectural Style: Other Zoning: Conforming Cooling: Central Air; Window Unit(s) Heat: Electric; Forced Air; Heat Pump; See Remarks Sale Includes: Building Only; Other (Use Remarks) Tenant Pays: All Utilities Proposed Financing: Cash; Conventional Loan; FHA Loan Possession: At Closing Utility Suppliers: SCE & G

Documents

Lead Paint Disclosure ›

Listing Office: Twin Rivers Capital LLC

Last Updated: May – 02 – 2023

Properties marked with IDX logo are provided courtesy of Charleston Trident Multiple Listing Service, Inc. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than the website owner are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing this data believes it to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Information is provided exclusively for consumers’ personal, non-commerical use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

132 Smith Street, Charleston, SC 29403 (MLS# 15019405)