4556 Oakwood AveNorth Charleston, SC 29405

Property Details for 4556 Oakwood Ave

Year built

1970

Lot size

0.90 AC

Property size (Sq ft)

4,698 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents three renovated duplex units situated on a 0.9-acre lot in desirable North Charleston, South Carolina. The property, located at 4556 Oakwood Ave, boasts a total of 4,698 square feet of net rentable space, with each unit offering approximately 900 square feet. Each unit features two bedrooms and one bathroom, an eat-in kitchen, and a living room, along with a washer and dryer. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $97,500, resulting in a compelling 6.09% cap rate. The asking price is $1,600,000, translating to $282.03 per square foot and $441,666.67 per unit. Built in 1970 and extensively renovated in 2023, this property benefits from a multi-family zoning designation, allowing for flexibility and potential future development. The property includes ample parking with two spaces per unit. Long-term tenants are currently in place, and current lease rates are below market value, presenting an immediate opportunity to increase revenue. This property is a short walk from the vibrant Park Circle area, offering convenient access to local amenities and attractions. The sale includes ownership at closing and is suitable for a 1031 exchange. The property's strong cash flow, prime location, and recent renovations make it an attractive investment for discerning buyers.

Location Insight

City

North Charleston

County

Charleston

State

South Carolina

Latitude

32.8768

Longitude

-79.9781

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