A value-add opportunity located in Charleston’s West Ashley submarket.

Closing Announcement Summary

THIS ASSET HAS SOLD

THIS ASSET HAS SOLD

40-Year ownership of an asset in Charleston’s West Ashley submarket.

  • About the property.

    This is an off-market opportunity that I am selling on behalf of the original ownership. Built in 1984 and all townhouses, this property was originally designed to be condominium townhomes, but was a rental instead. The construction and layout are exceptional with dedicated dining rooms, walk-in laundry rooms, and a kitchen that is separated from the living space.

  • About the location.

    So this property is at the heart of Charleston’s West Ashley submarket, offering immediate access to Interstate 526 as well as all of the nightlife and retail that exists along Highway 17. The property is only 10 minutes from downtown Charleston and backs up to the marsh. Click the button below to view the location in Google Maps.

  • About the opportunity.

    I’ll be honest, I didn’t even know that this deal existed until the ownership called me to sell. It was at Main and Main, but off everyone’s radar. Average un-renovated rents are $800. 25% of the units have had impressive renovations and are currently rented for $1,400. Market for renovated rents is an easy $1,800-$2,000. This deal has a ton of upside.

Take a closer look.

I’ve got two videos put together for you to walk some units; both original and renovated.

FAQs

Open the links to the right or watch the short video below for quick answers to most of your initial questions.

  • Unpriced as this is an off-market transaction, but I would anticipate that the deal plays out around $150k/unit which is similar to another West Ashley asset that I just sold.

  • This is an off-market opportunity so you need to hustle. I’ll get you up to speed, but a tour is a requirement if you want me to advocate for your offer.

  • Original ownership, exceptionally well maintained, and about $1,000 under market rents. What are you waiting for?!!

  • If you’re looking at this page then you’ve already got the info. Dig into my underwriting, let’s have a chat, and plan a tour. I’m looking forward to seeing you in Charleston!

Introduction: Shaftswoods Townhouses

CONTACT

Chris Yeagle

EastGate Multifamily

183 Brady Street, Charleston, SC 29492

Cell: 843-860-6908

Email: chris@eastgatemultifamily.com

Licenses: FL: 3010970, GA: 220941, SC: 68049, NC: 299692