1111 Melvin Dr - Apartments FOR SALE


Hanahan, SC 29410
$2,850,000 USD
843-952-2267
1111 Melvin Dr, Hanahan, SC for Sale
$2,850,000 USD
Apartments - FOR SALE
1/4
null | 6.35% Cap Rate

1111 Melvin Dr
Hanahan, SC 29410


HIGHLIGHTS

  • Stabilized Multifamily Asset with Significant Value-Add Potential
  • Prime Location Just 12 Miles from Downtown Charleston
  • Proximity to Charleston Navy Yard Redevelopment, Only 4.6 Miles Away
  • Strong Tenant Demand in the Highly Regarded Berkeley County School District
  • Opportunity to Increase Rental Income Through Strategic Renovations
  • Located in a High-Growth Market with Strong Economic and Population Trends

OVERVIEW

Marcus & Millichap is pleased to present for sale the Melvin Apartments, a well-positioned multifamily property located at 1111 Melvin Drive in Hanahan, South Carolina. Situated just 12 miles from Downtown Charleston and 4.6 miles from the Charleston Navy Yard redevelopment, this asset offers investors a strategic location within a growing and high-demand rental market. The stabilized asset presents a compelling value-add opportunity through targeted interior and exterior enhancements. Thoughtfully maintained by current ownership, Melvin Apartments underwent renovations in 2023-2025, modernizing the interior to attract long-term tenants. New ownership can capitalize on the ability to increase rental income by implementing strategic upgrades to further align with market demand. Located within the highly regarded Berkeley County School District, the Melvin Apartments benefit from strong tenant demand driven by proximity to quality education, major employment hubs, and Charleston’s thriving economy. With Charleston’s continued population growth and limited housing supply, this asset is well-positioned for long-term appreciation and strong investment returns.

FOR SALE DETAILS

PRICE

$2,850,000 USD

PRICE/SF

$158 USD /SF

# OF UNITS

19

PRICE/UNIT

$150,000

CAP RATE

6.35%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,960 SF

ZONING

RM

APN/PARCEL ID

265-16-04-029

ASK ABOUT THIS PROPERTY

William GravesMarcus & MillichapMore Info
843-952-2267

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William GravesMarcus & MillichapMore Info
843-952-2267

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.