1815 Sumner Ave - Apartments FOR SALE


Charleston, SC 29406
$4,350,000 USD
843-952-2267
1815 Sumner Ave, Charleston, SC for Sale
$4,350,000 USD
Apartments - FOR SALE
1/5
null | 6.14% Cap Rate

1815 Sumner Ave
Charleston, SC 29406


HIGHLIGHTS

  • High-Quality Property with Interior and Exterior Renovations Completed in 2023
  • Fully Stabilized Asset with Strong Rental History
  • Situated Ten Miles from Downtown Charleston, Four Miles to the Navy Yard Development
  • Poised for Long-Term Appreciation and Strong Returns

OVERVIEW

Marcus & Millichap is pleased to present for sale the Sumner Place Apartments, a fully renovated multifamily community located at 1815 Sumner Avenue in North Charleston, South Carolina. The high-quality asset was modernized with extensive interior and exterior renovations, which were completed in 2023. Sumner Place Apartments also benefits from its proximity to the rapidly growing metro that surrounds it, situated just 10 miles from downtown Charleston and only four miles from the Storehouse Nine Navy Yard Development. Storehouse Nine, a historic Navy storehouse, has been redeveloped into 78 boutique live/work units within Navy Yard Charleston in North Charleston. The four-story building caters to a flexible workforce, alongside maker studios, retail, and an upcoming rooftop restaurant. Part of an 85-acre redevelopment led by Jamestown, Weaver Capital Partners, and WECCO Development, the project includes Storehouse Eight, office and event space, a landscaped plaza with seasonal events, and access to Riverfront Park and a private social club. Charleston continues to attract strong job growth across diverse industries, including aerospace, manufacturing, and technology, further driving demand for quality rental housing. This offering presents a rare opportunity to acquire a turnkey, stabilized multifamily asset with a strong rental history in one of the Southeast’s most dynamic markets. With a well-established rental base and access to major employment centers, the Sumner Place Apartments are poised for long-term appreciation and strong returns.

FOR SALE DETAILS

PRICE

$4,350,000 USD

PRICE/SF

$211 USD /SF

# OF UNITS

24

PRICE/UNIT

$181,250

CAP RATE

6.14%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sumner Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,450 SF

ZONING

MF

APN/PARCEL ID

473-13-00-046

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.