5527 Read St - Apartments FOR SALE


Charleston, SC 29406
$4,200,000 USD
843-952-2267
5527 Read St, Charleston, SC for Sale
$4,200,000 USD
Apartments - FOR SALE
1/4
null | 6.78% Cap Rate

5527 Read St
Charleston, SC 29406


HIGHLIGHTS

  • Fully Stabilized Multifamily Asset with Strong Occupancy Rates
  • Interior Renovations Completed in 2022, Enhancing Unit Appeal
  • Located 12 Miles from Downtown Charleston, Providing Access to a Major Employment Hub
  • Only 4.7 Miles from the Charleston Navy Yard Development, a Growing Mixed-Use Redevelopment Project
  • Positioned for Continued Natural Rent Growth in a High-Demand Rental Market

OVERVIEW

Marcus & Millichap is pleased to present for sale Read Street Apartments, a fully stabilized multifamily property located at 5527 Read Street in North Charleston, South Carolina. Situated just 12 miles from downtown Charleston and 4.7 miles from the Charleston Navy Yard Development, the property benefits from rapid regional growth and increasing rental demand. Thoughtfully maintained by current ownership, Read Street Apartments underwent renovations in 2023-2025, modernizing the interior to attract long-term tenants. With a fully stabilized occupancy, the property is well-positioned for continued natural rent growth, offering investors a turnkey asset in a high-demand rental market with long-term appreciation. North Charleston remains one of the fastest-growing submarkets in the region, driven by strong employment opportunities in aerospace, manufacturing, and technology. This investment presents an excellent opportunity to acquire a well-maintained multifamily property in one of the Southeast’s most dynamic markets.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$188 USD /SF

# OF UNITS

28

PRICE/UNIT

$150,000

CAP RATE

6.78%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Read Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

32

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

50,965 SF

ZONING

-

APN/PARCEL ID

473-14-00-091

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.