5-Unit Apartment
1221 Sumner Ave, North Charleston, SC 29406
For Sale
$825,000
Three long-term rentals and two short-term rentals provide distinct operating formats within the same property.
Property Size2,000 SF
Price / SF$412.50
Days on Market129
Property Features for 1221 Sumner Ave
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Tenant in Place
Building Details
Year Built
Year Renovated
Construction
Listing Agency:
Maven Realty
Listed By:
Jacob Adamczak
Source:
Yourcharlestonhomelistings
Added: Jul 6
Changed: Nov 10
Last Checked: Nov 10 at 2:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Maven Realty
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Investment Insights
Based on property information with market context.
This 2,000-square-foot apartment property contains five one-bedroom, one-bathroom units. Three are operated as long-term rentals and two as short-term rentals; all five are leased. Units C, D, and E received renovations in 2024, including updates to finishes and building systems. The structure was built in 1973 with concrete block construction, a shingle roof, Romex wiring, and PVC/PEX plumbing.
The property is in Flood Zone X and is located near Park Circle’s dining, breweries, and neighborhood retail. Rivers Avenue (US-52), I-526, and I-26 provide routes to Downtown Charleston, Daniel Island, and the wider Charleston area. Nearby employment destinations include Boeing, Joint Base Charleston, Mercedes-Benz Vans, Charleston International Airport, and the Naval Yard redevelopment corridor.
The property is in Flood Zone X and is located near Park Circle’s dining, breweries, and neighborhood retail. Rivers Avenue (US-52), I-526, and I-26 provide routes to Downtown Charleston, Daniel Island, and the wider Charleston area. Nearby employment destinations include Boeing, Joint Base Charleston, Mercedes-Benz Vans, Charleston International Airport, and the Naval Yard redevelopment corridor.
Key Highlights
- Five one‑bedroom, one‑bathroom apartments totaling 2,000 square feet
- All five units are leased: three long‑term rentals and two short‑term rentals
- Units C, D, and E renovated in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,605
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,100
$492.1K
Cap Rate 7%
$351,500
$351.5K
Cap Rate 9%
$273,389
$273.4K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$48.0K $24.00/SF
− Vacancy
−$3.3K −$1.63/SF
EGI
$44.7K $22.37/SF
− OpEx
−$20.1K −$10.07/SF
NOI
$24.6K $12.30/SF
Area
North Charleston, SC
Vacancy
6.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,100
Cap Rate 7%
$351,500
Cap Rate 9%
$273,389
Alternative Uses
Best Use
Apartment 5plus
$351.5K
$307.6K – $410.1K
NOI $24,605 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.1K
$475.2K – $633.6K
NOI $38,016 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 29406, SC
32,730
Population
14,542
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
82%
High-School Grad
15.3 sq mi
ZIP Area
2,139
Density / Sq Mi
$50,640
Median Household Income
$36,741
Median Earnings
$1,305
Median Rent
$209,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Three long-term rentals and two short-term rentals provide distinct operating formats within the same property.
Where is this apartment building located?
The property is located at 1221 Sumner Ave North Charleston, SC.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Five one‑bedroom, one‑bathroom apartments totaling 2,000 square feet; All five units are leased: three long‑term rentals and two short‑term rentals; Units C, D, and E renovated in 2024
