5-Unit Apartment
1221 Sumner Avenue #A-E, North Charleston, SC 29406
For Sale
$825,000
Five one-bedroom residences combine conventional leases with short-term rental operations.
Property Size2,000 SF
Price / SF$412.50
Days on Market103
Property Features for 1221 Sumner Avenue #A-E
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Tenant in Place
Building Details
Year Built
Buildings
Construction
Tenancy
Listing Agency:
Maven Realty
Listed By:
Jacob Adamczak
Source:
Findhomessc
Added: Jul 30
Changed: Nov 9
Last Checked: Nov 8 at 7:46PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1973, this five-unit apartment property contains five one-bedroom, one-bathroom residences. All units are leased: three operate as long-term rentals and two as short-term rentals. The building has concrete block construction, a shingle roof, Romex wiring, and PVC/PEX plumbing. Renovations to Units C, D, and E were completed in 2024; other updates include refreshed interiors and a new mini-split system in Unit A in 2026.
At 1221 Sumner Avenue in North Charleston, the property is near Park Circle’s dining, breweries, and neighborhood retail. Rivers Avenue (US-52), I-526, and I-26 provide regional road connections. The site is in Flood Zone X.
At 1221 Sumner Avenue in North Charleston, the property is near Park Circle’s dining, breweries, and neighborhood retail. Rivers Avenue (US-52), I-526, and I-26 provide regional road connections. The site is in Flood Zone X.
Key Highlights
- Five one‑bedroom, one‑bathroom units
- Three long‑term rentals and two short‑term rentals; all units are leased
- Renovations to Units C, D, and E completed 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
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Five one-bedroom residences combine conventional leases with short-term rental operations.
Where is this apartment building located?
The property is located at 1221 Sumner Avenue #A-E 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 units; Three long‑term rentals and two short‑term rentals; all units are leased; Renovations to Units C, D, and E completed in 2024
