Four-Unit Quadplex with New
For Sale
$1,000,000
Pending
1290 Sumner Ave, North Charleston, SC 29406
Four residential units offer townhome-scale layouts, central HVAC, and washer/dryer hookups in a multifamily income property.
Property Size5,376 SF
Days on Market67
Property Features for 1290 Sumner Ave
General Information
Standard status
Pending
Size
5,376 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$90,000
Amenities
central hvac
washer / dryer hookups
shed
Building Details
Year Built
2005
Listing Agency:
The Boulevard Company
(843) 806-9830
Listed By:
Cory Cockrell
Source:
Charlestonareahousehunt
Added: Jun 25
Changed: Aug 28
Last Checked: Aug 25 at 6:01AM
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 The Boulevard Company
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 5,376 square feet across four 3BR / 2BA residences, each measuring 1,344 square feet. The townhome-scale layouts include central HVAC and washer/dryer hookups, while a backyard shed adds storage. Constructed in 2005, the property received a new roof and gutters in 2022.
Located at 1290 Sumner Ave in North Charleston, the quadplex sits 1.5 miles from Park Circle. Tenants pay all utilities, and one unit is scheduled to become available September 1st. The property also includes four residential units configured for multifamily income use.
Located at 1290 Sumner Ave in North Charleston, the quadplex sits 1.5 miles from Park Circle. Tenants pay all utilities, and one unit is scheduled to become available September 1st. The property also includes four residential units configured for multifamily income use.
Key Highlights
- Four 3BR / 2BA units, each measuring 1,344 Square Feet
- 5,376‑square‑foot multifamily property
- New roof and gutters installed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,965
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,419,300
$1.4M
Cap Rate 7%
$1,013,786
$1.0M
Cap Rate 9%
$788,500
$788.5K
Market Conditions
NOI Build-Up for 5,376 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$108.4K $20.16/SF
− Vacancy
−$7.0K −$1.30/SF
EGI
$101.4K $18.86/SF
− OpEx
−$30.4K −$5.66/SF
NOI
$71.0K $13.20/SF
Area
North Charleston, SC
Vacancy
6.46%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,419,300
Cap Rate 7%
$1,013,786
Cap Rate 9%
$788,500
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$887.1K – $1.18M
NOI $70,965 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$944.8K
$826.7K – $1.10M
NOI $66,138 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,187 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer townhome-scale layouts, central HVAC, and washer/dryer hookups in a multifamily income property.
Where is this quadplex located?
The property is located at 1290 Sumner Ave North Charleston, SC.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four 3BR / 2BA units, each measuring 1,344 Square Feet; 5,376‑square‑foot multifamily property; New roof and gutters installed in 2022
