24-Unit Renovated Apartment
1731 W Avalon Cir & 1724 Ashley Hall Rd, Charleston, SC 29407
For Sale
$3,600,000
Two adjoining brick buildings offer updated interiors, on-site laundry, and a renovated building exterior.
Property Size16,800 SF
Lot Size0.75 Acres
Price / SF$214.29
Days on Market20
Property Features for 1731 W Avalon Cir & 1724 Ashley Hall Rd
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
on-site laundry
Lot Size Acres: 0.75
Sewer Type: Municipal
Total Taxes: $38,306, Tax Year: 2025, Percentage of Tax that is Deductable: 0
Sale, Sale Type: Foreclosure
School District: Charleston County School District
Building Style: Walk-up, 2 Stories, Built in 1971, Renovation Year: 2024, Community Laundry
Neighborhood Name: West Ashley
Property Zone Type: 100, Above Area Square Feet: 16800, Business Complex Name: The Avalon
24 Full Baths
Water Source: Municipal
Construction Type: Masonry - Brick
Brick Siding
Building Details
Year Built
Buildings
Stories
Construction
Listing Agency:
US DEVELOPMENTS LLC
Listed By:
Jeffrey Shugarts
(704) 576-4322
Source:
Doyle-realty
Added: Oct 21
Changed: Nov 9
Last Checked: Nov 8 at 5:52PM
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 US DEVELOPMENTS LLC
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Investment Insights
Based on property information with market context.
The Avalon comprises 24 one-bedroom, one-bath apartments across two adjoining, two-story brick buildings at 1731 W Avalon Cir and 1724 Ashley Hall Rd in Charleston. Each apartment contains 700 SF, for 16,800 SF across the property, which occupies 0.75 acres. Interior updates include LVP flooring, white shaker cabinets, newer countertops, stainless steel appliances, and refreshed bathrooms. An on-site laundry room operates on a pay-per-use basis, and tenants pay their own electric service.
Constructed in 1971 and 1972, the buildings received substantial exterior and systems work. Roofs and windows were replaced in 2024, and the exteriors, stairs, and railings have been updated. Six HVAC systems and five water heaters have also been replaced. The property is 23 of 24 units occupied, with eight new leases signed since April.
Constructed in 1971 and 1972, the buildings received substantial exterior and systems work. Roofs and windows were replaced in 2024, and the exteriors, stairs, and railings have been updated. Six HVAC systems and five water heaters have also been replaced. The property is 23 of 24 units occupied, with eight new leases signed since April.
Key Highlights
- 24 one‑bedroom, one‑bath apartments in two adjoining, two‑story brick buildings
- 16,800 SF total; 700 SF per apartment
- Property occupies 0.75 acres in Charleston
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,922
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,078,440
$4.1M
Cap Rate 7%
$2,913,171
$2.9M
Cap Rate 9%
$2,265,800
$2.3M
Market Conditions
NOI Build-Up for 16,800 SF
Gross rent
$391.1K $23.28/SF
− Vacancy
−$20.3K −$1.21/SF
EGI
$370.8K $22.07/SF
− OpEx
−$166.8K −$9.93/SF
NOI
$203.9K $12.14/SF
Area
Charleston, SC
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,078,440
Cap Rate 7%
$2,913,171
Cap Rate 9%
$2,265,800
Alternative Uses
Best Use
Apartment 5plus
$2.91M
$2.55M – $3.40M
NOI $203,922 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.55M
$3.98M – $5.30M
NOI $318,246 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
24
Residential units
95.8%
Occupancy
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 29407, SC
35,373
Population
18,723
Households
1.9
Avg Household Size
39
Median Age
51%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
2,297
Density / Sq Mi
$80,568
Median Household Income
$51,827
Median Earnings
$1,388
Median Rent
$407,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two adjoining brick buildings offer updated interiors, on-site laundry, and a renovated building exterior.
Where is this apartment building located?
The property is located at 1731 W Avalon Cir & 1724 Ashley Hall Rd Charleston, SC.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 24 one‑bedroom, one‑bath apartments in two adjoining, two‑story brick buildings; 16,800 SF total; 700 SF per apartment; Property occupies 0.75 acres in Charleston
