Renovated 24-Unit Apartment
1731 W Avalon Cir, Charleston, SC 29407
For Sale
$3,600,000
Business Opportunity, Charleston, SC
Property Size16,800 SF
Lot Size0.75 Acres
Price / SF$214.29
Days on Market18
Property Features for 1731 W Avalon Cir
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Subdivision
High school district
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Water source
Amenities
on-site laundry
Building Details
Year built
Floors in Building
Building materials
Architectural style
Buildings
Listing Agency:
US DEVELOPMENTS LLC
Listed By:
(704) 576-4322
Added: Oct 21
Changed: Nov 6
Last Checked: Nov 7 at 9:06PM
MLS# 12059056
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 24-unit property comprises two adjoining, two-story brick buildings constructed in 1971 and 1972. Each apartment has one bedroom, one bathroom and 700 square feet, for a combined 16,800 square feet on 0.75 acres. Renovated interiors include LVP flooring, white shaker cabinets, updated countertops, stainless steel appliances and refreshed bathrooms. A shared laundry room operates on a pay-per-use basis, and residents pay their own electric service.
Roofing and windows were replaced in 2024, and the exteriors received paint. Stairways and railings were updated; six HVAC systems and five water heaters were also replaced. At the time described, 23 of the 24 apartments were occupied, with eight new leases signed since April. The property is in West Ashley, Charleston, at 1731 W Avalon Cir and 1724 Ashley Hall Rd.
Roofing and windows were replaced in 2024, and the exteriors received paint. Stairways and railings were updated; six HVAC systems and five water heaters were also replaced. At the time described, 23 of the 24 apartments were occupied, with eight new leases signed since April. The property is in West Ashley, Charleston, at 1731 W Avalon Cir and 1724 Ashley Hall Rd.
Key Highlights
- 24 apartments, each with one bedroom, one bathroom and 700 SF
- 16,800 SF across two adjoining two‑story brick buildings on 0.75 acres
- All 24 apartments renovated with LVP flooring, shaker cabinets, stainless appliances and updated baths
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
24
Residential units
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
Check the figures for this property
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 - Two adjoining brick buildings offer one-bedroom residences with updated interiors and a shared pay-per-use laundry room.
Where is this apartment building located?
The property is located at 1731 W Avalon Cir 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 apartments, each with one bedroom, one bathroom and 700 SF; 16,800 SF across two adjoining two‑story brick buildings on 0.75 acres; All 24 apartments renovated with LVP flooring, shaker cabinets, stainless appliances and updated baths
