Two-Building Triplex
183 Smith Street, Charleston, SC 29403
For Sale
$1,725,000
Under Contract
Residential Income, Charleston, SC
Property Size3,932 SF
Lot Size0.12 Acres
Price / SF$438.71
Days on Market62
Property Features for 183 Smith Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Rooms
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
Size
Lot size
Additional Details
Tenant in Place
Utilities
Sewer type
Water source
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
King and Society Real Estate
Listed By:
Chris Anderson
Added: Sep 9
Changed: Oct 26
Last Checked: Nov 9 at 11:06PM
MLS# 26025369
Copyright © 2026 CHS Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1998, this triplex comprises two detached buildings on a 0.12-acre parcel. The front structure is a two-story residence with four bedrooms, two bathrooms, and 1,486 square feet. A second building contains two additional units, each offering three bedrooms, one bathroom, and 1,166 square feet. Off-street parking is included, and public water and sewer serve the property.
The asset is located two blocks from MUSC and within walking distance of the College of Charleston, King Street dining, and Upper King. DR-2F zoning applies, and the separate-building layout may support establishment of a condominium regime in the future. All three units are occupied, with leases in place through July 2027.
The asset is located two blocks from MUSC and within walking distance of the College of Charleston, King Street dining, and Upper King. DR-2F zoning applies, and the separate-building layout may support establishment of a condominium regime in the future. All three units are occupied, with leases in place through July 2027.
Key Highlights
- 1998‑built triplex on a 0.12‑acre parcel
- Two detached buildings with one 4BR/2BA residence and two 3BR/1BA units
- Front residence contains 1,486 SF; each rear unit contains 1,166 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,500
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,030,000
$1.0M
Cap Rate 7%
$735,714
$735.7K
Cap Rate 9%
$572,222
$572.2K
Market Conditions
NOI Build-Up for 3,932 SF
Gross rent
$77.9K $19.80/SF
− Vacancy
−$4.3K −$1.09/SF
EGI
$73.6K $18.71/SF
− OpEx
−$22.1K −$5.61/SF
NOI
$51.5K $13.10/SF
Area
Charleston, SC
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,030,000
Cap Rate 7%
$735,714
Cap Rate 9%
$572,222
Alternative Uses
Best Use
Multifamily LT 5
$735.7K
$643.8K – $858.3K
NOI $51,500 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$681.8K
$596.6K – $795.5K
NOI $47,727 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$1.06M
$931.1K – $1.24M
NOI $74,485 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7,054
Businesses Nearby
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Business Placement
Demographics for 29403, SC
21,363
Population
13,013
Households
1.6
Avg Household Size
30
Median Age
57%
College-Educated
92%
High-School Grad
5.4 sq mi
ZIP Area
3,956
Density / Sq Mi
$65,689
Median Household Income
$43,421
Median Earnings
$1,658
Median Rent
$624,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - DR-2F-zoned triplex with separate detached structures, off-street parking, and full occupancy under leases extending through July 2027.
Where is this triplex located?
The property is located at 183 Smith Street Charleston, SC.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: 1998‑built triplex on a 0.12‑acre parcel; Two detached buildings with one 4BR/2BA residence and two 3BR/1BA units; Front residence contains 1,486 SF; each rear unit contains 1,166 SF
