Improved Four-Unit Investment
New
For Sale
$409,900
204 A St., Georgetown, SC 29440
MULTI-FAMILY, Georgetown, SC
Property Size3,000 SF
Lot Size0.21 Acres
Price / SF$136.63
Days on Market2
Property Features for 204 A St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
City Of Georgetown
Lot features
Rectangular, Inside City Limits
Elementary school
Kensington Elementary School
Middle school
Georgetown Middle School
High school
Georgetown High School
Standard status
Active
Size
3,000 SF
Lot size
0.21 Acres
Utilities
Utilities
Cable Available
Building Details
Year built
1999
Number of units
4
Listing Agency:
INNOVATE Real Estate
(843) 267-4627
Listed By:
Russelling the Beach Team · License #18594
(843) 325-9732
Added: Sep 21
Last Checked: Sep 22 at 11:06PM
MLS# 2623313
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex contains four residential units, each configured with two bedrooms and one bathroom. The property encompasses approximately 3,000 square feet on about 0.21 acres and was built in 1999. Repairs and improvements have been completed throughout the asset, with a detailed update list available upon request.
All four units are leased, and the newest tenant is scheduled to move in on September 25, 2026. The property is located at 204 A St. in Georgetown, South Carolina, a short distance from historic Downtown Georgetown. Two adjoining lots are also available separately, offering a nearby expansion consideration subject to independent verification of zoning, density, utilities, permitting, and development requirements.
All four units are leased, and the newest tenant is scheduled to move in on September 25, 2026. The property is located at 204 A St. in Georgetown, South Carolina, a short distance from historic Downtown Georgetown. Two adjoining lots are also available separately, offering a nearby expansion consideration subject to independent verification of zoning, density, utilities, permitting, and development requirements.
Key Highlights
- Four residential units, each with 2 bedrooms and 1 bathroom
- Approximately 3,000 square feet on 0.21 acres
- All four units are leased
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
$27,989
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
6.83%
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%
$559,780
$559.8K
Cap Rate 7%
$399,843
$399.8K
Cap Rate 9%
$310,989
$311.0K
Market Conditions
NOI Build-Up for 3,000 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
$40.7K $13.56/SF
− Vacancy
−$696 −$0.23/SF
EGI
$40.0K $13.33/SF
− OpEx
−$12.0K −$4.00/SF
NOI
$28.0K $9.33/SF
Area
Georgetown County, SC
Vacancy
1.71%
Lease Rate
$13.56 /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%
$559,780
Cap Rate 7%
$399,843
Cap Rate 9%
$310,989
Alternative Uses
Best Use
Multifamily LT 5
$399.8K
$349.9K – $466.5K
NOI $27,989 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$355.5K
$311.1K – $414.8K
NOI $24,888 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$822.9K
$720.0K – $960.0K
NOI $57,600 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 29440, SC
27,451
Population
13,845
Households
2
Avg Household Size
46
Median Age
23%
College-Educated
89%
High-School Grad
523.1 sq mi
ZIP Area
52
Density / Sq Mi
$54,926
Median Household Income
$33,636
Median Earnings
$912
Median Rent
$160,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - All residences are leased, with recent repairs and improvements completed across the property.
Where is this quadplex located?
The property is located at 204 A St. Georgetown, SC.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 1 bathroom; Approximately 3,000 square feet on 0.21 acres; All four units are leased
