Three-Unit Multifamily
For Sale
$429,500
2205 Russelldale Ave, North Charleston, SC 29406
Multifamily asset with two two-bedroom units and one one-bedroom unit, each offering one bathroom.
Property Size1,820 SF
Price / SF$235.99
Days on Market122
Property Features for 2205 Russelldale Ave
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Furnished
No
Highway Access
Yes
Building Details
Year Built
1964
Listing Agency:
Matt O'Neill Real Estate
Listed By:
Elliot Sperling · License #130176
(843) 654-7777
Source:
Charlestonareahomeseeker
Added: Jun 18
Changed: Oct 16
Last Checked: Sep 26 at 7:36AM
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 Matt O'Neill Real Estate
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Investment Insights
Based on property information with market context.
Built in 1964, this 1,820-square-foot triplex at 2205 Russelldale Avenue includes two two-bedroom, one-bathroom residences and one one-bedroom, one-bathroom residence. The three-unit configuration provides a clearly defined mix within a single multifamily property.
The property is located in North Charleston with convenient regional access. I-526 is approximately one-half mile away, while I-26 is just over one mile from the property. Park Circle is two miles away, Tanger Outlets is three miles away, Charleston International Airport is 3.5 miles away, and downtown Charleston is under six miles away.
The property is located in North Charleston with convenient regional access. I-526 is approximately one-half mile away, while I-26 is just over one mile from the property. Park Circle is two miles away, Tanger Outlets is three miles away, Charleston International Airport is 3.5 miles away, and downtown Charleston is under six miles away.
Key Highlights
- Three‑unit triplex configuration
- Unit mix includes two 2‑bedroom, 1‑bathroom units and one 1‑bedroom, 1‑bathroom unit
- 1,820 SF property built in 1964
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,025
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,500
$480.5K
Cap Rate 7%
$343,214
$343.2K
Cap Rate 9%
$266,944
$266.9K
Market Conditions
NOI Build-Up for 1,820 SF
Gross rent
$36.7K $20.16/SF
− Vacancy
−$2.4K −$1.30/SF
EGI
$34.3K $18.86/SF
− OpEx
−$10.3K −$5.66/SF
NOI
$24.0K $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 Rate 5%
$480,500
Cap Rate 7%
$343,214
Cap Rate 9%
$266,944
Alternative Uses
Best Use
Multifamily LT 5
$343.2K
$300.3K – $400.4K
NOI $24,025 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$319.9K
$279.9K – $373.2K
NOI $22,390 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$494.2K
$432.4K – $576.6K
NOI $34,595 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily asset with two two-bedroom units and one one-bedroom unit, each offering one bathroom.
Where is this triplex located?
The property is located at 2205 Russelldale Ave North Charleston, SC.
What is the asking price?
The asking price for this property is $429,500.
What are key features of this property?
This property features: Three‑unit triplex configuration; Unit mix includes two 2‑bedroom, 1‑bathroom units and one 1‑bedroom, 1‑bathroom unit; 1,820 SF property built in 1964
