Renovated Multifamily
2220 Van Buren Avenue North Charleston, SC 29406
2220 Van Buren Avenue, North Charleston, SC, 29406
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For Sale
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Fully renovated 12-unit multifamily property in North Charleston, South Carolina.
Property Size6,432 SF
Price / SF$256.53
Days on Market142
Property Features for 2220 Van Buren Avenue
General Information
- Standard status
- Active
- Size
- 6,432 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2006
Listing Agency
eXp Realty
Listed by
Jason Smith · License #SC
Source
Crexi
Added: Feb 25 Checked: Jul 17 at 5:18 am
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 eXp Realty
Investment Insights
Based on property information with market context.
The property is a fully renovated 12-unit multifamily community located in North Charleston, South Carolina. It features a balanced unit mix of six one-bedroom and six two-bedroom apartments. The property has undergone a comprehensive interior and exterior renovation program. Interior upgrades include modernized kitchens and bathrooms, new cabinetry finishes, updated countertops, new fixtures, ceiling fans, flooring, paint, and electrical improvements, along with HVAC and water heater replacements as needed. Select units have also been enhanced with washer and dryer hookups. The exterior of the property has been significantly improved with new railings and stair systems, roof enhancements, parking lot concrete replacement, upgraded mailboxes, and refreshed landscaping. The property offers investors a turnkey opportunity with minimal near-term capital requirements. Strategically located near Interstate 26 and Interstate 526, the property provides convenient access to downtown Charleston, Joint Base Charleston, Boeing, the Port of Charleston, and major retail corridors, supporting strong rental demand and long-term investment stability. The property size is 6432 square feet.
Key Highlights
- Fully renovated 12‑unit multifamily community in North Charleston.
- Turnkey opportunity with minimal near‑term capital requirements.
- Convenient access to downtown Charleston, Joint Base Charleston, Boeing, and the Port of Charleston via Interstate 26 and Interstate 526.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $154.4k | $24.00 |
| − Vacancy | −$10.5k | −$1.63 |
| EGI | $143.9k | $22.37 |
| − OpEx | −$64.7k | −$10.07 |
| NOI | $79.1k | $12.30 |
6,432 SF · lease $24.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$989.1K – $1.32M
NOI $79,129 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,259 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully renovated 12-unit multifamily property in North Charleston, South Carolina.
Where is this apartment building located?
The property is located at 2220 Van Buren Avenue North Charleston, SC.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Fully renovated 12‑unit multifamily community in North Charleston.; Turnkey opportunity with minimal near‑term capital requirements.; Convenient access to downtown Charleston, Joint Base Charleston, Boeing, and the Port of Charleston via Interstate 26 and Interstate 526.
