10-Unit Apartment Building
For Sale
$1,900,000
4345 Leslie Street, North Charleston, SC 29418
Residential Income, North Charleston, SC
Property Size8,928 SF
Lot Size1.22 Acres
Price / SF$212.81
Days on Market47
Property Features for 4345 Leslie Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Fetteressa
Elementary school
Goodwin
Middle school
Jerry Zucker
High school
Stall
Directions
Head Southeast On I-26 E. Take Exit 213 A To Merge Onto W Montague Ave. Turn Right Onto Dorchester Rd. Turn Left Onto Leslie St. Destination Will Be On The Left
Standard status
Active
Size
8,928 SF
Lot size
1.22 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer hookups
Building Details
Year built
1973
Floors in Building
1
Number of units
10
Listing Agency:
The Boulevard Company
(843) 806-9830
Listed By:
Cory Cockrell
(843) 819-2555
Added: Aug 8
Changed: Aug 19
Last Checked: Sep 23 at 12:06AM
MLS# 26022633
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.
Investment Insights
Based on property information with market context.
This apartment portfolio includes 10 units distributed among five duplex buildings on a 1.22-acre multifamily-zoned parcel. The unit mix consists of five 3-bedroom/1-bath units, four 2-bedroom/1-bath units, and one 2-bedroom/1.5-bath unit. Each residence includes central air and washer/dryer hookups, while electricity and water are separately metered and paid by tenants. The improvements total 8,928 square feet and were built in 1973.
Public water and sewer serve the property. A signed engineer letter indicates that 2 additional multifamily units may be built on the site, subject to buyer verification and required approvals. The property is located at 4345 Leslie Street in North Charleston, South Carolina, near I-526, the airport, Joint Base Charleston, and the future Roper Hospital campus.
Public water and sewer serve the property. A signed engineer letter indicates that 2 additional multifamily units may be built on the site, subject to buyer verification and required approvals. The property is located at 4345 Leslie Street in North Charleston, South Carolina, near I-526, the airport, Joint Base Charleston, and the future Roper Hospital campus.
Key Highlights
- 10 units across five duplex buildings
- 1.22‑acre multifamily‑zoned lot
- Unit mix: five 3‑bedroom/1‑bath, four 2‑bedroom/1‑bath, and one 2‑bedroom/1.5‑bath units
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
$109,836
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
5.78%
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%
$2,196,720
$2.2M
Cap Rate 7%
$1,569,086
$1.6M
Cap Rate 9%
$1,220,400
$1.2M
Market Conditions
NOI Build-Up for 8,928 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
$214.3K $24.00/SF
− Vacancy
−$14.6K −$1.63/SF
EGI
$199.7K $22.37/SF
− OpEx
−$89.9K −$10.07/SF
NOI
$109.8K $12.30/SF
Area
North Charleston, SC
Vacancy
6.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,196,720
Cap Rate 7%
$1,569,086
Cap Rate 9%
$1,220,400
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,836 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,703 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Explore this area
Business Placement
Demographics for 29418, SC
24,154
Population
12,334
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
1,830
Density / Sq Mi
$62,421
Median Household Income
$41,287
Median Earnings
$1,277
Median Rent
$234,500
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five duplex buildings offer separately metered utilities, central air, and washer/dryer hookups in every unit.
Where is this apartment building located?
The property is located at 4345 Leslie Street North Charleston, SC.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 10 units across five duplex buildings; 1.22‑acre multifamily‑zoned lot; Unit mix: five 3‑bedroom/1‑bath, four 2‑bedroom/1‑bath, and one 2‑bedroom/1.5‑bath units
