102 Line St Charleston, SC 29403
- Dormitories
- 12,177 SF
- 0.25 lot acres
Current Use by Public Records
- Dormitories
Property Details for 102 Line St
- Year built
- 2014
- Lot size
- 0.25 lot acres
- Property size
- 12,177 SF
- Property type
- Dormitories
- Property subtype
- Student housing
Description
This exceptional Class A multifamily investment property in downtown Charleston, SC, offers six luxurious townhouse-style units, each featuring four bedrooms and 4.5 bathrooms. Built in 2014, the three-building complex boasts a total of 12,177 square feet on a 0.25-acre lot, with 13 off-street parking spaces, including drive-under garages. Each unit includes a private rooftop deck, recently renovated in 2022 with new TPO roofs and decking. The units range in size from 1,859 to 2,195 square feet and feature modern upgrades, wood floors, and spacious layouts. Currently 100% occupied with leases in place for next year at increased rates, the property enjoys a 5.02% cap rate and a pro-forma cap rate of 6.17%, generating a pro-forma NOI of $370,000. The asking price is $5,995,000, representing a price per unit of $999,166.67 and a price per square foot of $492.32. Located at 102 Line St, Charleston, SC 29403, this property benefits from its prime downtown location, providing easy access to restaurants, shops, and entertainment. The DR-2F zoning allows for potential future development opportunities. This is a rare opportunity to acquire a high-performing, fully leased multifamily asset in a thriving Charleston market. The property's strong cash flow, combined with its potential for future appreciation, makes it an ideal investment for discerning buyers.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Charleston
- County
- Charleston
- State
- South Carolina
- Longitude
- -79.945440429479
- Latitude
- 32.794039860472
