125 Arbor Rd Summerville, SC 29485
- Commercial real estate
- 33,520 SF
- 1.25 lot acres
Current Use by Public Records
- Summer Square Apartments / Apartment Complex
Property Details for 125 Arbor Rd
- Lot size
- 1.25 lot acres
- Property size
- 33,520 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a portfolio of two adjacent multifamily communities in Summerville, South Carolina, located at 125 Arbor Rd and 520 Rose Ln, zip code 29485. The properties, known as Summer Square and Miles Landing, comprise a total of 36 units across six buildings, totaling 33,520 square feet on a 1.25-acre lot. Built in 1978 and 1983, these three-story buildings offer a mix of 26 two-bedroom and 10 one-bedroom units, currently boasting 90% occupancy. The average in-place rent is $1,300 per unit, while market averages suggest potential for increased rental income, with one-bedroom units averaging $1,446 and two-bedroom units averaging $1,635. This value-add opportunity is further enhanced by the existing agency debt financing, which is assumable, and the potential to sell individual units at Miles Landing as condos. The properties are zoned MF-R_SV, situated in a rapidly growing Charleston neighborhood, presenting a compelling investment in a highly desirable Southeast market. This package deal offers the unique advantage of acquiring an entire city block.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Summerville
- County
- Dorchester
- State
- South Carolina
- Longitude
- -80.1781415
- Latitude
- 32.996368
