Marcus & Millichap Sells Clement Arms Apartments In North Charleston, SC For $5.44M
1815 Clement Avenue
$5,440,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 11, 2023
AI
Clement Arms Apartments, a 49-unit multifamily community located at 1815 Clement Avenue in North Charleston, South Carolina, has been sold for $5.44 million. The property spans across 1.24 acres and was brokered by Nate McDaniel, Ryan Lipomi, and William Graves of Marcus & Millichap.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,440,000
- Units: 49
- Price Per Unit: $111,020
- Address: 1815 Clement Avenue
- Market: North Charleston, SC
Marcus & Millichap facilitated the sale of Clement Arms Apartments, a multifamily community comprising 49 units in North Charleston, South Carolina. The transaction, valued at $5.44 million, was successfully concluded by the brokerage team led by Nate McDaniel, Ryan Lipomi, and William Graves.
Players
North Charleston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.92%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93