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Marcus & Millichap Sells Clement Arms Apartments In North Charleston, SC For $5.44M

Property Image
SOLD
$5,440,000
William Graves
Ryan Lipomi
Nate McDaniel

South Carolina

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MultiFamily
Sold 10/11/2023
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Sells Clement Arms Apartments In North Charleston, SC For $5.44M

1815 Clement Avenue

See Similar Deals
MultiFamily
Sold 10/11/2023
William Graves
Ryan Lipomi
Nate McDaniel
the dealplayerscompscontact
Contact now

Summary

SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale

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

William Graves
Marcus & Millichap
William Graves
8 deals$44.1M volume
BROKER
Nate McDaniel
Marcus & Millichap
Nate McDaniel
4 deals$31.1M volume
BROKER
Ryan Lipomi
Marcus & Millichap
Ryan Lipomi
7 deals$42.4M volume
BROKER

Details

SOLD
IMAGE: William Graves, Ryan Lipomi & Nate McDaniel DATE: 10/11/2023 ADDRESS: 1815 Clement Avenue MARKET: North Charleston, SC ASSET TYPE: Multifamily ~ ACRES: 1.24 BROKERS: Nate McDaniel, Ryan Lipomi & William Graves - Marcus & Millichap SALE PRICE: $5,440,000 UNITS: 49 ~ PPU: $111,020 NOTE: Marcus & Millichap has announced the sale of Clement Arms Apartments, a 49-unit multifamily community in North Charleston, South Carolina, for $5.44 million.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$290,133.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,327.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,788.38
Annual Debt Service$309,460.50