Highlights

• Deep water waterfront townhome community in desirable Charleston, SC location, very close to new Boeing facility
• 18 completed units ready for immediate sale and/or cash flow
• Remainder of project could be built at buyer's pace, or even used as income property during build out

• Current rental income averages about $1,150 per unit
• Excellent amenities include "River Club" with pool, tennis, clubhouse, boat ramp, dock
• Investment provides Return on Equity of 2.6x and IRR of more than 30%

Description

Selling final phase in this established, successful project with motivated Seller and reduced price. Ashley River Commons is a planned community of about 160 townhomes on the banks of the historic Ashley River outside of Charleston, SC (80+ units already sold/closed). Very close to N. Charleston's new Boeing facility.

Sale includes 18 built units (ready to be occupied) and at least 58 approved units. Estimated that project has well over $11M in potential profit from sales after build out. The community features the completed "River Club", which includes a clubhouse with pool and tennis courts, a boat ramp and dock on the deep water Ashley River, as well as walking trails, ponds and other amenities.

Developer needs to focus on other projects, and is motivated to sell the remainder of this successful project. Sale includes:

-18 built units in Phase 2A (allows buyer to have immediate sales/cash flow without construction delay w/units ready to be sold at a pricing of approx $200k-$250k, or can lease)(total units subject to adjustment for sales)
-16 entitled units in 2 already fully-built bldg pads, and
-42 entitled units in Phase 2B plan -fully entitled

This deep water town home community is situated on the historic and natural Ashley River, just outside of desirabe Charleston, SC. The beautifully landscaped grounds of this community are graced with majestic live oak trees draped in Spanish Moss, all located directly across the river from historic Drayton Hall and other magnificent antebellum Plantations. The community is in close proximity to downtown Charleston and the Charleston Airport and is an easy boat ride to historic Charleston Harbor and the Atlantic Ocean. Excellent growth and economic development nearby with a new Boeing facility and Air Force Base located just minutes away from the property.

From I-526 take exit 16, International Boulevard, toward the Airport. Turn left onto Michaux Parkway. Michaux ends at Dorchester Road, Highway 642, turn right onto Dorchester Rd. Take your second left onto Great Oak Drive. Take your first right onto North Palmview Circle.

Phases 2A & 2B are the last project phases to be built out and are situated in the prime location in the development -- these buildings/units and land are in closest proximity on the site to the beautiful marsh, the Ashley River and the River Club.