Sumner Place Apartments 1815 Sumner Ave 24 Unit Apartment Building $3,700,000 ($154,167/Unit) 7.79% Cap Rate Charleston, SC 29406

Marcus & Millichap is pleased to present for sale the Sumner Place Apartments, a fully renovated multifamily community located at 1815 Sumner Avenue in North Charleston, South Carolina. The high-quality asset was modernized with extensive interior and exterior renovations, which were completed in 2023. Sumner Place Apartments also benefits from its proximity to the rapidly growing metro that surrounds it, situated just 10 miles from downtown Charleston and only four miles from the Storehouse Nine Navy Yard Development. Storehouse Nine, a historic Navy storehouse, has been redeveloped into 78 boutique live/work units within Navy Yard Charleston in North Charleston. The four-story building caters to a flexible workforce, alongside maker studios, retail, and an upcoming rooftop restaurant. Part of an 85-acre redevelopment led by Jamestown, Weaver Capital Partners, and WECCO Development, the project includes Storehouse Eight, office and event space, a landscaped plaza with seasonal events, and access to Riverfront Park and a private social club.
Charleston continues to attract strong job growth across diverse industries, including aerospace, manufacturing, and technology, further driving demand for quality rental housing. This offering presents a rare opportunity to acquire a turnkey, stabilized multifamily asset with a strong rental history in one of the Southeast’s most dynamic markets. With a well-established rental base and access to major employment centers, the Sumner Place Apartments are poised for long-term appreciation and strong returns.