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Chatham Place Apartments 5735 Chatham Ave 28 Unit Apartment Building For Sale North Charleston, SC 29406
Investment Highlights
- Value-Add Opportunity: All 28 units in classic condition, giving investors the ability to improve property performance through capital investments.
- Expanded Unit Mix: Four original one-bedroom units previously converted into two larger three-bedroom units.
- Charleston MSA Growth: One of the Southeast’s fastest-growing metros driven by sustained in-migration and expanding tech and life sciences employment.
- Six Storage Units with Garages: The property includes six available large storage units with garages.
- Diversified Employment Base: Anchored by Boeing South Carolina, Bosch, Mercedes-Benz Vans, and Joint Base Charleston.
- Port + Airport Connectivity: Direct access to Port of Charleston, Charleston International Airport, and the I-26 industrial corridor.
Executive Summary
Marcus & Millichap is pleased to present Chatham Place Apartments, a 28-unit multifamily community located in North Charleston, South Carolina. Originally built in 1975, the property offers a long-established asset with a defined operating history in one of the Southeast’s most active multifamily markets.
All units are classic, offering investors the ability to improve property performance through capital investments. Four original one-bedroom units have been converted into two larger three-bedroom units, expanding the unit mix. A new roof was installed in 2022, materially reducing near-term exterior capex exposure. The community also features six available large storage units with garages.
North Charleston sits at the heart of the Charleston metropolitan area and represents one of the region’s most industrially diversified economies. The submarket is anchored by Boeing South Carolina’s Dreamliner production complex, Bosch, Mercedes-Benz Vans, Charleston International Airport, Joint Base Charleston, and the Port of Charleston, supporting substantial regional demand for rental housing. The broader Charleston MSA continues to rank among the fastest-growing metros in the Southeast, with sustained in-migration, expanding technology and life sciences employment, and one of the country’s most active industrial development pipelines driving durable long-term rental demand.
All units are classic, offering investors the ability to improve property performance through capital investments. Four original one-bedroom units have been converted into two larger three-bedroom units, expanding the unit mix. A new roof was installed in 2022, materially reducing near-term exterior capex exposure. The community also features six available large storage units with garages.
North Charleston sits at the heart of the Charleston metropolitan area and represents one of the region’s most industrially diversified economies. The submarket is anchored by Boeing South Carolina’s Dreamliner production complex, Bosch, Mercedes-Benz Vans, Charleston International Airport, Joint Base Charleston, and the Port of Charleston, supporting substantial regional demand for rental housing. The broader Charleston MSA continues to rank among the fastest-growing metros in the Southeast, with sustained in-migration, expanding technology and life sciences employment, and one of the country’s most active industrial development pipelines driving durable long-term rental demand.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Sale Type | Investment | Lot Size | 0.83 AC |
| No. Units | 28 | Building Size | 24,600 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1975 |
| Apartment Style | Low-Rise | Parking Ratio | 3.3/1,000 SF |
| Building Class | C | ||
| Zoning | specialty-apartment | ||
| Sale Type | Investment |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.83 AC |
| Building Size | 24,600 SF |
| No. Stories | 2 |
| Year Built | 1975 |
| Parking Ratio | 3.3/1,000 SF |
| Zoning | specialty-apartment |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | 500 |
| 2+1 | 12 | - | 700 |
| 3+2 | 2 | - | 1,000 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 473-15-00-191 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $198,000 |
Property Taxes
Parcel Number
473-15-00-191
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$198,000
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