1111 Melvin Dr
19 Unit Apartment Building For Sale Hanahan, SC 29410
INVESTMENT HIGHLIGHTS
- Stabilized Multifamily Asset with Significant Value-Add Potential
- Proximity to Charleston Navy Yard Redevelopment, Only 4.6 Miles Away
- Opportunity to Increase Rental Income Through Strategic Renovations
- Prime Location Just 12 Miles from Downtown Charleston
- Strong Tenant Demand in the Highly Regarded Berkeley County School District
- Located in a High-Growth Market with Strong Economic and Population Trends
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present for sale the Melvin Apartments, a well-positioned multifamily property located at 1111 Melvin Drive in Hanahan, South Carolina. Situated just 12 miles from Downtown Charleston and 4.6 miles from the Charleston Navy Yard redevelopment, this asset offers investors a strategic location within a growing and high-demand rental market. The stabilized asset presents a compelling value-add opportunity through targeted interior and exterior enhancements. Thoughtfully maintained by current ownership, Melvin Apartments underwent renovations in 2023-2025, modernizing the interior to attract long-term tenants. New ownership can capitalize on the ability to increase rental income by implementing strategic upgrades to further align with market demand.
Located within the highly regarded Berkeley County School District, the Melvin Apartments benefit from strong tenant demand driven by proximity to quality education, major employment hubs, and Charleston’s thriving economy. With Charleston’s continued population growth and limited housing supply, this asset is well-positioned for long-term appreciation and strong investment returns.
Located within the highly regarded Berkeley County School District, the Melvin Apartments benefit from strong tenant demand driven by proximity to quality education, major employment hubs, and Charleston’s thriving economy. With Charleston’s continued population growth and limited housing supply, this asset is well-positioned for long-term appreciation and strong investment returns.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.89 AC |
| Building Size | 18,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1982/2023 |
| Parking Ratio | 2.58/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 19 | - | 600 |
1 of 1
PROPERTY TAXES
| Parcel Number | 265-16-04-029 | Improvements Assessment | $2,188,922 CAD |
| Land Assessment | $264,044 CAD | Total Assessment | $2,452,967 CAD |
ZONING
| Zoning Code | RM |
