Read Street Apartments 5527 Read St
28 Unit Apartment Building For Sale Charleston, SC 29406
INVESTMENT HIGHLIGHTS
- Fully Stabilized Multifamily Asset with Strong Occupancy Rates
- Located 12 Miles from Downtown Charleston, Providing Access to a Major Employment Hub
- Positioned for Continued Natural Rent Growth in a High-Demand Rental Market
- Interior Renovations Completed in 2022, Enhancing Unit Appeal
- Only 4.7 Miles from the Charleston Navy Yard Development, a Growing Mixed-Use Redevelopment Project
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present for sale Read Street Apartments, a fully stabilized multifamily property located at 5527 Read Street in North Charleston, South Carolina. Situated just 12 miles from downtown Charleston and 4.7 miles from the Charleston Navy Yard Development, the property benefits from rapid regional growth and increasing rental demand. Thoughtfully maintained by current ownership, Read Street Apartments underwent renovations in 2023-2025, modernizing the interior to attract long-term tenants. With a fully stabilized occupancy, the property is well-positioned for continued natural rent growth, offering investors a turnkey asset in a high-demand rental market with long-term appreciation.
North Charleston remains one of the fastest-growing submarkets in the region, driven by strong employment opportunities in aerospace, manufacturing, and technology. This investment presents an excellent opportunity to acquire a well-maintained multifamily property in one of the Southeast’s most dynamic markets.
North Charleston remains one of the fastest-growing submarkets in the region, driven by strong employment opportunities in aerospace, manufacturing, and technology. This investment presents an excellent opportunity to acquire a well-maintained multifamily property in one of the Southeast’s most dynamic markets.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.17 AC |
| Building Size | 22,342 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2023 |
| Parking Ratio | 1.43/1,000 SF |
UNIT AMENITIES
- Kitchen
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 28 | - | - |
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PROPERTY TAXES
| Parcel Number | 473-14-00-091 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $173,732 CAD |
