Southcourt – 32 Units

Waterstone Multi-Family Group is pleased to present Southcourt Apartments; a 32 unit townhome style apartment community, built in 1985, located in Charleston, South Carolina. The property is located in James Island and is minutes from the beach, Harris Teeter grocery store, Cross Creek Shopping Center as well as additional shopping centers and restaurants.  This is an opportunity to own in one of the strongest markets in South Carolina. 

Investment Highlights:

1. Rent/Income growth secondary to below average market rates.
2. Great assumable Freddie Mac loan in place for +/- $2,450,000 with 20 year term and 30 year AM at 5.1% 
3. Current Occupancy is 100%. 

Other Notes:

• All units individually metered
• Central air
• Storage units
• Individual mail boxes

Charleston has seen the job market increase by 3.0% over the last year. Future job growth over the next ten years is predicted to be 41.6%, which is higher than the US average of 38.0%. The largest public employer is Joint Base Charleston at 22,000 employees. The facility is under the jurisdiction of the United States Air Force. The second largest is the Medical University of South Carolina with 13,000 employees. As for the private sector, The Boeing Company employs the most at 7,000.