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$ 1,425,000
Est. payment /mo
Active
105/107 Magwood DR Summerville, SC 29485
35,719 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 35,719 sqft
Price per Sqft $39
MLS Listing ID 31006307
Year Built 1984
Lot Size 0.820 Acres
Acres 0.82
Property Sub-Type Multi Family
Property Description
Welcome to 105 & 107 Magwood Drive -- a rare opportunity to acquire two fully leased quadplexes in the heart of Summerville, offering a total of eight potentially income-producing units in one of the fastest-growing submarkets in the Charleston metro. Each building features four well-maintained 2-bedroom, 1.5-bathroom townhome-style units, designed with functionality and comfort in mind. With all eight units currently occupied and generating a combined monthly rental income of $10,850, this is potentially an ideal acquisition for investors. Current Rents by Unit: 105 Magwood Drive Unit A: $1,225 Unit B: $1,500 Unit C: $1,225 Unit D: $1,250 107 Magwood Drive Unit A: $1,400 Unit B: $1,500 Unit C: $1,500 Unit D: $1,250Owned and meticulously maintained by the same owner for 22 years, it has benefited from $600,000 in capital improvements. The result is a fully stabilized asset with minimal maintenance concerns and immediate cash flow potential. The tenant base is remarkably stable, with average tenancies ranging from 5 to 8 years, and several long-term residents staying 12, 16, even 17 years, clear evidence of a well-managed and desirable living environment.Whether you're an experienced investor looking to expand your portfolio or a savvy buyer interested in a potential live-in investment strategy, these side-by-side quadplexes offer multiple paths to potential wealth-building. Potentially occupy one unit and offset your living expenses, or keep all eight units rented. Located just 3.7 miles from Historic Downtown Summerville, 5.5 miles from I-26, and 6.5 miles from Nexton Square, your tenants will enjoy easy access to major employers, shopping, dining, and top-rated Dorchester-2 schools. The area's robust job market, population growth, and limited multifamily inventory all make this a great potential offering.Opportunities to acquire an eight-unit portfolio with strong rental history in a growing market don't come around often. Buyer agrees to comply with all necessary documentation to facilitate a 1031 exchange, if applicable. Proof of funds or a letter of credit (LOC) from a financial institution is required prior to any showings or walkthroughs.*Rental availability and options are not guaranteed. Buyers interested in residential and other rental options must verify with any and all governing bodies.Sale includes TMS#1530500030 and TMS#1530500031
Location
State SC
County Dorchester
Zoning Dorchester - N-R - Neighborhood Residential
Exterior
Parking Features Surface
Building
Sewer Public Sewer
Water Public
Listed by Paul Kelton • Matt O'Neill Real Estate
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