219 Bonnoitt Street

Located just 2.5 miles from Lake Moultrie and within the Charleston metro area, Santee Run features two apartment buildings with a total of 40 units, including 16 two-bedroom and 24 one-bedroom apartments. Approximately 75 of these units have been renovated or rebuilt in the last five years.The property generates a Gross Potential Rent of $440,400 annually, with a potential increase to $552,096. This opportunity includes month-to-month lease agreements and substantial parking availability, with one of the buildings newly constructed in 2019.Investors can capitalize on the growing real estate market within the Charleston MSA, with a projected market cap rate of 6.72 and a Gross Rent Multiplier (GRM) improvement from 12.15 to a market GRM of 9.69.This offering is potentially ideal for investors looking to capitalize on the dynamic real estate market in the Charleston region.*New construction in 2019 on one unit.