NORTH CHARLESTON, S.C. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chatham Place Apartments, a 30-unit apartment community located in North Charleston, South Carolina. The asset sold for $3.3 million, or $110,000 per unit.
“This was a straightforward closing for a light value-add property with additional storage units,” says William Graves, associate in the firm’s Charleston office.
Graves, in addition to Ryan Lipomi and Nate McDaniel, had the exclusive listing to market the property on behalf of the seller. The buyer was secured by Graves and McDaniel.
Constructed in 1975, Chatham Place Apartments is located at 5735 Chatham Avenue in North Charleston. Its 30 total units are comprised of 18 one-bedroom apartments and 12 two-bedroom apartments. The property also features six storage units.
SCBIZtv is part of the SC Biz News family, serving 100,000 high-level business execs throughout South Carolina. Click for more from SCBIZtv.