321 Ashley Avenue
Premier Downtown Charleston Multifamily Investment Opportunity - Fully Leased
Marketing description
Premier Downtown Charleston Multifamily Investment Opportunity - Fully Leased This is a rare opportunity to acquire a trophy-level, high-end multifamily portfolio in the heart of Downtown Charleston. This property spans an entire city block and consists of four buildings with seven total units and 28 bedrooms, encompassing nearly 13,000 square feet of well-appointed rental space. The property has a strong history of serving both student and professional tenants, with proven performance, durability, and long-term appreciation. At the core of the offering are two modern buildings constructed in 2017 totaling four units, each designed with four bedrooms, four-and-a-half baths, and approximately 1,750 square feet per unit, thoughtfully configured across three expansive stories.
Built for long-term durability and premium rental demand, the residences offer well-appointed interiors with high-quality, low-maintenance finishes. The main living areas feature durable ceramic tile plank flooring paired with stainless-steel appliances and solid surface countertops. Bathrooms are finished with tiled floors, tiled surrounds, and wainscoted walls. Architectural and design upgrades include vaulted ceilings, shiplap accents, rooftop balconies, soft-close kitchen cabinetry. All units contain en suite bathrooms and in-unit washer and dryers, making the layout ideal for roommate-style living and premium per-bedroom rent strategies.
The newer construction buildings are outfitted with standing-seam metal roofs, tankless water heaters, newer HVAC systems, and thermal-rated windows and doors, delivering energy efficiency and long-term durability.
Flanking either end of the modern structures is two fully renovated historic Charleston residences that add timeless character to the property. One fronts Ashley Avenue and contains two units, while the other fronts Orrs Court and contains one unit. Both historic buildings were comprehensively renovated in 2017 and seamlessly integrated into the overall asset, blending historic charm with modern functionality.
Importantly, all structures are raised out of the flood zone and built to the highest construction standards, offering superior insurance positioning and long-term risk mitigation.
The entire property is fully leased through July 31, 2026, with historical occupancy at 100% and average rental rate increases of approximately 10% per year since 2021, reflecting strong market fundamentals and sustained demand. The property is ideally located within Charleston's historic downtown district and in close proximity to the region's largest public and private sector employers, including the Medical University of South Carolina, Roper St. Francis Healthcare and within one mile of the College of Charleston, the Medical University of South Carolina, The Citadel, and Charleston School of Law, creating a powerful and consistent tenant pipeline.
This turn-key, stabilized investment offers a rare opportunity to acquire a block-wide luxury multifamily portfolio designed for maximum durability, premium rents, and long-term appreciation in one of Charleston's most supply-constrained and high-demand rental corridors.
NOTES:
Unit 1: SqFt: 1,750; Bedrooms: 4; Baths: 4.5
Unit 2: SqFt: 2,050; Bedrooms: 4; Baths: 4.5
Unit 3: SqFt: 1,750; Bedrooms: 4; Baths: 4.5
Unit 4: SqFt: 1,750; Bedrooms: 4; Baths: 4.5
Unit 5: SqFt: 1,725; Bedrooms: 4; Baths: 4.5
Unit 6: SqFt: 2,050; Bedrooms: 4; Baths: 4.5
Unit 7: SqFt: 1,750; Bedrooms: 4; Baths: 4.5
Investment highlights
100% Occupancy with $500,220 Gross Annual Income
Fully leased through July 31, 2027, with a demonstrated history of full occupancy.
$0 Collection Loss
Strong tenant performance and dependable income stream supported by parent-backed student leases and professional tenants.
Double-Digit Rent Growth
Average annual rental rate growth of approximately 10% since 2021, reflecting sustained demand and pricing power.
Strong Student Tenant Population
28-bedroom configuration, en suite bathrooms, and proximity to College of Charleston, MUSC, The Citadel, and Charleston School of Law create a durable student housing pipeline.
Premier Downtown Charleston Location
Located in one of Charleston’s most supply-constrained rental corridors, near major universities, hospitals, employers, and historic downtown amenities.
Block-Wide Multifamily Portfolio
Four buildings across an entire city block, offering scale, visibility, and a rare downtown footprint.
Modern Construction + Renovated Historic Assets
Two newer 2017 buildings paired with two comprehensively renovated historic Charleston residences.
Durable, Low-Maintenance Design
Standing-seam metal roofs, tankless water heaters, newer HVAC systems, thermal-rated windows and doors, tile flooring, solid surface countertops, high-quality finishes, and hardscaped landscaping.
Premium Roommate-Style Layouts
Large four-bedroom units with en suite baths and in-unit laundry support per-bedroom rent strategies and strong tenant retention.
Flood-Risk Mitigation
All structures are raised out of the flood zone, offering improved long-term risk positioning and potential insurance advantages.
Turn-Key Stabilized Investment
Fully leased, professionally improved, and positioned for continued rent growth and long-term appreciation.
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