Central Oaks Apartments is a value-add investment opportunity located in Charleston, South Carolina. The property has an exceptional unit mix and convenient location off a high-traffic corridor. Surrounded by upscale homes and just 2 minutes to historic downtown Summerville, Central Oaks Apartments offers residents an upscale location, large units, and a phenomenal value at a substantial discount to the cost to own a neighboring entry-level home.

2 & 3-Bedroom Units (Flats & Townhouses)

1986 Construction

Separate water meters (city meters)

Renovations: 2020 Prior Owner, 2021 - 2022 Current Owner

+40% of units are renovated. Upgrade costs, logistics and premiums are already established.

Summerville has it all and Central Oaks Apartments is at the center of it. The property has exceptional schools, is surrounded by luxury homes, is central to all of the major employment hubs in the region (Volvo, Mercedes, Boeing, etc).

High cost of living neighborhood. Immediate neighboring home sales range from $540K - $1M+. Summerville home prices average $356K, about twice as much since 2014. This cost of housing is 12%-70% higher than several of the surrounding cities in the Charleston metro.

Center of Employment Corridor. Summerville is central to all of the major employment hubs in the region; just 5-20 minutes from Volvo, Mercedes, Boeing, Walmart & the Palmetto Commerce Parkway.

Top School System & Growth. Close to all of the highly sought-after Dorchester 2 schools. Dorchester County has consistently grown at the fastest rate of any of the three counties in the Charleston metro.

Opportunity to complete a value-add reposition at the center of Charleston's economic and employment growth.

Surrounded by upscale homes and just 2 minutes to historic downtown Summerville, Central Oaks Apartments offers residents an upscale location, large units, and a phenomenal value at a substantial discount to the cost to own a neighboring entry-level home.

Upside. Opportunity to increase rental income by 15% in Year 1 through continuing renovations and closing loss to lease.

Resident Value. Post-renovation rents are still well below submarket and area comparables.

Rent vs. Own Advantage: Monthly Cost To Own Neighboring Starter Home (approximately $450k): $3,612/mo. More than twice the projected renovated rents of Central Oaks Apartments.