Cedar Key Apartments
Cedar Key Apartments
246 Pidgeon Bay Rd., Summerville, SC 29483
Pricing: $6,480,000 ($135,000 per unit)
48 Units
Value-Add
Charleston, SC
1008 Sq.Ft.
Year Built: 2003
2- & 3-Bed Units
Modern floor plans will continue to be functional.
The property has large 2- & 3-bedroom floor plans that are modern and will avoid functional obsolescence for decades. 100% of the units have large washer / dryer closets. Average size is 1,008 square feet.
At the center of Charleston’s employment corridor and growth.
According to the BLS Charleston scored #1 in the nation for employment growth in two of the last three years. Year 3 the metro came in third overall. During these periods, employment growth in the Charleston metro averaged 5% - 6%.
Documented strong historical rent growth.
Charleston's growing economy and in-migration patterns bode well for affordable rent growth. Cedar Key's approved affordable rents (LIHTC) have increased an average of 7.6% per year over the last 10 years.
