$6,125,000
321 Ashley Avenue
Charleston, SC 29403
MLS# 26000754
12825 sqft


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Property 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.

Details
Documents
Contract Info
Primary Structure List Price/SqFt: 477.58
MLS List Date: 2026-01-09
Status: Active
List Price: $6,125,000
Current Price: $6,125,000
Location, Tax & Legal
Legal Description: 321 Ashley Ave & 10 0rrs Court 7 apartments with 28 bedrooms and 28 bathrooms.
Tax Map #: 4600702049
Street #: 321
Street Name: Ashley
Street Suffix: Avenue
County: Charleston
State: SC
Zip Code: 29403
Area: 52 - Peninsula Charleston Outside of Crosstown
Tax District: 71 - City of Charleston
Subdivision: City of Charleston
Elementary School: Mitchell
Middle School: Simmons Pinckney
High School: Burke
Directions: Ashley Ave between Sumter & Fishburne
General Property Info
# Stories: 3
Ground Level: Yes
Occupancy: Leased
Lease Purchase: No
Potential Short Sale: No
Other Structures Y/N: No
Number of Units: 7
Primary Structure Apx SqFt: 12825
Year Built: 2017
Acreage: 0.25
Income, Expenses & Fees
Gross Income: 469980
Auction: No
Office/Member Info
Seller Concessions Negotiable Y/N: Yes
SqFt Source
Builder/Owner: 1
Unit 1
SqFt: 1750
Bedrooms: 4
Baths: 4.5
Unit 2
SqFt: 2050
Bedrooms: 4
Baths: 4.5
Unit 3
SqFt: 1750
Bedrooms: 4
Baths: 4.5
Unit 4
SqFt: 1750
Bedrooms: 4
Baths: 4.5
Roof
Architectural: 1
Metal: 1
Exterior
Wood Siding: 1
See Remarks: 1
Attic Features
Access: 1
Unfinished: 1
Foundation
Combination: 1
Crawl Space: 1
Piling: 1
Raised Slab: 1
Zoning
Conforming: 1
Garage/Parking
Assigned Parking: 1
Other (Use Remarks): 1
Driveway
Gravel: 1
Architectural Style
Duplex: 1
High Rise: 1
More than 4: 1
Single Family Detached: 1
Triplex: 1
New Owned/Pre-owned
Pre-Owned: 1
Equipment/Appliances
Ceiling Fan: 1
Dishwasher: 1
Disposal: 1
Dryer: 1
Electric Dryer Hookup: 1
Electric Range: 1
Range Hood: 1
Refrigerator: 1
Security System: 1
Stacked Washer/Dryer: 1
Washer: 1
Washer Hookup: 1
Cooling
Central Air: 1
Electric: 1
Heat Pump: 1
Heat
Central: 1
Ductless: 1
Electric: 1
Heat Pump: 1
See Remarks: 1
Amenities
Bus Line: 1
Other: 1
Sale Includes
Building and Land: 1
No Furniture: 1
Other (Use Remarks): 1
Proposed Financing
Any: 1
Tenant Pays
All Utilities: 1
Electric: 1
Water & Sewer: 1
Possession
At Closing: 1
Negotiable: 1
Tenants Rights: 1
Water/Sewer
Public Sewer: 1
Public Water: 1
Utility Suppliers
Charleston Water Service: 1
Dominion Energy: 1
Income Expenses Fees
Annual Expenses: 157282
Net Income: 312698
Property Features
SqFt Source: Builder/Owner
Roof: Architectural; Metal
Exterior: Wood Siding; See Remarks
Attic Features: Access; Unfinished
Foundation: Combination; Crawl Space; Piling; Raised Slab
Driveway: Gravel
Architectural Style: Duplex; High Rise; More than 4; Single Family Detached; Triplex
Zoning: Conforming
Cooling: Central Air; Electric; Heat Pump
Heat: Central; Ductless; Electric; Heat Pump; See Remarks
Amenities: Bus Line; Other
Sale Includes: Building and Land; No Furniture; Other (Use Remarks)
Tenant Pays: All Utilities; Electric; Water & Sewer
Proposed Financing: Any
Possession: At Closing; Negotiable; Tenants Rights
Utility Suppliers: Charleston Water Service; Dominion Energy
Supplements
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.

IDX
Listing Office: Lighthouse Real Estate, LLC

Last Updated: January - 10 - 2026

Properties marked with IDX logo are provided courtesy of Charleston Trident Multiple Listing Service, Inc. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than the website owner are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing this data believes it to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Information is provided exclusively for consumers' personal, non-commerical use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.


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