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Michael Fox

mfox@carolinaoneplus.com +1(843) 532-6441

Listed by Prospect Real Estate Brokers

$ 4,150,000

Est. payment | -/mo

8,888 SqFt

Save

$ 4,150,000

Est. payment | -/mo

Save

8,888 SqFt

Key Details

Property Type Condo, Multi-Family

Sub Type Flat,More than 4

Listing Status Active

Purchase Type For Sale

Square Footage 8,888 sqft

Price per Sqft $466

Subdivision City Of Charleston

MLS Listing ID 26024065

HOA Y/N No

Year Built 1911

Lot Size 4,791 Sqft

Acres 0.11

Property Sub-Type Flat,More than 4

Property Description

The Foundry at 76 Nassau Street is a rare surviving landmark of Charleston's 19th-century industrial history, thoughtfully adapted for modern use as a 14-unit multifamily residential property. Today, the property sits at the center of Downtown Charleston's continued growth, just one block from Meeting Street and within walking distance of Upper King Street. The property consists of two two-bedroom apartments, ten one-bedroom apartments, and two studio apartments, each with one full bathroom. Residents also have access to a shared laundry facility. The Foundry presents a turnkey investment opportunity with 100% occupancy and an exceptional rental history. According to ownership, the property has experienced no vacancies or evictions during their entire ownership period, while average rents have increased approximately 9% annually since 2022. Professional property management is already in place and available to continue managing the property for a new owner. The solid-brick building is relatively simple to operate and maintain and benefits from significant recent capital improvements, including a new roof and new windows installed in 2022. The Foundry apartments are well positioned as an attractive, reasonably priced rental option within the rapidly evolving Upper King Street area. The surrounding district has emerged as one of Downtown Charleston's most dynamic mixed-use neighborhoods following substantial redevelopment over the past decade. Anchored by Greystar's global headquarters just one block west and the multi-phase Courier Square redevelopment, the area has added hundreds of new residences along with significant office, retail, hospitality, and public-space investment. That momentum continues today. New high-end senior housing, additional mixed-use development, and the much-anticipated Lowline linear park are advancing nearby, further extending the energy and appeal of Upper King Street toward the property. The combination of a distinctive historic building, established rental performance, walkable downtown location, and substantial surrounding investment makes The Foundry a compelling opportunity to acquire a stabilized multifamily asset in the path of Downtown Charleston's continued growth.

Location

State SC

County Charleston

Area 51 - Peninsula Charleston Inside Of Crosstown

Interior

Cooling Window Unit(s)

Exterior

Utilities Available Charleston Water Service, Dominion Energy

Roof Type See Remarks

Building

Dwelling Type Flat,More than 4

Story 2

Foundation Crawl Space

Sewer Public Sewer

Water Public

Structure Type Brick

New Construction No

Schools

Elementary Schools Sanders Clyde

Middle Schools Simmons Pinckney

High Schools Burke

Others

Acceptable Financing Any, Cash, 1031 Exchange

Listing Terms Any, Cash, 1031 Exchange

Financing Any,Cash,1031 Exchange

Nearby Locations

+1(843) 532-6441

mfox@carolinaoneplus.com

567 Crowfield Blvd, Goose Creek, South Carolina 29445, USA

76 Nassau #Apt B Charleston, SC 29403