Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chatham Place Apartments, a 30-unit apartment community located in North Charleston, South Carolina. The asset sold for $3.3 million, or $110,000 per unit.
“This was a straightforward closing for a light value-add property with additional storage units,” says William Graves, associate in the firm’s Charleston office.
Graves, in addition to Ryan Lipomi and Nate McDaniel, had the exclusive listing to market the property on behalf of the seller. The buyer was secured by Graves and McDaniel.
Constructed in 1975, Chatham Place Apartments is located at 5735 Chatham Avenue in North Charleston. Its 30 total units are comprised of 18 one-bedroom apartments and 12 two-bedroom apartments. The property also features six storage units.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.