321 Ashley Avenue, 1-7, Charleston, SC 29403 (MLS# 31008423)

321 Ashley Avenue, 1-7, Charleston, SC 29403

$5,850,000

Property Type: Commercial Sale Square Footage: 12,825 Status: Active

Current Price: $5,850,000 List Date: 4/21/2026 Last Modified: 6/13/2026

Overview

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. 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 floori ... (Read more) 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. 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.

Listing Details MLS# 31008423

Location

Street Number: 321
Street Name: Ashley
Street Suffix: Avenue
Unit Number: 1-7
County: Charleston
Nearest MSA: Charleston-North Charleston, SC
Submarket/Township: 52 - Peninsula Charleston Outside of Crosstown
State or Province: SC
Postal Code: 29403
Parcel Number: 4600702049
Opportunity Zone: No

General Information

Property Sub Type: Multi Family
Listing Name: 321 Ashley Avenue / 10 Orrs Ct
Property Condition: Updated/Remodeled
Number of Units Total: 7
Building Area Total: 12825
Lot Acres: 0.25
LEED Certified: No
Zoning: City of Charleston - DR-2F - Diverse Residential (Front Yards Required)
Property Visibility: Good
List Price/Acre: 23400000
List Price/SqFt: 456.14
Opt In to Crexi?: Yes

Contract Information

Listing Contract Date: 2026-04-21
Original List Price: 6125000
Tax Legal Description: Lt 18

Building Related

Percent Occupied: 100
General Condition: Excellent
Stories Total: 3
Year Built: 2017
Year Renovated: 2017
Parking Total: 9
Number Of Buildings: 4

Land Related

Part of Planned Development?: No
Frontage Length: 35
Lot Depth: 340
In Flood Plain?: Yes

Financials

Tax Assessed Value: 3571200

More Information

Status Change Info

Status Change Date: 2026-04-21

Auction Details

Auction: No

Building Detail

Laundry: In Each Unit
Sprinklers: Wet

Directions & Remarks

Directions: Ashley Ave between Sumter & Fishburne
Public Remarks: 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. 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.

Property Sub Type

Multi Family: Yes

Existing Lease Type

Gross: Yes

Roof

Asphalt: Yes
Metal: Yes
Shingle: Yes
See Remarks: Yes

Current Use

Investment: Yes
Multi-Family: Yes
Student Housing: Yes

Special Listing Conditions

Standard: Yes

Structure Type

Duplex: Yes
Mid-Rise: Yes
Quadruplex: Yes

Association Amenities

Landscaping: Yes
Maintenance Grounds: Yes
Parking: Yes
Roof Deck: Yes
Trash: Yes

Construction Materials

Brick Veneer: Yes
Cement Siding: Yes
HardiPlank Type: Yes
Wood Siding: Yes

Parking Type

Surface: Yes

Heating

Central: Yes
Ductless: Yes
Electric: Yes
Heat Pump: Yes
Separate Meters: Yes
See Remarks: Yes

Cooling

Central Air: Yes
Ductless: Yes
Electric: Yes
Separate Meters: Yes

Internet Access

Cable: Yes

Lot Features

Level: Yes

Road Frontage Type

City Street: Yes
See Remarks: Yes

Road Surface Type

Gravel: Yes
See Remarks: Yes

Easements

Utilities: Yes

Water Source

Public: Yes

Sewer

Public Sewer: Yes

Listing Terms

1031 Exchange: Yes
Cash: Yes
Conventional: Yes

Property Features

Property Sub Type: Multi Family Current Use: Investment; Multi-Family; Student Housing Special Listing Conditions: Standard Structure Type: Duplex; Mid-Rise; Quadruplex Existing Lease Type: Gross Association Amenities: Landscaping; Maintenance Grounds; Parking; Roof Deck; Trash Roof: Asphalt; Metal; Shingle; See Remarks Construction Materials: Brick Veneer; Cement Siding; HardiPlank Type; Wood Siding Parking Type: Surface Heating: Central; Ductless; Electric; Heat Pump; Separate Meters; See Remarks Cooling: Central Air; Ductless; Electric; Separate Meters Internet Access: Cable Lot Features: Level Road Frontage Type: City Street; See Remarks Road Surface Type: Gravel; See Remarks Easements: Utilities Water Source: Public Sewer: Public Sewer Listing Terms: 1031 Exchange; Cash; Conventional

Documents

Rent Roll ›

Key Investment highlights ›

Offering Memo ›

Listing Office: Lighthouse Real Estate, LLC

Last Updated: June - 13 - 2026

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