Investment Overview

Marcus & Millichap is pleased to present 2107 Rondo, a 16-unit multifamily community located in the West Ashley submarket of Charleston, South Carolina. Originally built in 1970, the property offers an all one-bedroom, one-bathroom unit mix. Electricity is paid directly by residents and water and sewer are billed back to tenants, delivering a streamlined operating profile with limited utility expense exposure. 2107 Rondo has benefited from meaningful recent capital investment, including a new roof in 2023, updated hot water heaters, and updated PAC units across the majority of the property. Two units have been fully renovated with granite countertops, and the majority of remaining units have been recently turned, offering a new owner a stabilized income stream and a defined runway for continued value-add through unit-by-unit renovation at turnover. The asset sits just off US Highway 17, Charleston’s primary north-south commercial corridor, providing direct connectivity to downtown Charleston, Mount Pleasant, and the surrounding West Ashley amenity base. West Ashley is home to nearly half of the City of Charleston’s population and offers renters proximity to MUSC, Roper St. Francis, and Charleston’s downtown employment corridors. The broader Charleston MSA continues to benefit from sustained population and job growth anchored by MUSC, Boeing, the Port of Charleston, and a rapidly expanding technology sector, supporting durable long-term rental demand.