🎄Jingle Jingle! It’s that magical time of year again—carols are in the air, spirits are high, and the festive vibe is unmistakable. I’m gearing up for a big family Christmas party this weekend. Wish us luck! Mina and I are bringing Graham, the first great grandbaby in the family, so he’s bound to be the star of the show. You’ll find me catching up with Cousin Reyn, drink in hand, basking in the chaos of the family drama.

🎉 NYE 2024. As we wrap up the year, it’s been a whirlwind of meetings, Broker Price Opinions, and strategy sessions as we gear up for 2025. There's a palpable sense of optimism in the air—much more than last year—and I’m genuinely excited about what the next 12 months will bring. Let’s dive into some insights and wrap up the year with a look ahead this week.

The Scoop
2 significant closings

Over the last week, we’ve seen 2 significant closings occur in the Charleston area, I wrote a post breaking down each one, but here’s the highlights

1. 4020 O’Hear Ave, North Charleston: 16 renovated 1br units for $2M, down from a $2.7M listing. At $125K per door with a CAP rate of 6.26%, this significant price reduction reflects a heating market. I delve into how high housing vouchers are boosting these prices. Time to rethink our offer strategies! Check out more details on this one here

2. 2133 Pierpont, West Ashley: 8 renovated 1br units for $1.054M, slightly below the asking price of $1.091M. Each unit went for $131.75K with a CAP of 5.92%. This sale confirms the market’s stability and precision in pricing. A true gem, having last sold in '97 and one of only 39 such properties, highlighting both scarcity and potential. Check out more details on this one here

There’s one other property on Rondo St in West Ashley that I’m keeping my eye on. It’s currently under contract with 16 - 1br/1ba units priced at $125k/door with light renovations. Where do you think it’ll land?

The BIG Deal

Coming Soon: 28 Units in Upstate SC

My team and I have 28 units coming up 20 miles outside of Clemson. It’s completely vacant and needs renovation. We’re projecting a stabilized cap of 7.98% in year 3. We plan to go live on the market next week. If you're interested or want a sneak peek, give me a shout.

Check out the breakdown here

Paul’s Market Journal

Q4 Market Update + 2025

I took a deep dive into Charleston's multifamily real estate market, and boy, did I uncover some fascinating stats. From why rent growth is precisely 0.01% year over year to what we can expect in 2025, the figures are sure to help you crush the year ahead.

Click here to get the full story.