| $1,700,000.00 -> $1,500,000.00 on 05/08/2024 |
Nestled in the heart of Charleston's coveted Radcliffeborough neighborhood, this high-demand rental property offers a unique blend of history, charm, and investment potential. Just steps from MUSC and near College of Charleston, this ensemble features a historic single home and a separate carriage house, totaling four distinct units with excellent rental history. Current leases extend through 2025 (Units A, B & C through June 30, Carriage Home through July 31). Each lease includes a 90-day Termination Addendum in the event of a sale, offering flexibility for new owners. A spacious off-street parking lot accommodating up to 5 vehicles is a rare find. There is a large potential to maximize monthly rentals to well over $10,000/month.The Seller has had no problems with flooding in 25-plusyears of ownership. The home is in flood zone AE-11 current insurance policy is with Progressive Insurance. The flood premium for main house is $2,358/year; flood insurance for carriage home is $1,363/year; homeowner's premium $5,699/year. The property holds the potential for condominium conversion, maximizing your return on investment. Alternatively, you could choose to live in one unit and generate rental income from the other three, offering flexibility to suit your needs. Throughout both the main house and carriage house, timeless heart pine floors exude classic Charleston charm, creating a warm and inviting atmosphere. The front building boasts a variety of living spaces, including a 2BR/1Bath unit, a 1BR/1Bath unit, and an efficient 1Bath studio. The separate carriage house offers a charming 2BR/1Bath layout, perfect for those seeking a bit more privacy. This property isn't just a purchase; it's an investment in Charleston's historic fabric and a doorway to countless possibilities. Whether you're seeking a multi-unit investment, a potential condo conversion project, or a home with built-in rental income, this versatile property delivers on all fronts.
LISTED BY St. Germain Properties LLC, (843) 475-3855
