Charleston & Mt. Pleasant Homes For Sale - Please contact Alan Donald for more information on this listing: (843) 900-0155
Charleston, SC 29407
- N/ABeds
- N/AFull Baths
- N/AHalf Baths
- 1,475SqFt
- 1963Year Built
- 0.23Acres
- MLS# 21008576
- Multi Family
- Sold
- Approx Time on Market1 month, 12 days
- AreaWest Ashley Inside I-526
- CountyCharleston
- SubdivisionOrange Grove
Overview
Very rare opportunity for a Brick Duplex cash flow property on a large lot with ample parking in the middle of West Ashley! Great investment opportunity! Many options abound in its use: Owner can live in one unit and pay a large part of their mortgage with rent from the other, (with substantial tax benefits too), rent both units as they are now, or upgrade the units upon tenant turnover for a substantial increase in rental income and excellent return on your investment. Major features are an all Brick exterior, a good roof, (30 year architectural shingles installed in the mid 2000's), recent HVAC systems, (one installed in 2018), updated electrical panels for both units, 4 parking spaces and 2 big storage sheds. More...Two side by side units each have: Nice wood flooring throughout the living areas and bedrooms. 2 Bedrooms with nicely sized closets. 1 Bathroom with an adjacent linen closet. A spacious main living area with coat closet and a perfect wall space for a large TV. An open and flexible Kitchen and Dining area, and there is a separate area in the back for washer, dryer and storage. Situated on a large, near quarter of an acre lot, with a large backyard enhanced by a Majestic Oak Tree. Of note, there are two very useful and sizeable storage outbuildings in the rear yard, and these can bring definite added value to the rental income obtainable. Tenant and Income status: Tenants pay all utilities. Unit D, rented at $1050 a month since June 2019, has a $1050 security deposit, and is leased through July 31, 2021. It was rented under market value in 2019, and has been without rent increases due to excellent tenant payment history. Unit C is rented for $800 a month, on a month to month basis, with no lease, to a family acquaintance who has lived there for 4 years. The favorable rate is due some work done on other properties and yard care. Fair market rental value for both units, without upgrading, is $1250 to $1300 a month, or $30,000.00 to $31,200.00 a year. Location, parking, yard space, nice wood floors, open floor plan, and the use of the storage outbuildings drive this rental income. Note: The open living and kitchen area floor plan allows these units to be easily and cost effectively upgraded to modern looks and finishes, and increasing rental income. Property is in a great location with nearby restaurants, sports pub, shopping and entertainment, very convenient to 26 and 526 and about 15 minutes to downtown Charleston!Located in an X flood zone, no flood insurance is required, this adds to the bottom line cash flow value of the property. Some advanced tenant notice is needed to view, this won't last long, if interested, contact your agent asap to set an appointment to view.
Sale Info
Listing Date: 04-01-2021
Sold Date: 05-14-2021
Aprox Days on Market: 
1 month(s), 12 day(s)
Listing Sold: 
2 Year(s), 10 month(s), 14 day(s) ago
Original Asking Price: $297,500
Asking Price: $297,500
Selling Price: $312,000
Price Difference From Original:
Increase $14,500
Price Difference From Asking:
Increase $14,500
Agriculture / Farm
Grazing Permits Forest Service: Yes
Grazing Permits Private: Yes
Grazing Permits Blm: Yes
Horse: No
Farm Credit Service Incl: Yes
Association Fees / Info
Community Features: Bus Line
Bathroom Info
Building Info
Year Built: 1963
Business Info
Rent Control: No
Buyer Compensation
Exterior Features
Pool Private: No
Garage / Parking
Gar Pkg: Other (Use Remarks)
Garage: No
Attached Garage: No
Interior Features
Interior Features: Ceiling Fan(s)
Fireplace: No
Lot Info
Lot Size: 0.23
Lot Size Units: Acres
Acres: 0.23
Lot Sqft: 10018.8
Irrigation Water Rights: Yes
Offer Compensation
Other
Mobile Home Remains: Yes
Property Info
Property Type: B
Stories: 1
Foundation: Slab
Exterior: Brick Veneer
New Construction: No
Roof: Asphalt
Building Area Units: Square Feet
Entry Location: Ground Level
View: No
Home Warranty: Yes
Habitable Residence: Yes
Structure Type: Duplex
Room Info
Sale / Lease Info
Sold Date: 2021-05-14T00:00:00
Lease Renewal Option: Yes
Lease Considered: Yes
Lease Assignable: Yes
Sqft Info
Sqft: 1475
Unit Info
Number of Units Total: 2
Unit: C & D
Utilities / Hvac
Water Source: Public
Utilities: Dominion Energy
Heating: Yes
Heat: Heat Pump
Water Sewer: Public Sewer
Cooling: Yes
Waterfront / Water
Waterfront: No
Directions
From Ashley River Road Or Cosgrove: Orange Grove Road Onto East Avalon Circle Onto Joan Street.Courtesy of listing office Carolina One Real Estate - 843-779-8660
Charleston, SC Real Estate | Mount Pleasant Homes For Sale | Mount Pleasant Real Estate | 55+ Communities in Charleston, SC
Contact Alan Donald for more information on this listing - (843) 900-0155
Keller Williams Realty Charleston - Mt Pleasant, SC