Charleston & Mt. Pleasant Homes For Sale - Please contact Alan Donald for more information on this listing: (843) 900-0155

$297,500 | N/A beds | N/A full baths | N/A half baths | 1,475 sqft

$312,000
1527 Joan Street UNIT C & D
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

Schools

Elem:  Orange Grove

Middle:  West Ashley

High:  West Ashley

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

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Price & Status History (on buyhomesincharleston.com since Thu, Apr 1st 2021)
  • Original Price: $297,500
  • Current Price: $297,500
  • Price Reduced: $0
Date ChangedFromTo
05/14/2021$312,000 $297,500 Reduced by $14,500
05/14/2021$297,500 $312,000 Increase by $14,500

Residential, Land, Other Disclaimer:

Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than Keller Williams Realty Charleston are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Last updated on 03-28-2024 6:10 AM EST . The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright 2024 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2024 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 03-28-2024 6:10 AM EST est.

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843-779-8660

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Contact Alan Donald for more information on this listing - (843) 900-0155
Keller Williams Realty Charleston - Mt Pleasant, SC