Catylist ID:
#30783450
Renovated Historic 4 Unit Property Close to Marion Square & C of C
Expired Multi-Family
for Sale
Catylist Listing ID: | 30783450 |
Property Subtypes: | Duplex/Fourplex |
Status: | Pending/Contingent |
Number of Units: | 4 Units |
Building Size (RSF): | 5,144 SF |
Gross Building Area: | See Agent |
Sale Price: | $2,549,000 |
Unit Price: | $637,250 Per Unit |
Property Use Type: | Investment |
Sale Terms: | Cash to Seller, Purchase Money Mortgage |
Cap Rate: | Undisclosed |
Last Updated: | 6/23/2022 |
Overview / Comments
The William Waller House, circa 1840, is situated on a large .23 acre lot located in the heart of Radcliffeborough and just steps from Upper/Central King St., Marion Square, the College of Charleston, and MUSC. The property features 4 units, and 12 bedrooms 10 full and 2 half baths, . Current gross annual income is $14,400/month ($172,800 annually) with renewals in place through 7/31/23 at $14,750/month (w/90 day kick-out clause) making it ideal for use as a primary residence or as an investment property. The large lot can easily accommodate 6+ off-street parking spaces. All of the units were renovated extensively in 2019-20 with updated electrical, plumbing, HVAC, lighting, and all new kitchens and baths. The stunning main house (Unit A) features 5 bedrooms/5.5 baths and approximately 3,000 sq.ft. making it ideal for use as a primary residence while allowing the flexibility of continuing to lease Units B, C, and D at $7,900/month (increasing to $8,150/month). Believed to have been constructed by Richard Holloway, this grand structure has been preserved with original plaster moldings, wide plank heart pine floors, 11 foot + ceilings, grand double piazzas, wrought iron gates, and original marble mantles/surrounds on two of the four fireplaces. The property has a current lease in place at $6,500/month, which is increasing to $6,600/month in August. Unit B has approximately 900 sq.ft. with 3 bedrooms/3.5 baths and a lease currently in place at $3,500/month (increasing to $3,600/month). This stunning unit features updated plumbing, electrical, and HVAC along with reclaimed hardwood floors, beautifully finished bathrooms, and a well appointed kitchen featuring new countertops, cabinets, appliances, and lighting/plumbing fixtures. Units C & D are approximately 640 sq.ft. each with 2 bedrooms/1 bath. Both units are leased at $2,200/month (increasing to $2,250 & $2,300/month) and features updated kitchens/baths, new HVAC units, refinished original hardwood floors, and updated lighting throughout. There are 6+ off street spaces on-site and each individual unit is eligible to apply for 2 on-street parking decals through the City of Charleston. Additional income/expense information available by request. |
Attachments & Media
Additional Details
Nearest MSA: | Charleston-North Charleston |
County: | Charleston |
Submarket/Township: | 51 - Peninsula Chas. inside of crosstown |
Tax ID/APN: | 460-16-03-066 |
Percent Occupied: | 100% |
Property Condition: | Good |
Year Built: | 1840 |
Construction/Siding: | Wood Siding |
Parking Type: | Surface |
Water Service: | Municipal |
Sewer Type: | Municipal |
Demographic Statistics
Proximity: | 1 mile | 3 miles | 5 miles |
---|---|---|---|
Total Population: | 20,974 | 59,201 | 139,771 |
Median Age: | 27.55 | 34.5 | 36.5 |
Households: | 8,522 | 25,034 | 58,574 |
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