58 Pitt Street
Multi-Family
for Sale
| Catylist Listing ID: |
30798624 |
| Property Subtypes: |
Duplex/Fourplex
|
| Number of Units: |
4 Units |
| Building Size (RSF): |
3,355 SF |
| Gross Building Area: |
See Agent |
| Sale Price: |
$1,695,000 |
| Unit Price: |
$423,750 Per Unit |
| Property Use Type: |
Vacant/Owner-User |
| Sale Terms: |
Cash to Seller, Owner Financing |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/19/2022 |
Overview / Comments
The house is believed to have been built in 1900 and current family has owned it since 1960. The house consist of 3 floors and also has a carriage house. Each unit has its own electrical & water meters with 1 hour fire rated separations and could possibly have 1 short term rental if desired or turned back into a single family dwelling.
The property is located across the street from Bethel UMC. The College of Charleston Library is located next door, MUSC is 2 blocks away and Roper Hospital is 5 blocks away. Off street parking for 3 cars in the driveway. The property is not in a flood zone and owner states it sits 30'' above grade. The house and carriage house were gutted in 1991 to have electrical, plumbing, HVAC upgrades and the 1 hour fire rated separations installed along with separate electric & water meters for each unit. The house original heart of pines floors were sealed with a commercial moisture cure and look great. The roof was recoated in 2018, exterior was repainted and screens added in 2021. The carriage house stucco replaced & repainted in 2021.
The owner has lived in the first floor unit. The second floor tenants are students and lease expires June 30, 2022. They current pay $1800 per month. 2bd 1ba. The third floor tenant has been there 8 yrs and currently pays $1200/m for 2bd, 1ba. Lease expires August 31, 2022. The carriage house is a 2 yr tenant and pays $1000/m and lease expires August 31, 2022. Seller states the rents will increase if renewed and understands the rents are way under market rent. The taxes for 2021 were $12,129.27 and insurance ran $7909.72.
Seller will consider owner financing with 20% and acceptable offer .
|
Additional Details
| Nearest MSA: |
Charleston-North Charleston |
| County: |
Charleston |
| Submarket/Township: |
51 - Peninsula Chas. inside of crosstown |
| Tax ID/APN: |
4570401138 |
| Zoning: |
DR-1F - Diverse Residential (19.4 units per acre) |
| Percent Occupied: |
100% |
| Property Located Between: |
Calhoun & Bull Street |
| Total Number of Buildings: |
2 |
| Property Condition: |
Good |
| Number of Stories: |
3 |
| Year Built: |
1900 |
| Construction/Siding: |
Stucco, Wood Siding |
| Exterior Description: |
House is wood siding & carriage house is stucco |
| Parking Type: |
Surface |
| Parking Description: |
Driveway can accommodate 3 cars. The tenants can apply to the City of Charleston Annually with their lease for off street parking passes. |
| Total Parking Spaces: |
3 |
| Laundry: |
In Each Unit |
| Sprinklers: |
None |
| Heat Source: |
Central |
| Fuel: |
Electric |
| Air Conditioning: |
Package Unit |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
20,778 |
59,201 |
136,436 |
| Median Age: |
29.11 |
34.5 |
36.62 |
| Households: |
8,778 |
25,034 |
57,232 |
|
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