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: $1,575,000
Unit Price: $393,750 Per Unit
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/17/2022

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 now has a friend /property manager living in the first floor unit through 12/31/2022 at $0/m. The second floor lease expires Aug 1,2023 @$2200/m for 2bd 1ba. The third floor tenant has been there 8 yrs and currently pays $1400/m for 2bd, 1ba and month to month lease.. The carriage house is a 2 yr tenant and pays $1200/m month to month. 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

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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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