Luxury Multi-Family Development - 3 Single Family Units with Pools

Multi-Family for Sale
Catylist Listing ID: 30779741
Property Subtypes: Mixed Use, Other
Number of Units: 3 Units
Building Size (RSF): 6,360 SF
Gross Building Area: See Agent
Sale Price: $4,750,000
Unit Price: $1,583,333.33 Per Unit
Property Use Type: Investment
Building Name: Retreats on Hudson
Sale Terms: Cash to Seller
Cap Rate: 5.5%
Average Occupancy Rate: 80
Vacation Rental Income: Yes
Last Updated: 1/25/2022

Overview / Comments

This Luxury Simplified custom designed commercial multi-family development was completed in 2019 and is ½ a block from Center Street. The ‘Retreats on Hudson’ commercial development includes three single family homes with each property having a private swimming pool. There are two, three-bedroom properties with over 1,500 ft^ living space, and one-five bedroom property with ~2,400 ft^ living space. This development was designed to provide the owners with the ability to maximize vacation rental income by utilizing a hybrid marketing approach. This development is rented as singles, a six-bedroom option, and a 10-11 bedroom compound and continues to satisfy the consumer demand for unique luxury multi-family vacation rental options in Charleston. Each single property has a private pool, but when rented as a multi-family the exterior garden space opens to the other, providing the ability to entertain easily between each unit. This luxury commercial development gross income currently exceeds $430K annually, and is on track to exceed this income in 2022. Call listing agent for additional financial information.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 22 - Folly Beach Area to Battery Island
Taxing Authority: Charleston
Tax ID/APN: 3281400120
Zoning: GB - General Business
Percent Occupied: 80%
Community Amenities: Outdoor Pool
Property Condition: Excellent
Year Built: 2019
In Flood Plain?: Yes

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,210 18,296
Median Age: 40.23 39.01
Households: 4,390 8,133

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