Build 24 Units or 7+ Single Family Homes

Multi-Family for Sale
Catylist Listing ID: 30679682
Property Subtypes: Duplex/Fourplex
Number of Units: 8 Units
Building Size (RSF): 6,734 SF
Gross Building Area: See Agent
Sale Price: $649,000
Unit Price: $81,125 Per Unit
Property Use Type: Investment
Usable Size (USF): 6,276 SF
Sale Terms: Cash to Seller
Cap Rate: 5.0%
Average Occupancy Rate: 100
Last Updated: 7/17/2021

Overview / Comments

Location, location, location! Excellent opportunity to develop one of the best parcels in Pawleys Island while enjoying existing income from the current units. Property is next to tidelands new residential homesite and 2 parcels down is another new residential homesite. Property is also a short golf cart ride to Pawleys Island beach down the south causeway. Take advantage of the existing 3 buildings with 8 units grossing over $50,000 but the greatest value is in the land. 2 acres in x-flood zone with many reports completed for development. 2 buildings and 24 units or7+ single family homes have been planned for the site. Army Corps of Engineers Report, GeoTech, Engineers report, General Residential Zoning have all been completed. Use the current income to offset fees while you're developing, permitting, etc. Property is always full and sellers have a waiting list of people wanting to rent the units. Property being sold as-is.

Additional Details

Nearest MSA: Georgetown
County: Georgetown
Taxing Authority: Georgetown
Tax ID/APN: 04-0165-045-00-00
Zoning: GENERAL RESIDENTIAL
Percent Occupied: 100%
Property Located Between: Tidelands Trail & Player Road
Highway Access: Highway 17
Site Description: Flat, cleared
Total Number of Buildings: 3
Property Condition: Fair
Number of Stories: 2
Year Built: 1960
Construction/Siding: Wood Siding
Parking Type: Surface
Laundry: Shared
Sprinklers: None
Heat Type: Electricity
Heat Source: Wall Units
Fuel: Electric
Air Conditioning: Window Unit
Zoning Description: General Residential
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOT E-1 TRUE BLUE PL

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,795 7,340 13,587
Median Age: 55.98 51.18 54.48
Households: 858 3,293 6,161

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