FOLLY BEACH QUADRUPLEX

Multi-Family for Sale
Catylist Listing ID: 30718155
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,870 SF
Gross Building Area: See Agent
Sale Price: $3,500,000
Unit Price: $875,000 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: 4.5%
Last Updated: 7/18/2022

Overview / Comments

Renovated, turnkey investment property located on Folly Beach South Carolina. Possessing 4 short term rental licenses, this quadruplex is one of a kind for the island as such properties rarely exchange. Recent improvements on the 2 buildings include: new roofs, duct work, HVAC units, interior and exterior paint, flooring, decking, stainless steel appliances, butcherblock countertops and renovated bathrooms. New furniture throughout to convey with purchase. The quarter- acre property has two structures, each with two, 900+ SF units. Each unit holds 2- beds and 1- bath. Each of the four units has two off- street parking places. No mandatory flood insurance required.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $14,000 (Annual)
Net Operating Income $161,274 (Annual)

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 22 - Folly Beach Area to Battery Island
Tax ID/APN: 3281500154
Year Built: 1955

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,210 19,513
Median Age: 40.23 39.26
Households: 4,390 8,615

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