Viewing Listing MLS# 19024426
Charleston, SC 29403
- 8Beds
- N/AFull Baths
- N/AHalf Baths
- 2,974SqFt
- 1935Year Built
- 0.07Acres
- MLS# 19024426
- Multi Family
- Sold
- Approx Time on Market5 months, 22 days
- AreaHistoric Charleston
- CountyCharleston
- SubdivisionElliottborough
Overview
Like new, low maintenance up/down duplex fully leased thru 7/31/2020.***8 bedrooms, 4 baths, off-street parking***flood zone X (no insurance required, little to no landscaping to maintain***gutted to the studs in 2016 with new roof, new windows, 2 new HVAC systems, all new stainless steel kitchen appliances, including 2 refrigerators, plus 2 sets of new washer/dryers, plywood window covers pre-cut for hurricanes, 2 tankless water heaters, gravel drive & back yard for parking***tenants like granite counters, white shaker-style cabinetry, tile bath floors, bamboo flooring, mini-blinds, ample closets***close to MUSC/COC with desirable 8/1/20 move in date (both units rented quickly this year @$3025/mo/ea, so rents can likely be increased next year), insurance $3274, 2018 taxes $5711.You will not find a multi-family property in better condition with this many bedrooms and baths and off-street parking in a more desirable location for rentals for this price, especially with the potential to increase rents next year. Plus, flood insurance is not required in Zone X and there is little to no landscaping to maintain, so maintenance expenses are much less. Although not new construction, much of the siding was replaced in 2016 and the roof and HVAC were also new in 2016. The electrical and plumbing were new in 2016, including wiring and pipes, all light fixtures, plumbing fixtures, etc. There are 2 electric meters and 2 water meters. Tenants pay all utilities.Tenants not only pay higher rent ($6050/month) for updated finishes and ample closets, but they appreciate the utility savings that come with tankless water heaters, high efficiency HVAC and wall insulation, all rare downtown!2018 property taxes were $5711.33 (subject to change). Current insurance (Allstate) is $3274. Flood insurance in Zone X is not required, although carried by current owner ($707). Current management company charges 10% of gross rent, but new owner is not bound to assume management contract. Current owner employs landscaping company, but there is not much to be done as there is little to no landscaping.
Sale Info
Listing Date: 08-22-2019
Sold Date: 02-14-2020
Aprox Days on Market: 
5 month(s), 22 day(s)
Listing Sold: 
4 Year(s), 2 month(s), 11 day(s) ago
Original Asking Price: $925,000
Asking Price: $925,000
Selling Price: $900,010
Price Difference From Original:
Reduced By $24,990
Price Difference From Asking:
Reduced By $24,990
Agriculture / Farm
Grazing Permits Forest Service: Yes
Grazing Permits Private: Yes
Grazing Permits Blm: Yes
Horse: No
Farm Credit Service Incl: Yes
Association Fees / Info
Bathroom Info
Building Info
Year Built: 1935
Business Info
Rent Control: No
Buyer Compensation
Exterior Features
Pool Private: No
Garage / Parking
Garage: No
Attached Garage: No
Interior Features
Interior Features: Ceiling Fan(s)
Fireplace: No
Laundry Features: Dryer Connection
Lot Info
Lot Size: 0.07
Lot Size Units: Acres
Acres: 0.07
Lot Sqft: 3049.2
Irrigation Water Rights: Yes
Offer Compensation
Other
Mobile Home Remains: Yes
Property Info
Property Type: B
Stories: 2
Foundation: Crawl Space
Exterior: Wood Siding
New Construction: No
Roof: Fiberglass
Building Area Units: Square Feet
View: No
Home Warranty: Yes
Habitable Residence: Yes
Structure Type: Duplex
Room Info
Beds: 8
Sale / Lease Info
Sold Date: 2020-02-14T00:00:00
Lease Renewal Option: Yes
Lease Considered: Yes
Lease Assignable: Yes
Sqft Info
Sqft: 2974
Unit Info
Number of Units Total: 2
Unit Bedrooms: 4
Unit Bedrooms: 4
Utilities / Hvac
Water Source: Public
Utilities: Charleston Water Service, Dominion Energy
Heating: Yes
Heat: Electric
Water Sewer: Public Sewer
Cooling: Yes
Waterfront / Water
Waterfront: No
Directions
Ashe Street Is One Of The Two Wider North/south Streets That Run Between Line Street And Spring Street, 2 Blocks East Of Rutledge Street And 2 Blocks West Of Coming Street, This Property Is Located Between Line And Bogard Streets, 2 Homes South Of Line Street On The East Side Of The Street.Courtesy of listing office AgentOwned Realty Preferred Group - 843-886-9993
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