Isle Of Palms, SC 29451
- 4Beds
- 3Full Baths
- N/AHalf Baths
- 1,829SqFt
- 1967Year Built
- 0.27Acres
- MLS# 23011258
- Residential
- Single Family Detached
- Sold
- Approx Time on Market7 months, 2 days
- AreaIsle of Palms
- CountyCharleston
- Subdivision Isle Of Palms
Overview
Incredible investment opportunity to own an income producing, renovated home near the beach on Isle of Palms with an in-ground pool! This property comes with a long-term lease generating $12k/month until March 14, 2024. The current tenant has two 1-year options to renew with annual increases upon renewal. Owner pays no management fees and the tenant covers all utilities, pool maintenance, landscape maintenance, cleaning, and common wear & tear expenses. Seller pays taxes, insurance, and only major repairs resulting in a cap rate of over 5.4%. At the end of the lease term, the possibility exists to short term rent the property if desired offering an opportunity to increase the cap rate even further! The interior of this home has been tastefully updated, showcasing a modern aesthetic andthoughtful design. The renovations have been skillfully executed, resulting in a space that is both functional and visually appealing. Each room is bathed in natural light, creating a bright and airy ambiance. As you explore the property, you'll discover several notable features that make this home truly exceptional. A new roof and HVAC system provide peace of mind, ensuring comfort and efficiency for years to come. The addition of the brand-new pool offers the perfect oasis for relaxation and entertainment, ideal for cooling off during those warm summer days. The large fenced yard provides privacy and ample space for outdoor activities or hosting gatherings. For added convenience, a 1-car garage is included, offering secure parking and additional storage options. Currently rented, this property presents an excellent opportunity for investors seeking a turnkey investment. Alternatively, for those looking to make Isle of Palms their permanent residence, this home offers the flexibility to continue renting until the lease is up, and then transition into a retirement haven or explore the possibility of short-term rentals. Don't miss out on this fantastic opportunity to own a renovated gem in one of South Carolina's most sought-after beach communities.
Sale Info
Listing Date: 05-19-2023
Sold Date: 12-22-2023
Aprox Days on Market:
7 month(s), 2 day(s)
Listing Sold:
10 month(s), 25 day(s) ago
Original Asking Price: $1,895,000
Asking Price: $1,850,000
Selling Price: $1,830,000
Price Difference From Original:
Reduced By $65,000
Price Difference From Asking:
Reduced By $20,000
Agriculture / Farm
Grazing Permits Forest Service: No
Grazing Permits Private: No
Grazing Permits Blm: No
Horse: No
Farm Credit Service Incl: No
Association Fees / Info
Community Features: Trash
Bathroom Info
Fullbaths: 3
Building Info
Levels: One
Window Features: Window Treatments - Some
Year Built: 1967
Business Info
Rent Control: No
Buyer Compensation
Exterior Features
Fencing: Fence - Metal Enclosed
Misc Ext: Patio
Pool Private: Yes
Pool Features: In Ground
Style: Ranch
Garage / Parking
Gar Pkg: 1 Car Garage, Attached, Off Street
Garage: Yes
Attached Garage: Yes
Green / Env Info
Interior Features
Interior Features: Ceiling - Cathedral/Vaulted, Ceiling - Smooth, High Ceilings, Kitchen Island, Ceiling Fan(s), Eat-in Kitchen, Great
Fireplace: No
Laundry Features: Laundry Room
Lot Info
Lot Size: 0.27
Lot Desc: 0 - .5 Acre
Lot Size Units: Acres
Acres: 0.27
Lot Sqft: 11761.2
Irrigation Water Rights: No
Offer Compensation
Other
Mobile Home Remains: No
Property Info
Property Type: A
Stories: 1
Foundation: Crawl Space
Exterior: Brick Veneer, Vinyl Siding
New Construction: No
Roof: Asphalt
Property Subtype: None
Building Area Units: Square Feet
Special: Flood Insurance
Entry Location: Ground Level
View: No
Home Warranty: No
Habitable Residence: No
Room Info
Beds: 4
Primary Bedroom Features: Ceiling Fan(s), Dual Masters, Outside Access
Room Master Bedroom Level: Lower
Sale / Lease Info
Sold Date: 2023-12-22T00:00:00
Lease Renewal Option: No
Lease Considered: No
Lease Assignable: No
Special Features
Sqft Info
Sqft: 1829
Unit Info
Utilities / Hvac
Water Source: Public
Utilities: Dominion Energy, IOP W/S Comm
Heating: Yes
Heat: Electric
Cooling: Central Air
Cooling: Yes
Waterfront / Water
Waterfront: No
Directions
Coming Off Isle Of Palms Connector, Turn Left Onto To Palm Blvd. Turn Left Onto 20th Ave, Home Is On The Right.Courtesy of listing office Keller Williams Realty Charleston West Ashley
MLS# 24017592 
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