$5,000,000
MLS# 21006374
Status: Closed
4320 sqft
1 / 54
Property Description
OCEANFRONT, this half acre property is currently used as three units, providing consistent income with one coveted short-term rental license and two monthly licenses. The largest unit can be used as the owner's residence or rented long term. The two smaller units have both short term and monthly rental income. This is a rare opportunity to own investment property on Sullivan's Island while living on the beach. Need one large home? The grand beach house can again be used as a large family gathering place with privacy for multiple families. Prefer to build? This is one of the largest lots available oceanside for new construction. The town a short beach stroll or golf car ride away, 2907 Marshall is a great personal residence or investment opportunity.
Details
Contract Info
MLS List Date: 2021-03-11
Status: Closed
List Price: $5,200,000
Current Price: $5,000,000
Primary Structure List Price/SqFt: 1203.7
Location Tax Legal
Tax Map #: 5291200067
County: Charleston
State: SC
Zip Code: 29482
Area: 43 - Sullivan's Island
Tax District: 23 - Town of Sullivan's Island
Subdivision: None
Elementary School: Sullivans Island
Middle School: Moultrie
High School: Wando
Directions: From Ben Sawyer Boulevard across Ben Sawyer Bridge, turn left on Jasper Boulevard. Continue to Station 29 and turn right. At Marshall Boulevard, turn left and it will be the second house on the right.
General Property Info
Number of Units: 3
# Stories: 2
Ground Level: No
Primary Structure Apx SqFt: 4320
Year Built: 1991
Acreage: 0.49
Lease Purchase: No
Potential Short Sale: No
Income Expenses Fees
Annual Expenses: 50000
Net Income: 150000
Status Change Info
Sold Date: 2021-04-07
Sold Price/SqFt: 1157.41
New Mortgage Type: Cash
Unit 1
SqFt: 2798
Bedrooms: 4
Baths: 4
Unit 2
SqFt: 880
Bedrooms: 2
Baths: 1
Unit 3
SqFt: 880
Bedrooms: 2
Baths: 1
Property Features
SqFt Source: Tax Records
Roof: Asphalt Shingle
Exterior: Wood Siding
Foundation: Piling
Driveway: Concrete
Architectural Style: Triplex
Zoning: Conforming
Cooling: Central Air
Heat: Electric
Amenities: Elevators; Trash
Sale Includes: All Furniture; Building and Land; Some Furniture
Tenant Pays: Escalations Only; No Utilities
Proposed Financing: Any
Possession: At Closing
Utility Suppliers: Dominion Energy; SI W/S Comm
Supplements
Unit A is the large center unit with four bedrooms and four baths, used previously by the owners as a personal residence then rented monthly/long term. This unit contains a chef's kitchen with stainless appliances, recycled glass countertops, significant cabinet storage, large counter eating space, wine cooler and a double pantry. The living room wall of glass doors and windows overlooks the large deck with steps to the beach. The vaulted ceiling living room with fireplace is open to the kitchen, dining area and the upper floor. A guest bedroom/office is just off the living room. This level also contains a full bath with soaking tub. Upstairs are three large bedrooms, each with its own bath. The largest center bedroom has a large walk-in closet with built in storage and a full laundry room. The main bath has coastal tile and modern fixtures. The two additional bedrooms are carpeted for sound, each large enough to hold a king bed, dresser and desk. Each has a window seat with storage, subway tiled bathroom, a pebbled floor shower and modern fixtures. This unit has commercial Mitsubishi HVAC units recently installed with twelve-year warranties.
The home has two additional smaller units, each with two bedrooms and one bath, Unit B on the north side with a vacation rental license (three night minimum) and Unit C on the south with a monthly rental license (twenty-nine night minimum). Each unit has ceiling fans in all rooms, new Mitsubishi mini-split HVAC systems, stainless appliances, a full-sized stacked washer and dryer, shower in tub and pedestal sink bathrooms. Both units have a queen bedroom and bedroom with two twin beds.
Listing Office: Reinay Holdings, LLC
Last Updated: April - 13 - 2023
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