MLS# 24004773 | 264 Grove Street UNIT 1-4 Charleston SC | Wagener Terrace subdivision
843-225-7007
On your phone? Text us now!
You can also Email Marshall to set up a showing of this 12 Beds 0 Full Bath home for sale in the subdivision of Wagener Terrace in Charleston SC
Charleston, SC 29403
- 12Beds
- N/AFull Baths
- N/AHalf Baths
- 4,670SqFt
- 1981Year Built
- 0.09Acres
- MLS# 24004773
- Multi Family
- Active
- Approx Time on Market2 months, 7 days
- AreaHistoric Charleston - Upper Peninsula
- CountyCharleston
- SubdivisionWagener Terrace
Overview
Fantastic opportunity to own a turn-key fully furnished income producing quadplex in one of the most desirable neighborhoods on the peninsula - Wagener Terrace. Originally built in 1960, 264 Grove Street underwent a full interior and exterior renovation in 2022. Each unit within the quadplex is currently operating as a 30-day furnished rental on AirBNB & VRBO, and the entire building will be sold fully stocked and furnished. Each unit consists of 2 king bedrooms, an office with closet and window which counts as a 3rd queen bedroom w/ window & closet, 1 full bathroom, large living room, dining, kitchen and laundry. There is also a private dog park and outdoor living space in the backyard, and off street + on street parking for guests to enjoy during their stay.IMPORTANT INFORMATION:IMPORTANT INFORMATION:Seller does not currently own property as their primary residence, therefore each unit is CURRENTLY operating as a 30-day furnished executive rental bringing in $3,500-$4,500 per unit per month. The property is currently taxed at 6%. If the BUYER were to purchase the building as their PRIMARY RESIDENCE (taxed at 4%) and owner- occupy 1 unit, they may apply for the B&B permit through the City of Charleston. What this means: The City should allow 1 of the 4 units to be a NIGHTLY AirBNB (maximum income potential) - but the other 2 units would have to remain 30-day or long-term rentals, however, 30-day rentals can also be marketed on Airbnb and Vrbo platforms for maximum exposure. The city requires enough maneuverable off-street parking on site which we have confirmed the property DOES HAVE. Please ask your representation for a copy of the proforma for 1 short-term nightly rental unit in the marketing package. The projected revenue (conservative) for the 1 short-term nightly rental unit for 2024 is $125,000, and your other 2 units should bring in $3,500-$4,500/mo based on the property's rental history thus far. In short, if BUYER chooses to purchase building as their PRIMARY RESIDENCE and owner occupy 1 of the 4 units, they will have the ability to short term rent ONE UNIT on a nightly basis, and 30-day rent TWO UNITS. The PROJECTED annual revenue for this scenario would be $287,000.PROPERTY FACTS:- $400,000+ renovation in 2022. All units are turn-key.- Roof replaced in 2014- 4 Tankless water heaters installed within the last 3-5 years- All windows replaced within the last 5-8 years per previous owner- HVACs: Unit C is 6 years old, parts updated on other units- Plumbing and electrical has been updated- Property is located in X flood zone- no flood insurance requiredWagener Terrace stands as a testament to Charleston's rich history and Southern hospitality. The combination of historic homes, community spirit, and convenient location makes it a desirable place to call home in the Holy City. Hampton Park is one of the City's largest and most popular parks just a stone's throw away from 264 Grove Street, as well as multiple restaurants, coffee shops, bars, and local businesses.
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
Community Features: Dog Park
Bathroom Info
Building Info
Year Built: 1981
Business Info
Rent Control: No
Buyer Compensation
Exterior Features
Pool Private: No
Garage / Parking
Gar Pkg: Other (Use Remarks)
Garage: No
Attached Garage: No
Interior Features
Interior Features: Ceiling Fan(s)
Fireplace: No
Lot Info
Lot Size: 0.09
Lot Size Units: Acres
Acres: 0.09
Lot Sqft: 3920.399999
Irrigation Water Rights: Yes
Offer Compensation
Other
Security Features: Security System
Mobile Home Remains: Yes
Property Info
Property Type: B
Stories: 2
Foundation: Slab
Exterior: Brick, Brick Veneer
New Construction: No
Roof: Architectural
Property Subtype: None
Building Area Units: Square Feet
View: No
Home Warranty: Yes
Habitable Residence: Yes
Structure Type: Quadruplex
Room Info
Beds: 12
Sale / Lease Info
Lease Renewal Option: Yes
Lease Considered: Yes
Lease Assignable: Yes
Sqft Info
Unit Sqft: 1,167
Unit Sqft: 1,167
Unit Sqft: 1,167
Unit Sqft: 1,167
Sqft: 4670
Unit Info
Number of Units Total: 4
Unit: 1-4
Unit Bedrooms: 3
Unit Bedrooms: 3
Unit Bedrooms: 3
Unit Bedrooms: 3
Utilities / Hvac
Water Source: Public
Utilities: Charleston Water Service, Dominion Energy
Heating: Yes
Heat: Heat Pump
Water Sewer: Public Sewer
Cooling: Central Air
Cooling: Yes
Waterfront / Water
Waterfront: No
Directions
Ake Rutledge Ave To Grove Street. 264 Grove Is Located In Between 9th And 8th Ave On The Right Hand Side.Courtesy of listing office The Boulevard Company, LLC
We are FULL TIME and Full Service agents!
Wondering what your home in Wagener Terrace is worth today? Call me and lets speak about your Charleston SC Multi Family property for sale?
Call Marshall at 843-532-3214 to list your Charleston home today! : Please Bookmark https://www.marshallwalker.com for the best in Charleston real estate : Choose Marshall Walker for your real estate needs!