, Sullivans Island, SC 29482 (MLS# 21006374)


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Sullivans Island, SC 29482

$5,000,000
Property Type: MultiFamily Square Footage: 4,320 Lot Size (sq. ft.): 21,344 Status: Closed
Current Price: $5,200,000 List Date: 3/11/2021 Last Modified: 4/13/2023

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.

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.

More Information MLS# 21006374

Contract Info

Primary Structure List Price/SqFt: 1203.7 MLS List Date: 2021-03-11 Status: Closed List Price: $5,200,000 Current Price: $5,000,000

Location, Tax & Legal

Legal Description: LOT2 BLK 8, Marshall Reservation 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

# Stories: 2 Ground Level: No Lease Purchase: No Potential Short Sale: No Number of Units: 3 Primary Structure Apx SqFt: 4320 Year Built: 1991 Acreage: 0.49

Income, Expenses & Fees

Gross Income: 200000 Auction: No

Status Change Info

Sold Price/SqFt: 1157.41 New Mortgage Type: Cash Sold Date: 2021-04-07

SqFt Source

Tax Records: 1

Unit 1

SqFt: 2798 Bedrooms: 4 Baths: 4

Unit 2

SqFt: 880 Bedrooms: 2 Baths: 1

Unit 3

SqFt: 880 Bedrooms: 2 Baths: 1

Roof

Asphalt Shingle: 1

Exterior

Wood Siding: 1

Foundation

Piling: 1

Zoning

Conforming: 1

Garage/Parking

2 Car: 1 Garage: 1

Driveway

Concrete: 1

Architectural Style

Triplex: 1

New Owned/Pre-owned

Pre-Owned: 1

Equipment/Appliances

Built-In Gas Oven: 1 Ceiling Fan: 1 Dishwasher: 1 Dryer: 1 Garage Door Opener: 1 Gas Cooktop: 1 Gas Range: 1 Refrigerator: 1 Washer: 1

Cooling

Central Air: 1

Heat

Electric: 1

Amenities

Elevators: 1 Trash: 1

Sale Includes

All Furniture: 1 Building and Land: 1 Some Furniture: 1

Proposed Financing

Any: 1

Tenant Pays

Escalations Only: 1 No Utilities: 1

Possession

At Closing: 1

Water/Sewer

Public Sewer: 1 Public Water: 1 Well: 1

Utility Suppliers

Dominion Energy: 1 SI W/S Comm: 1

Income Expenses Fees

Annual Expenses: 50000 Net Income: 150000

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
Listing Office: Reinay Holdings, LLC
IDX
Last Updated: April - 13 - 2023
Properties marked with IDX logo are provided courtesy of Charleston Trident Multiple Listing Service, Inc. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than the website owner are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing this data believes it to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Information is provided exclusively for consumers' personal, non-commerical use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.


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