702 Ocean Blvd Isle of Palms, SC 29451
Estimated Value: $6,291,000 - $6,722,000
6
Beds
6.5
Baths
3,438
Sq Ft
$1,874/Sq Ft
Est. Value
Highlights
- Beach Front
- Marina
- Fitness Center
- Sullivans Island Elementary School Rated A
- Boat Ramp
- In Ground Pool
About This Home
As of April 2021This perfect oceanfront home is well-built, meticulously maintained & nicely decorated! Located on the more desirable Ocean Blvd, this home was built as a primary residence, but is currently on a vacation rental program (over $270,000 gross rental income in 2020 not counting taxes/fees). There is plenty of room for your family and friends as the home is furnished to sleep 18 (rental license allows 14) in 6 bedrooms, 5 with ensuite baths, plus a hall bath and powder room. Four bedrooms are oceanfront with deck/porch access and the other 2 have ocean views, The gunite in-ground pool has an integral ''South Beach-worthy'' hot tub/spa and table with bar stools in the shallow end. The 'wet patio' is a great place for kids to play or for in-water lounge chairs or even dining with your toes wet!You will love the open floor plan. The oceanfront great room features a large TV above the handsome gas fireplace, if you can look away from the glorious, panoramic ocean views. Built-in bookcases for all your summer beach books flank the fireplace and a wet bar with second ice-maker stands ready for making boat drinks.
The oceanfront dining room has an expandable long table for 10, 12, maybe 14 guests! Bar stool seating is also available. Glass doors lead to a gracious covered porch which runs the entire width of the home. This porch features another large dining table and rocking chairs, would be a great place for your hammock! Head down the stairs if you are in the mood to dine al fresco next to the pool at an umbrella table or shady covered area under the porches. The umbrella table can even be set up in the wet patio area of the pool if you want to get your toes wet without swimming.
Enjoy breathtaking sunrises if you are an early riser or watch the dolphins and para-sailors almost daily. Even cloudy or rainy days are stunningly beautiful as the sea changes colors. Surprisingly, although not west-facing, the sky and ocean reflect the pink and yellow of the daily sunsets, too.
The kitchen is open to the oceanfront great room and dining area and has ocean views out the side kitchen windows as well. The chefs' kitchen has handsome white wood cabinetry with display shelves and a lower corner cabinet lazy-Susan, The island features a stainless steel downdraft gas range and room for bar stools. Other appliances include a dishwasher, built-in microwave and two refrigerators (one for your cold beverages). Solid surface counters (more practical for rental homes than granite) make clean-up a breeze. Don't miss the handy walk-in pantry.
All living areas have warm heart pine hardwood floors (bedrooms have high end nylon berber carpet). Since the home is currently a weekly rental, most high-end interior and exterior furnishings, equipment, accessories and artwork can convey. The kitchen is especially well-equipped for serving a crowd. There is plenty of outdoor teak furniture, plus some resin furniture to use in the pool.
While there is a downstairs oceanfront master bedroom (king size bed) and marble bath with access to a covered porch, the upstairs master bedrooms are more luxurious. Also downstairs, there are two more ocean-view (queen) bedrooms with ensuite baths, plus a powder room.
Upstairs, a huge oceanfront kids bunk room (currently furnished to sleep 6) with hall bath would also make a great upstairs family room. Most bathrooms have solid surface counters (pedestal sink in powder room).
The two upstairs oceanfront master bedrooms each have dual walk-in closets and truly deluxe bathrooms with two vanities, jetted tubs & glass/tile showers with benches to enjoy the body sprays & dual shower heads. The larger upstairs master bedroom is currently furnished with two queen beds, although primary homeowners may prefer this bedroom with larger walk-in closets. The other upstairs master bedroom easily fits a king size bed. Please note that one walk-in closet in each upstairs master bedroom is currently locked (used as owners' closets).
A laundry with high efficiency extra-large capacity front-load washer & dryer and 2 (locked) linen closets complete the upstairs. A spacious upstairs sundeck runs the full width of the home and is usually toasty, even on winter days.
The yard was professionally landscaped with tropical palms & flowers. The best feature is the ultimate pool with a hot tub/spa that spills over into the main pool, an integral kiddie pool with fountains that doubles as a "wet patio" (shallow area to put lounge chairs or a table in the pool, to keep your ankles cool), even a cocktail area with bar stools & benches right in the pool! The large pool surround is imported travertine and includes a large area under the house for shade. A private boardwalk to the ocean is completed by a dune walkover to watch the sunset or gaze at the surf (or surfers).
At least 5 cars can be creatively parked in the curved driveway such that no cars must be moved for other cars to come & go (6 car maximum for rentals). For the owner, there is room for 4 cars to park under the home & maybe 12 more in the drive. Front steps are Epe (extremely hard wood) and porches & decks (over 1000 square feet) were recently re-sealed. Hardi-trim was added to the Hardiplank siding for low maintenance and durability. Window treatments include plantation shutters & custom draperies. Windows & doors are Anderson. Attic has open-cell spray foam insulation for lower HVAC bills.
The 2017 City of Isle of Palms Local Comprehensive Beach Management Plan (available online) explains that "There are two types of shoreline zones on the Isle of Palms: unstabilized inlet zones at each end, and a standard zone in the center." This home is located in the approximately three mile long standard zone between 6th Avenue and 47th Avenue. There is a "persistent, long-term trend of accretion" at this end of the island, the opposite of erosion! Another interesting fact is that the Isle of Palms varies in width from 0.35 miles at this end to 1.6 miles at the other end. There are fewer homes per foot of beach on this peaceful end of the island! Plus, no public on-street parking in front of this home makes it much quieter during the summer.
Please verify with your insurance agent, but it looks like the flood zone will be changing soon from VE 19 to VE 13! This should mean the cost of insurance will be less.
This location is approximately midway between the Isle of Palms Connector bridge and the Breach Inlet bridge to Sullivans Island, making it quick and easy to drive downtown or to the airport. There are many great restaurants and shopping on the two islands and in upscale Mount Pleasant. There are nearby boat ramps and boat slips for sale or for rent. The Isle of Palms recreation center has tennis courts and fitness classes. Wild Dunes Resort has a Harbor Friends Golf Program offering VIP access to its Harbor Course & other perks (low annual membership fee). Please verify, if important.
This home is located in the nicest stretch of Ocean Blvd (perfect distance from commercial district & far from dangerous Breach Inlet currents) & is not adjacent to a public beach access path. The lot is deeded to high tide & has been getting larger!
Please note limited window for primary home owners to buy and occupy this home at closing without having to honor 90 days of post-closing rental reservations already on the books for 2021. Per SC law, buyers must honor rental reservations booked for 90 days after closing. As of list date, for closings January 2, 2021 or very shortly thereafter (maybe 1/25/21), there should be no future bookings required to be honored due to current owner blocking some weeks. Current owner has not blocked all spring weeks, so this could change at any time. At time of listing, weekly rentals begin 4/25/21 and all summer weeks are already booked for 2021.
Last Agent to Sell the Property
AgentOwned Realty Preferred Group License #20359 Listed on: 12/02/2020
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $42,245
Year Built
- Built in 1995
Lot Details
- 0.56 Acre Lot
- Beach Front
- Wood Fence
- Interior Lot
- Irrigation
Parking
- 4 Car Garage
- Carport
- Off-Street Parking
Home Design
- Traditional Architecture
- Pillar, Post or Pier Foundation
- Architectural Shingle Roof
- Cement Siding
Interior Spaces
- 3,438 Sq Ft Home
- 2-Story Property
- Wet Bar
- Smooth Ceilings
- Cathedral Ceiling
- Ceiling Fan
- Gas Log Fireplace
- Thermal Windows
- Window Treatments
- Insulated Doors
- Entrance Foyer
- Family Room with Fireplace
- Great Room
- Formal Dining Room
- Exterior Basement Entry
Kitchen
- Eat-In Kitchen
- Dishwasher
- Kitchen Island
Flooring
- Wood
- Marble
- Ceramic Tile
Bedrooms and Bathrooms
- 6 Bedrooms
- Double Master Bedroom
- Dual Closets
- Walk-In Closet
- Whirlpool Bathtub
- Garden Bath
Laundry
- Laundry Room
- Dryer
- Washer
Pool
- In Ground Pool
- Spa
Outdoor Features
- Deck
- Covered patio or porch
- Exterior Lighting
- Separate Outdoor Workshop
Schools
- Sullivans Island Elementary School
- Laing Middle School
- Wando High School
Utilities
- Cooling Available
- Forced Air Heating System
- Tankless Water Heater
Community Details
Overview
- Isle Of Palms Subdivision
Recreation
- Boat Ramp
- Boat Dock
- Marina
- Tennis Courts
- Fitness Center
- Park
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Dec 2, 2020
Closed on
Apr 1, 2021
Sold by
Ferrell John J and Mitchell Melinda K
Bought by
Morgan David and Solis Morgan
Seller's Agent
Melinda Mitchell
AgentOwned Realty Preferred Group
Buyer's Agent
Elizabeth Shirley
BHHS Carolina Sun Real Estate
List Price
$4,100,000
Sold Price
$4,100,000
Total Days on Market
74
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,341,113
Avg. Annual Appreciation
11.38%
Original Mortgage
$2,000,000
Outstanding Balance
$1,826,520
Interest Rate
3.05%
Mortgage Type
New Conventional
Estimated Equity
$4,614,593
Purchase Details
Closed on
Sep 15, 2005
Sold by
Covington James M
Bought by
Ferrell John J and Mitchell Melinda K
Similar Homes in Isle of Palms, SC
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Morgan David | $4,100,000 | None Available | |
| Ferrell John J | $3,000,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Morgan David | $2,000,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/02/2021 04/02/21 | Sold | $4,100,000 | 0.0% | $1,193 / Sq Ft |
| 03/03/2021 03/03/21 | Pending | -- | -- | -- |
| 12/02/2020 12/02/20 | For Sale | $4,100,000 | -- | $1,193 / Sq Ft |
Source: CHS Regional MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2023 | $42,245 | $184,500 | $0 | $0 |
| 2022 | $39,851 | $184,500 | $0 | $0 |
| 2021 | $29,935 | $140,000 | $0 | $0 |
| 2020 | $29,524 | $140,000 | $0 | $0 |
| 2019 | $27,059 | $121,740 | $0 | $0 |
| 2017 | $25,879 | $121,740 | $0 | $0 |
| 2016 | $24,836 | $121,740 | $0 | $0 |
| 2015 | $23,655 | $121,740 | $0 | $0 |
| 2014 | $26,502 | $0 | $0 | $0 |
| 2011 | -- | $0 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Melinda Mitchell
M
Seller's Agent in 2021
Melinda Mitchell
AgentOwned Realty Preferred Group
(843) 324-7603
3 in this area
24 Total Sales
-
Elizabeth Shirley
Buyer's Agent in 2021
Elizabeth Shirley
BHHS Carolina Sun Real Estate
(843) 276-2970
15 in this area
108 Total Sales
Map
Source: CHS Regional MLS
MLS Number: 20032186
APN: 568-11-00-216
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