NOT LISTED FOR SALE

Estimated Value: $1,505,000 - $2,788,587

9 Beds
5 Baths
4,300 Sq Ft
$503/Sq Ft Est. Value

Last Sold December 14, 2022

Last sale price $1,595,000 $371 Per Sq Ft

Est. 36% increase in value since last sale

Current estimated payment $14,027/month

60 Days on Market

Highlights

  • 0.14 Acre Lot
  • Heat Pump System
  • 5-minute walk to Rivers Green
  • Cooling Available

About This Home

As of December 2022

Fantastic property with tremendous rental history grossing 151,200 in annual income / insurance 10,383.00/ property taxes 20,233.35 / with leases currently in place. Historic 1800's, three unit home located downtown Charleston in the heart of Radcliffeborough. Located steps to the College of Charleston, MUSC, King Street and Marion Square this location can not be beat and is ideal for student and young professional living. Although this property is walking distance to everything downtown has to offer, it is notably important that ample off street parking (enough for 6-7 vehicles) is included with the property which is rare in this location. The three units offer different layouts all having access to one of the original double piazzas and an abundance of natural light fills each unitwith large windows located in every room. Unit A offers 4 or 5 bedrooms and 2 full bathrooms rented for 6000 per month. Unit C offers 4 bedrooms and 2 bath at 4800 per month and Unit C is one bedroom and one bath at 1800.00 per month. All boast original hardwood floors and original details such as fireplaces, crown and shoe molding, claw foot tubs and intricate trim work. Gorgeous original split french doors, exposed beams and brick are also located throughout adding upscale character to each unit. Along with the charm of a historic home, the conveniences of modern living are offered through completely renovated kitchens with stainless steel appliances and bathrooms with granite counter tops, glass shower doors and porcelain tile floors. Unit A offers a chef's kitchen with chef grade appliances and a large center island. The double piazzas are spacious and offer an outdoor living and entertaining aspect for each unit. All appliances (dishwashers, dryers, ranges,washers) have been replaced and are brand new which minimizes maintenance costs and tenant issues. In addition there is a value add with future rental rates by renting the parking spaces individually from the tenants. Leased up through 2023 Schedule a showing today

Last Agent to Sell the Property

Tift Mitchell

Tift Properties License #77945 Listed on: 09/13/2022

Last Buyer's Agent

Layne Mccombs Kipp

Dunes Properties of Chas Inc

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $26,168

Year Built

  • Built in 1895

Lot Details

  • 6,098 Sq Ft Lot

Parking

  • Open Parking

Home Design

  • Triplex

Interior Spaces

  • 9 Bedrooms
  • 4,300 Sq Ft Home
  • 2-Story Property
  • Dishwasher

Laundry

  • Dryer
  • Washer

Schools

  • Memminger Elementary School
  • Courtenay Middle School
  • Burke High School

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for all utilities

Community Details

Overview

  • 3 Units
  • Radcliffeborough Subdivision

Building Details

  • Operating Expense $30,617
  • Gross Income $151,200
  • Net Operating Income $120,583

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$26,168

Year Built

Built in 1895

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1895
  • Lot Size Acres: 0.14
  • Subdivision Name: Radcliffeborough
  • Directions: Calhoun To Pitt Street
  • Garage Yn: No
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Triplex
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Appliances: Dishwasher, Dryer, Refrigerator, Washer
  • Total Bedrooms: 9

Exterior Features

  • Property Condition: Pre-Owned

Garage/Parking

  • Open Parking: Yes
  • Parking Features: Other (Use Remarks)

Utilities

  • Cooling Y N: Yes
  • Heating: Heat Pump
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Schools

  • Elementary School: Memminger
  • High School: Burke
  • Middle Or Junior School: Courtenay

Lot Info

  • Lot Size Sq Ft: 6098.4
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: All Utilities

Tax Info

  • Tax Map Number: 4601603064

Multi Family

  • Number Of Units Total: 3
  • Annual Gross Income: 151200
  • Property Net Operating Income: 120583
  • Annual Operating Expense: 30617

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 13, 2022
Closed on
Dec 8, 2022
Sold by
Grassroots Holdings Iv Llc
Bought by
Ava-Ren-Rowan Llc
Seller's Agent
Tift Mitchell
Tift Properties
Buyer's Agent
Layne Mccombs Kipp
Dunes Properties of Chas Inc
List Price
$1,715,000
Sold Price
$1,595,000
Premium/Discount to List
-$120,000
-7%
Views
27
Current Estimated Value
$2,163,647

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$568,647
Avg. Annual Appreciation
12.19%

Purchase Details

Listed on
Feb 21, 2017
Closed on
Apr 20, 2017
Sold by
Vitamin D Holdings Llc
Bought by
Grassroots Holdings Iv Llc
Seller's Agent
Matthew Anderson
The Boulevard Company
Sold Price
$1,500,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
1.09%
Original Mortgage
$1,240,000
Interest Rate
4.3%
Mortgage Type
Commercial

Purchase Details

Closed on
May 31, 2016
Sold by
Deseta Edward J
Bought by
Vitamin D Holdings Llc

Purchase Details

Closed on
Oct 17, 2013
Sold by
Provo James M and Provo Rena S
Bought by
Deseta Edward J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$645,000
Interest Rate
4.58%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 10, 2003
Sold by
Provo James M and Provo Rena S
Bought by
Provo James M and Provo Rena S

Purchase Details

Closed on
Aug 20, 2003
Sold by
Provo James M and Provo Rena S
Bought by
Provo James M and Provo Rena S

Purchase Details

Closed on
Feb 9, 2001
Sold by
Mintz Provo James and Shumaker Rena
Bought by
Provo James M and Provo Rena S
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Ava-Ren-Rowan Llc $1,595,000 None Listed On Document
Grassroots Holdings Iv Llc $1,500,000 None Available
Vitamin D Holdings Llc -- --
Deseta Edward J $860,000 --
Provo James M -- --
Provo James M -- --
Provo James M -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ava-Ren Rowan Llc $1,576,321
Previous Owner Grassroots Holdings Iv Llc $1,240,000
Previous Owner Deseta Edward J $634,000
Previous Owner Deseta Edward J $645,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/14/2022 12/14/22 Sold $1,595,000 -4.8% $371 / Sq Ft
11/07/2022 11/07/22 Price Changed $1,675,000 -2.3% $390 / Sq Ft
09/13/2022 09/13/22 For Sale $1,715,000 +14.3% $399 / Sq Ft
04/24/2017 04/24/17 Sold $1,500,000 -- $349 / Sq Ft
Source: CHS Regional MLS

Tax History Compared to Growth

Source: Public Records

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
2024 $26,168 $91,530 $0 $0
2023 $26,168 $91,530 $0 $0
2022 $20,640 $77,630 $0 $0
2021 $20,383 $77,630 $0 $0
2020 $20,233 $77,630 $0 $0
2019 $18,473 $67,500 $0 $0
2017 $13,518 $51,600 $0 $0
2016 $13,076 $51,600 $0 $0
2015 $9,088 $44,370 $0 $0
2014 $12,304 $0 $0 $0
2011 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: CHS Regional MLS

MLS Number: 22023981

CHS Regional MLS

APN: 460-16-03-064