$1,199,000

Estimated payment $7,581/month

10 Beds
-- Bath
4,368 Sq Ft
$274 Price per Sq Ft

Highlights

  • Central Air
  • Mt. Pleasant Academy Rated A
  • Heating Available

About This Home

918 Sea Gull Drive presents investors with a rare opportunity to acquire a stabilized Quadplex in South Mount Pleasant, one of Charleston's most desirable submarkets. Comprised of two 3-bedroom / 1.5-bath units and two 2-bedroom / 1-bath units, collectively generating $8,000 per month ($96,000 annually) in current income. At 1.2m, the asset reflects a 6.3% cap rate on in-place income, assuming a 35% expense ratio. All tenants are on month-to-month leases, providing immediate flexibility for rental growth. Current rents are below market, with comparable two-bedroom units averaging $2,620 and three-bedroom units averaging $2,980, creating strong upside potential. Pro forma rents at market levels suggest annual income could exceed $136,800, yielding an 8.3% cap.

Listing Agent

Mary Beth Wichlei

Three Real Estate LLC License #52280 SC Listed on: 10/06/2025

Co-Listing Agent

Jake Stradling

Three Real Estate LLC License #131540

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1976

Lot Details

  • 9,583 Sq Ft Lot

Home Design

  • Quadruplex
  • Brick Foundation
  • Slab Foundation
  • Asphalt Roof

Interior Spaces

  • 10 Bedrooms
  • 4,368 Sq Ft Home
  • 2-Story Property

Schools

  • James B Edwards Elementary School
  • Moultrie Middle School
  • Lucy Beckham High School

Utilities

  • Central Air
  • Heating Available

Community Details

  • 4 Units
  • Shemwood Subdivision

Property Details

Home Type

Multi-Family

Year Built

Built in 1976

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1976
  • Lot Size Acres: 0.22
  • Co List Office Phone: 843-500-8188
  • Subdivision Name: Shemwood
  • Directions: Take Chuck Dawley Boulevard To Sea Gull Dr.
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Quadruplex
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Total Bedrooms: 10

Exterior Features

  • Roof: Asphalt
  • Construction Type: Brick
  • Foundation Details: Slab
  • Other Structures: No
  • Property Condition: Pre-Owned

Garage/Parking

  • Open Parking: No

Utilities

  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Central
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: Dominion Energy, Mt. P. W/S Comm

Schools

  • Elementary School: James B Edwards
  • High School: Lucy Beckham
  • Middle Or Junior School: Moultrie

Lot Info

  • Lot Size Sq Ft: 9583.2

Rental Info

  • Tenant Pays: Electric, Gas Cooking

Multi Family

  • Number Of Units Total: 4

Map

Range of Values:

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ICE

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/06/2025 10/06/25 For Sale $1,199,000 -- $274 / Sq Ft
Source: CHS Regional MLS

Source: CHS Regional MLS

MLS Number: 25027072

CHS Regional MLS