NOT LISTED FOR SALE

Estimated Value: $5,938,094 - $8,195,000

8 Beds
6 Baths
4,320 Sq Ft
$1,625/Sq Ft Est. Value

Last Sold April 07, 2021

Last sale price $5,000,000 $1,157 Per Sq Ft

Est. 40% increase in value since last sale

Current estimated payment $44,856/month

Highlights

  • Elevator
  • Cooling Available
  • 2 Car Garage
  • Sullivans Island Elementary School Rated A
  • Ceiling Fan
  • Wood Siding

About This Home

As of April 2021

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.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.

Last Agent to Sell the Property

Reta Hampton

Reinay Holdings, LLC Listed on: 03/11/2021

Last Buyer's Agent

Alexander Brener

Carolina One Real Estate License #109800

Carolina One Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $80,247

Year Built

  • Built in 1991

Lot Details

  • 0.49 Acre Lot

Parking

  • 2 Car Garage
  • Garage Door Opener
  • Open Parking

Home Design

  • Triplex
  • Pillar, Post or Pier Foundation
  • Asphalt Roof
  • Wood Siding

Interior Spaces

  • 8 Bedrooms
  • 4,320 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Dishwasher

Laundry

  • Dryer
  • Washer

Schools

  • Sullivans Island Elementary School
  • Moultrie Middle School
  • Wando High School

Utilities

  • Cooling Available
  • Heating Available
  • Well

Listing and Financial Details

  • Tenant pays for escalations only, no utilities

Community Details

Building Details

  • Operating Expense $50,000
  • Gross Income $200,000
  • Net Operating Income $150,000

Additional Features

  • 3 Units
  • Elevator

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$80,247

Year Built

Built in 1991

Lot Details

0

Parking

2

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1991
  • Lot Size Acres: 0.49
  • Inclusions: All Furniture,Some Furniture
  • Subdivision Name: None
  • 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.
  • Garage Yn: Yes
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Triplex
  • ResoBuildingAreaSource: Assessor
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Appliances: Dishwasher, Dryer, Refrigerator, Washer
  • Total Bedrooms: 8
  • Interior Amenities: Ceiling Fan(s)

Exterior Features

  • Roof: Asphalt
  • Construction Type: Wood Siding
  • Foundation Details: Pillar/Post/Pier
  • Property Condition: Pre-Owned

Garage/Parking

  • Covered Parking Spaces: 2
  • Garage Spaces: 2
  • Open Parking: Yes
  • Parking Features: Garage Door Opener, 2 Car, Garage
  • Total Parking Spaces: 2

Utilities

  • Cooling Y N: Yes
  • Heating: Electric
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: Dominion Energy, SI W/S Comm
  • Water Source: Public, Well

Condo/Co-op/Association

  • Community Features: Elevators

Schools

  • Elementary School: Sullivans Island
  • High School: Wando
  • Middle Or Junior School: Moultrie

Lot Info

  • Lot Size Sq Ft: 21344.399999
  • Zoning Description: Conforming
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: Escalations Only, No Utilities

Tax Info

  • Tax Map Number: 5291200067

Multi Family

  • Number Of Units Total: 3
  • Annual Gross Income: 200000
  • Property Net Operating Income: 150000
  • Annual Operating Expense: 50000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 11, 2021
Closed on
Apr 7, 2021
Sold by
Reinay 2907 Marshall Llc
Bought by
Chen Linda and Chance Paul
Seller's Agent
Reta Hampton
Reinay Holdings, LLC
Buyer's Agent
Alexander Brener
Carolina One Real Estate
List Price
$5,200,000
Sold Price
$5,000,000
Premium/Discount to List
-$200,000
-3.85%
Current Estimated Value
$7,018,698

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,018,698
Avg. Annual Appreciation
8.27%

Purchase Details

Closed on
Mar 1, 2013
Sold by
Siegling Mary Helen and Wright Ann Barry
Bought by
Reinay 2907 Marshall Llc

Purchase Details

Closed on
Nov 16, 2009
Sold by
Siegling Mary Helen
Bought by
Siegling Mary Helen and Wright Ann Barry

Purchase Details

Closed on
Jan 23, 2002
Sold by
Siegling Mary Helen
Bought by
Siegling Mary Helen and Trust B Of The Barry Family Trust
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
Chen Linda $5,000,000 None Available
Reinay 2907 Marshall Llc $1,380,000 --
Siegling Mary Helen -- --
Siegling Mary Helen -- --
Siegling Mary Helen -- --
Barry Helen B -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Siegling Mary Helen $280,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/07/2021 04/07/21 Sold $5,000,000 -3.8% $1,157 / Sq Ft
03/11/2021 03/11/21 Pending -- -- --
03/11/2021 03/11/21 For Sale $5,200,000 -- $1,204 / 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 $80,247 $300,000 $0 $0
2023 $80,247 $300,000 $0 $0
2022 $75,702 $300,000 $0 $0
2021 $23,836 $95,220 $0 $0
2020 $23,484 $95,220 $0 $0
2019 $20,822 $82,800 $0 $0
2017 $19,086 $82,800 $0 $0
2016 $9,221 $63,200 $0 $0
2015 $9,250 $63,200 $0 $0
2014 $8,535 $0 $0 $0
2011 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Source: CHS Regional MLS

MLS Number: 21006374

CHS Regional MLS

APN: 529-12-00-067