106 Erie Avenue A, B, C, Folly Beach, SC 29439 (MLS# 21032914)

106 Erie Avenue A, B, C, Folly Beach, SC 29439

$3,375,000
Property Type: MultiFamily Square Footage: 5,657 Lot Size (sq. ft.): 10,454 Status: Closed
Current Price: $3,375,000 List Date: 12/22/2021 Last Modified: 12/15/2023

Overview

Description

This Luxury Simplified custom designed commercial multi-family development was completed in 2019 and is ½ a block from Center Street. The ‘Retreats on Hudson’ commercial development includes three single family homes with each property having a private swimming pool. There are two, three-bedroom properties with over 1,500 ft^ living space, and one-five bedroom property with ~2,400 ft^ living space. This development was designed to provide the owners with the ability to maximize vacation rental income by utilizing a hybrid marketing approach. This development is rented as singles, a six-bedroom option, and a 10-11 bedroom compound and continues to satisfy the consumer demand for unique luxury multi-family vacation rental options in Charleston.

Supplements: Each single property has a private pool, but when rented as a multi-family the exterior garden space opens to the other, providing the ability to entertain easily between each unit. This luxury commercial development gross income currently exceeds $430K annually, and is on track to exceed this income in 2022. Call listing agent for additional finan …

Listing Details MLS# 21032914

Location, Tax & Legal

Tax Map #
3281400120
Street #
106
Street Name
Erie
Street Suffix
Avenue
County
Charleston
State
SC
Zip Code
29439
Area
22 – Folly Beach to Battery Island
Tax District
37 – City of Folly Beach
Subdivision
Folly Beach
Elementary School
James Island
Middle School
Camp Road
High School
James Island Charter
Directions
From Folly Road turn left on E Erie. Property will be on your left
Unit #
A, B, C
Legal Description
Lt 103 E Erie

Contract Info

MLS List Date
2021-12-22
Primary Structure List Price/SqFt
839.67

General Property Info

Number of Units
3
# Stories
2
Primary Structure Apx SqFt
5657
Year Built
2019
Acreage
0.24
Lease Purchase
No
Potential Short Sale
No

Status Change Info

Sold Date
2022-04-04
Sold Price/SqFt
596.61
New Mortgage Type
Conventional

Unit 1

SqFt
2393

Unit 2

SqFt
1632

More Information

Unit 3

SqFt
1632

Income, Expenses & Fees

Gross Income
431000

SqFt Source

Builder/Owner
Yes

Architectural Style

Single Family Detached
Yes
Triplex
Yes

New Owned/Pre-owned

Pre-Owned
Yes

Equipment/Appliances

Ceiling Fan
Yes
Dishwasher
Yes
Dryer
Yes
Washer
Yes

Cooling

Central Air
Yes

Heat

Electric
Yes

Amenities

Pool
Yes

Possession

Negotiable
Yes
Tenants Rights
Yes

Property Features

SqFt Source: Builder/Owner Architectural Style: Single Family Detached; Triplex Cooling: Central Air Heat: Electric Amenities: Pool Possession: Negotiable; Tenants Rights
Listing Office: Luxury Simplified Real Estate, INC
IDX
Last Updated: December – 15 – 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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