196 Rutledge Avenue, Charleston, SC 29403 (MLS# 20015529)

196 Rutledge Avenue, Charleston, SC 29403

$2,800,000
Property Type: MultiFamily Square Footage: 6,025 Lot Size (sq. ft.): 8,712 Status: Closed
Current Price: $2,800,000 List Date: 6/08/2020 Last Modified: 8/09/2023

Overview

Description

A great opportunity to step into an existing business with continual cash flow that has bookings into 2021. The 196 Rutledge Avenue Inn, circa 1910, has been operating since 2011. We invite you to review for yourself over 800-5 star reviews of our rental history. The main house was renovated down to the studs in 2008. All electric, plumbing, and HVAC were updated at that time. A ”cottage” was built at 194 Rutledge Avenue in 2008, beside the main house. There is off-street parking for 8 cars. The main house boasts high ceiling with original molding and mahogany inlaid wood floors. Units A and B have spacious open-concepts, measuring over 1350 sq. ft with two large bedrooms and two and a half bathrooms. Units C & D are 800 sq.ft each and feature 1BR/1BA. Agent is part owner.

Supplements: The cottage is approximately 1550 sq.ft. It is a 2 story single unit that has 2BR/2.5BA. It has a private fenced front yard that a gorgeous grand magnolia tree that provides wonderful shade for your afternoon tea or cocktails. The cottage is setback from Rutledge Avenue which provide a quiet and private setting that can be unique to an urban sett

Listing Details MLS# 20015529

Location, Tax & Legal

Tax Map #
4601502063
Street #
196
Street Name
Rutledge
Street Suffix
Avenue
County
Charleston
State
SC
Zip Code
29403
Area
51 – Peninsula Charleston Inside of Crosstown
Tax District
71 – City of Charleston
Subdivision
Cannonborough-Elliotborough
Elementary School
Memminger
Middle School
Simmons Pinckney
High School
Burke
Legal Description
194 196 RUTLEDGE AND OLIVER CT

Contract Info

MLS List Date
2020-06-07
Primary Structure List Price/SqFt
481.33

General Property Info

Number of Units
5
# Stories
2
Ground Level
No
Primary Structure Apx SqFt
6025
Year Built
1910
Acreage
0.2
Lease Purchase
No
Potential Short Sale
No

Income Expenses Fees

Annual Expenses
122500
Net Income
223000

Status Change Info

Sold Date
2021-06-11
Sold Price/SqFt
464.73
New Mortgage Type
Conventional

Unit 1

SqFt
1275

More Information

Unit 2

SqFt
1350

Unit 3

SqFt
885

Unit 4

SqFt
750

Unit 5

SqFt
1550

Income, Expenses & Fees

Gross Income
345500
Auction
No

SqFt Source

Appraisal
Yes
Tax Records
Yes

Roof

Architectural
Yes
Metal
Yes

Exterior

Wood Siding
Yes
See Remarks
Yes

Foundation

Crawl Space
Yes

Zoning

Conforming
Yes

Garage/Parking

Other (Use Remarks)
Yes

Architectural Style

Quadplex
Yes
Single Family Detached
Yes

New Owned/Pre-owned

Pre-Owned
Yes

Equipment/Appliances

Ceiling Fan
Yes
Dishwasher
Yes
Disposal
Yes
Gas Range
Yes
Microwave
Yes
Refrigerator
Yes
Stacked Washer/Dryer
Yes

Cooling

Central Air
Yes

Heat

Forced Air
Yes
Heat Pump
Yes

Amenities

Trash
Yes

Sale Includes

All Furniture
Yes
Other (Use Remarks)
Yes

Proposed Financing

Any
Yes

Tenant Pays

No Utilities
Yes

Possession

At Closing
Yes

Special

Flood Insurance
Yes

Water/Sewer

Public Sewer
Yes
Public Water
Yes

Utility Suppliers

Charleston Water Service
Yes
Dominion Energy
Yes

Property Features

SqFt Source: Appraisal; Tax Records Roof: Architectural; Metal Exterior: Wood Siding; See Remarks Foundation: Crawl Space Architectural Style: Quadplex; Single Family Detached Zoning: Conforming Cooling: Central Air Heat: Forced Air; Heat Pump Amenities: Trash Sale Includes: All Furniture; Other (Use Remarks) Tenant Pays: No Utilities Proposed Financing: Any Possession: At Closing Special: Flood Insurance Utility Suppliers: Charleston Water Service; Dominion Energy
IDX
Listing Office: Dana Properties, LLC
Last Updated: August – 09 – 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.