, Sullivans Island, SC 29482 (MLS# 21006374)

Sullivans Island, SC 29482

$5,000,000
Property Type: MultiFamily Square Footage: 4,320 Lot Size (sq. ft.): 21,344 Status: Closed
Current Price: $5,000,000 List Date: 3/11/2021 Last Modified: 4/13/2023

Overview

Description

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.

Supplements: 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 w

Listing Details MLS# 21006374

Location, Tax & Legal

Tax Map #
5291200067
County
Charleston
State
SC
Zip Code
29482
Area
43 – Sullivan's Island
Tax District
23 – Town of Sullivan's Island
Subdivision
None
Elementary School
Sullivans Island
Middle School
Moultrie
High School
Wando
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.
Legal Description
LOT2 BLK 8, Marshall Reservation

Contract Info

MLS List Date
2021-03-11
Primary Structure List Price/SqFt
1203.7

General Property Info

Number of Units
3
# Stories
2
Ground Level
No
Primary Structure Apx SqFt
4320
Year Built
1991
Acreage
0.49
Lease Purchase
No
Potential Short Sale
No

Income Expenses Fees

Annual Expenses
50000
Net Income
150000

Status Change Info

Sold Date
2021-04-07
Sold Price/SqFt
1157.41
New Mortgage Type
Cash

Unit 1

SqFt
2798

More Information

Unit 2

SqFt
880

Unit 3

SqFt
880

Income, Expenses & Fees

Gross Income
200000
Auction
No

SqFt Source

Tax Records
Yes

Roof

Asphalt Shingle
Yes

Exterior

Wood Siding
Yes

Foundation

Piling
Yes

Zoning

Conforming
Yes

Garage/Parking

2 Car
Yes
Garage
Yes

Driveway

Concrete
Yes

Architectural Style

Triplex
Yes

New Owned/Pre-owned

Pre-Owned
Yes

Equipment/Appliances

Built-In Gas Oven
Yes
Ceiling Fan
Yes
Dishwasher
Yes
Dryer
Yes
Garage Door Opener
Yes
Gas Cooktop
Yes
Gas Range
Yes
Refrigerator
Yes
Washer
Yes

Cooling

Central Air
Yes

Heat

Electric
Yes

Amenities

Elevators
Yes
Trash
Yes

Sale Includes

All Furniture
Yes
Building and Land
Yes
Some Furniture
Yes

Proposed Financing

Any
Yes

Tenant Pays

Escalations Only
Yes
No Utilities
Yes

Possession

At Closing
Yes

Water/Sewer

Public Sewer
Yes
Public Water
Yes
Well
Yes

Utility Suppliers

Dominion Energy
Yes
SI W/S Comm
Yes

Property Features

SqFt Source: Tax Records Roof: Asphalt Shingle Exterior: Wood Siding Foundation: Piling Driveway: Concrete Architectural Style: Triplex Zoning: Conforming Cooling: Central Air Heat: Electric Amenities: Elevators; Trash Sale Includes: All Furniture; Building and Land; Some Furniture Tenant Pays: Escalations Only; No Utilities Proposed Financing: Any Possession: At Closing Utility Suppliers: Dominion Energy; SI W/S Comm
Listing Office: Reinay Holdings, LLC
IDX
Last Updated: April – 13 – 2023
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