Viewing Listing MLS# 22018066
Folly Beach, SC 29439
- 16Beds
- N/AFull Baths
- N/AHalf Baths
- 6,400SqFt
- 2018Year Built
- 0.12Acres
- MLS# 22018066
- Multi Family
- Sold
- Approx Time on Market3 months, 7 days
- AreaFolly Beach
- CountyCharleston
- SubdivisionFolly Beach
Overview
This multi-family, custom-designed development was completed in 2018 and is located 1/2 block off Center Street. This asset is strategically located in the commercial district of Folly Beach and zoned 'general business'. It includes four four-bedroom properties, each offering a private pool and over 1,600 ft^ of luxury living space. This multi-family investment has been uniquely designed to maximize vacation rental income by utilizing a hybrid rental approach, e.g., singles, duplex, triplex, or quadplex, and is on track to exceed record income generated in 2021 with over $636,000 in projected booking revenue for 2022. Call listing agent for additional financial information. NOTE: Sale includes 105 E Erie Tax ID - 3281400477
Sale Info
Listing Date: 07-06-2022
Sold Date: 10-14-2022
Aprox Days on Market: 
3 month(s), 7 day(s)
Listing Sold: 
1 Year(s), 6 month(s), 5 day(s) ago
Original Asking Price: $5,875,000
Asking Price: $5,689,000
Selling Price: $5,100,000
Price Difference From Original:
Reduced By $775,000
Price Difference From Asking:
Reduced By $589,000
Agriculture / Farm
Grazing Permits Forest Service: Yes
Grazing Permits Private: Yes
Grazing Permits Blm: Yes
Horse: No
Farm Credit Service Incl: Yes
Association Fees / Info
Community Features: Pool
Bathroom Info
Building Info
Year Built: 2018
Business Info
Rent Control: No
Buyer Compensation
Exterior Features
Pool Private: No
Garage / Parking
Garage: No
Attached Garage: No
Interior Features
Interior Features: Ceiling Fan(s)
Fireplace: No
Lot Info
Lot Size: 0.12
Lot Size Units: Acres
Acres: 0.12
Lot Sqft: 5227.2
Irrigation Water Rights: Yes
Offer Compensation
Other
Mobile Home Remains: Yes
Property Info
Property Type: B
Stories: 2
New Construction: No
Roof: Asphalt
Building Area Units: Square Feet
View: No
Home Warranty: Yes
Habitable Residence: Yes
Structure Type: Quadruplex
Room Info
Beds: 16
Sale / Lease Info
Sold Date: 2022-10-14T00:00:00
Lease Renewal Option: Yes
Lease Considered: Yes
Lease Assignable: Yes
Sqft Info
Unit Sqft: 1,600
Unit Sqft: 1,600
Unit Sqft: 1,600
Unit Sqft: 1,600
Sqft: 6400
Unit Info
Number of Units Total: 4
Unit: A, B, C, D
Unit Bedrooms: 4
Unit Bedrooms: 4
Unit Bedrooms: 4
Unit Bedrooms: 4
Utilities / Hvac
Water Source: Public
Utilities: Charleston Water Service, Dominion Energy
Heating: Yes
Heat: Electric
Water Sewer: Public Sewer
Cooling: Central Air
Cooling: Yes
Waterfront / Water
Waterfront: No
Directions
From Folly Road, Take A Left On E Cooper. Property Will Be On Your Left.Courtesy of listing office Luxury Simplified Real Estate, INC