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4975, 93, 53 Lake Palmetto LN North Charleston, SC 29418
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Key Details
Property Type Commercial
Sub Type Hospitality
Listing Status Active
Purchase Type For Sale
MLS Listing ID 31003931
Year Built 2005
Property Sub-Type Hospitality
Property Description
Three active short term rentals sold fully furnished generating over 300,000 per year in income. All future bookings will transfer upon sale complete pass through investment at a high rate of return. Agents and buyers search through loopnet, crexi, mls, or any other real estate platform and try to find a pass through cap rate at 8.5%. The rentals have many five star reviews with streamlined management already in place. All three rentals are unique booking experiences since they are lake front (these units consistently rent higher than well known park circle rentals) and can accommodate a large family due to each townhome being over 2200 sq ft. Since the properties are fee simple and built after 2004 maintenance is minimal without worry of an overbearing HOA or large assessments. The neighborhood is a short drive to bustling Park Circle's restaurants and shops, near the North Area brewery district and up and coming Navy Yard, and is just a few minutes from the Paradiso at Mixson, a family friendly club with a large, heated saltwater pool, cabana rentals, co-working spaces, a restaurant, and regular social events. Lake Palmetto is also moments to Charleston International Airport for quick weekend getaways or incoming guests.
Location
State SC
County Charleston
Zoning City of North Charleston - CRD - Commercial Redevelopment District
Exterior
Parking Features Surface
Garage Spaces 6.0
Building
Water Public
Listed by Christopher Mitchell • Tift Properties
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