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902 Royal Tern LN Mount Pleasant, SC 29464
6,969 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,969 sqft
Price per Sqft $186
MLS Listing ID 31009306
Year Built 1976
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type Multi Family
Property Description
902 Royal Tern with a rare opportunity to acquire four town-home style units in South Mount Pleasant, one of Charleston's most desirable submarkets. All comprised of 2 bed 1.5 bath. Unit B is intentionally vacant for renovations. Can be leased within a week on average according to seller. All units are month-to-month for income growth potential, and current income is A ($2,100), B (Vacant), C ($2,000), D ($2000). At 1.299M, the asset reflects a 5% cap rate on in-place income, assuming $2250 a month rent for Unit B. Current rents are below market, with comparable two-bedroom units averaging $2,620, creating strong upside potential. Pro forma rents at market levels suggest annual income could exceed $125,760, yielding an 6.3% CAP.(Some Photos contain Ai Staging)
Location
State SC
County Charleston
Zoning Mt Pleasant - MF - Multi-Family Residential
Exterior
Parking Features Surface
Garage Spaces 8.0
Building
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash
Listing Terms Cash
Listed by MaryBeth Wichlei • Align'd Properties
NEARBY SCHOOL & BUSINESS
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