Summerville, SC 29485
- 8Beds
- N/AFull Baths
- N/AHalf Baths
- 4,010SqFt
- 1984Year Built
- 0.32Acres
- MLS# 25015600
- Multi Family
- Active
- Approx Time on Market1 month, 27 days
- AreaSummerville/ladson/ravenel Dorchester
- CountyDorchester
- Subdivision Millbrook
Overview
Welcome to 107 Magwood Drive, a potentially well-positioned investment opportunity in one of Summerville's most convenient locations. This well-maintained quadplex features four thoughtfully designed 2-bedroom, 1.5-bathroom units, making it an ideal fit whether you're searching for your next home, a potential income-producing property, or a strategic addition to your portfolio. If you're exploring a house-hack strategy, this property allows you to move into one unit while renting the three remaining fully leased units. Current leases include: Unit A: $1,400/month Unit B: $1,500/month Unit C: $1,500/month Unit D: $1,250/month. Altogether, the quadplex brings in $5,650 per month in gross rental income, offering the potential for immediate cash flow.Owned and meticulously maintained by the same owner for 22 years, it has benefited from $300,000 in capital improvements. The result is a fully stabilized asset with minimal maintenance concerns and immediate cash flow potential. The tenant base is remarkably stable, with average tenancies ranging from 5 to 8 years, and several long-term residents staying 12, 16, even 17 years, clear evidence of a well-managed and desirable living environment.Located just 3.7 miles from Historic Downtown Summerville, 5.5 miles from I-26, and 6.5 miles from Nexton Square, the property offers unmatched access to local amenities, shops, restaurants, and major employers. Residents will enjoy living in the Dorchester-2 School District.Whether you're seeking a turnkey 1031 exchange opportunity or a comfortable place to live while renting the additional units, 107 Magwood Drive presents a compelling option in a high-growth Charleston submarket.The buyer agrees to cooperate with all documentation necessary to complete a 1031 exchange, if applicable. Proof of funds or a letter of credit (LOC) from a bank or mortgage lender is required prior to any showings or walkthroughs. *Rental availability and options are not guaranteed. Buyers interested in residential and other rental options must verify with any and all governing bodies.
Agriculture / Farm
Grazing Permits Forest Service: No
Grazing Permits Private: No
Grazing Permits Blm: No
Horse: No
Farm Credit Service Incl: No
Association Fees / Info
Bathroom Info
Building Info
Year Built: 1984
Business Info
Rent Control: No
Buyer Compensation
Exterior Features
Pool Private: No
Garage / Parking
Gar Pkg: Other
Garage: No
Attached Garage: No
Interior Features
Interior Features: Ceiling Fan(s)
Fireplace: No
Laundry Features: Washer Hookup
Lot Info
Lot Size: 0.32
Lot Size Units: Acres
Acres: 0.32
Lot Sqft: 13939.2
Irrigation Water Rights: No
Offer Compensation
Other
Mobile Home Remains: No
Property Info
Property Type: B
Stories: 2
New Construction: No
Roof: Asphalt
Property Subtype: No
Building Area Units: Square Feet
Entry Location: Ground Level
View: No
Home Warranty: No
Habitable Residence: No
Structure Type: Quadruplex
Room Info
Beds: 8
Sale / Lease Info
Lease Renewal Option: No
Lease Considered: No
Lease Assignable: No
Sqft Info
Sqft: 4010
Unit Info
Number of Units Total: 4
Unit Bedrooms: 2
Unit Bedrooms: 2
Unit Bedrooms: 2
Unit Bedrooms: 2
Utilities / Hvac
Water Source: Public
Heating: Yes
Heat: Central
Water Sewer: Public Sewer
Cooling: Central Air
Cooling: Yes
Waterfront / Water
Waterfront: No
Directions
Ladson Rd To Dorchester County. Turn Right Onto Circle Dr. Turn Right Onto Sc-165 N/bacons Bridge Rd. Turn Right Onto Heber Rd. Turn Right Onto Jedi Ln. Turn Right Onto Magwood Dr.Courtesy of listing office Matt O'Neill Real Estate