Incredible investment opportunity to own an income producing, renovated home near the beach on Isle of Palms with an in-ground pool! This property comes with a long-term lease generating $12k/month until March 14, 2024. The current tenant has two 1-year options to renew with annual increases upon renewal. Owner pays no management fees and the tenant covers all utilities, pool maintenance, landscape maintenance, cleaning, and common wear & tear expenses. Seller pays taxes, insurance, and only major repairs resulting in a cap rate of over 5.4%. At the end of the lease term, the possibility exists to short term rent the property if desired offering an opportunity to increase the cap rate even further! The interior of this home has been tastefully updated, showcasing a modern aesthetic andthoughtful design. The renovations have been skillfully executed, resulting in a space that is both functional and visually appealing. Each room is bathed in natural light, creating a bright and airy ambiance. As you explore the property, you'll discover several notable features that make this home truly exceptional. A new roof and HVAC system provide peace of mind, ensuring comfort and efficiency for years to come. The addition of the brand-new pool offers the perfect oasis for relaxation and entertainment, ideal for cooling off during those warm summer days. The large fenced yard provides privacy and ample space for outdoor activities or hosting gatherings. For added convenience, a 1-car garage is included, offering secure parking and additional storage options. Currently rented, this property presents an excellent opportunity for investors seeking a turnkey investment. Alternatively, for those looking to make Isle of Palms their permanent residence, this home offers the flexibility to continue renting until the lease is up, and then transition into a retirement haven or explore the possibility of short-term rentals. Don't miss out on this fantastic opportunity to own a renovated gem in one of South Carolina's most sought-after beach communities.
Listing Date: 05-19-2023
Sold Date: 12-22-2023
Aprox Days on Market: 
7 month(s), 2 day(s)
Listing Sold: 
4 month(s), 9 day(s) ago
Original Asking Price: $1,895,000
Asking Price: $1,850,000
Selling Price: $1,830,000
Price Difference From Original:
Reduced By $65,000
Price Difference From Asking:
Reduced By $20,000
Grazing Permits Forest Service: Yes
Grazing Permits Private: Yes
Grazing Permits Blm: Yes
Horse: No
Farm Credit Service Incl: Yes
Community Features: Trash
Fullbaths: 3
Levels: One
Window Features: Window Treatments - Some
Year Built: 1967
Rent Control: No
Fencing: Fence - Metal Enclosed
Misc Ext: Patio
Pool Private: Yes
Pool Features: In Ground
Style: Ranch
Gar Pkg: 1 Car Garage, Attached, Off Street
Garage: Yes
Attached Garage: Yes
Interior Features: Ceiling - Cathedral/Vaulted, Ceiling - Smooth, High Ceilings, Kitchen Island, Ceiling Fan(s), Eat-in Kitchen, Great
Fireplace: No
Laundry Features: Laundry Room
Lot Size: 0.27
Lot Desc: 0 - .5 Acre
Lot Size Units: Acres
Acres: 0.27
Lot Sqft: 11761.2
Irrigation Water Rights: Yes
Mobile Home Remains: Yes
Property Type: A
Stories: 1
Foundation: Crawl Space
Exterior: Brick Veneer, Vinyl Siding
New Construction: No
Roof: Asphalt
Property Subtype: None
Building Area Units: Square Feet
Special: Flood Insurance
Entry Location: Ground Level
View: No
Home Warranty: Yes
Habitable Residence: Yes
Beds: 4
Primary Bedroom Features: Ceiling Fan(s), Dual Masters, Outside Access
Room Master Bedroom Level: Lower
Sold Date: 2023-12-22T00:00:00
Lease Renewal Option: Yes
Lease Considered: Yes
Lease Assignable: Yes
Sqft: 1829
Water Source: Public
Utilities: Dominion Energy, IOP W/S Comm
Heating: Yes
Heat: Electric
Cooling: Central Air
Cooling: Yes
Waterfront: No
Courtesy of listing office Keller Williams Realty Charleston West Ashley