902 Royal Tern Ln, Mount Pleasant, SC 29464
902 Royal Tern Ln, Mount Pleasant, SC 29464
902 Royal Tern Ln, Mount Pleasant, SC 29464
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Karla Leahy

Karla Leahy

+1(843) 452-6670
Listed by   Align'd Properties
$1,299,000
Est. payment /mo
8 Beds
6 Baths
4,310 SqFt
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UPDATED:

Key Details

Property Type Multi-Family, Townhouse

Sub Type Single Family Attached

Listing Status Active

Purchase Type For Sale

Square Footage 4,310 sqft

Price per Sqft $301

Subdivision Shemwood Ii

MLS Listing ID 26024359

Bedrooms 8

Full Baths 4

Half Baths 4

HOA Y/N No

Year Built 1976

Lot Size 6,969 Sqft

Acres 0.16

Property Sub-Type Single Family Attached

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

Area 42 - Mt Pleasant S Of Iop Connector

Interior

Interior Features Ceiling Fan(s)

Heating Electric

Cooling Central Air

Laundry Electric Dryer Hookup, Washer Hookup

Exterior

Utilities Available Dominion Energy, Mt. P. W/S Comm

Roof Type Architectural

Building

Lot Description Cul-De-Sac

Dwelling Type Quadruplex

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Stucco

New Construction No

Schools

Elementary Schools James B Edwards

Middle Schools Moultrie

High Schools Lucy Beckham

Others

Acceptable Financing Any, Cash, Conventional

Listing Terms Any, Cash, Conventional

Financing Any,Cash,Conventional

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Karla Leahy

Karla Leahy

Advisor License ID: 51661

+1(843) 452-6670

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902 Royal Tern Ln