264 Grove Street, Unit 14
264 Grove Street, Unit 14
Description
Seller does not currently own property as their primary residence, therefore each unit is CURRENTLY operating as a 30-day furnished executive rental bringing in $3,500-$4,500 per unit per month. The property is currently taxed at 6%. If the BUYER were to purchase the building as their PRIMARY RESIDENCE (taxed at 4%) and owner- occupy 1 unit, they may apply for the B&B permit through the City of Charleston. What this means: The City should allow 1 of the 4 units to be a NIGHTLY AirBNB (maximum income potential) - but the other 2 units would have to remain 30-day or long-term rentals, however, 30-day rentals can also be marketed on Airbnb and Vrbo platforms for maximum exposure. The city requires enough maneuverable off-street parking on site which we have confirmed the property DOES HAVE. Please ask your representation for a copy of the proforma for 1 short-term nightly rental unit in the marketing package. The projected revenue (conservative) for the 1 short-term nightly rental unit for 2024 is $125,000, and your other 2 units should bring in $3,500-$4,500/mo based on the property's rental history thus far. In short, if BUYER chooses to purchase building as their PRIMARY RESIDENCE and owner occupy 1 of the 4 units, they will have the ability to short term rent ONE UNIT on a nightly basis, and 30-day rent TWO UNITS. The PROJECTED annual revenue for this scenario would be $287,000. PROPERTY FACTS:
- $400,000+ renovation in 2022. All units are turn-key.
- Roof replaced in 2014
- 4 Tankless water heaters installed within the last 3-5 years
- All windows replaced within the last 5-8 years per previous owner
- HVACs: Unit C is 6 years old, parts updated on other units
- Plumbing and electrical has been updated
- Property is located in X flood zone- no flood insurance required
Wagener Terrace stands as a testament to Charleston's rich history and Southern hospitality. The combination of historic homes, community spirit, and convenient location makes it a desirable place to call home in the Holy City. Hampton Park is one of the City's largest and most popular parks just a stone's throw away from 264 Grove Street, as well as multiple restaurants, coffee shops, bars, and local businesses.
- Listed by The Boulevard Company, LLC
Property Details for 264 Grove Street, Unit 14
Location
Property Details for 264 Grove Street, Unit 14
| Status | Active |
|---|---|
| MLS # | 24004773 |
| Days on Market | 67 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1981 |
| Lot Size | 0.09 AC / 3,920 SF |
| County | Charleston County |
Location
Building Information for 264 Grove Street, Unit 14
Payment Calculator
$14,457 per month
30 year fixed, 7.25% Interest
$14,457
—
$0
Property Information for 264 Grove Street, Unit 14
- Latitude: 32.801732
- Longitude: -79.961604
- Directions: Ake Rutledge Ave To Grove Street. 264 Grove Is Located In Between 9th And 8th Ave On The Right Hand Side.
- Tax Map Number: 4600802024
- Elementary School: James Simons
- High School: Burke
- Middle Or Junior School: Simmons Pinckney
- Attached Garage YN: None
- Carport YN: None
- Covered Spaces: 0.0
- Garage Spaces: 0.0
- Garage YN: No
- Parking Features: Other (Use Remarks)
- Building Area Total: 4670.0
- Building Area Units: Square Feet
- Foundation Details: Slab
- Other Structures: None
- New Construction YN: No
- Structure Type: Quadruplex
- Photos Count: 54
- Photo Rights: I own the photos or have the right to use: Yes
- Utilities: Charleston Water Service, Dominion Energy
- Sewer: Public Sewer
- Water Source: Public
- Heating YN: Yes
- Cooling: Central Air
- Cooling YN: Yes
- Heating: Heat Pump
- Interior Features: Ceiling Fan(s)
- Stories: 2
- Security Features: Security System
- Community Features: Dog Park
- Construction Materials: Brick, Brick Veneer
- Roof: Architectural
- Number Of Units Total: 4
- Unit 1: SqFt: 1167
- Unit 1: Bedrooms: 3
- Unit 1: Baths: 1
- Unit 2: SqFt: 1167
- Unit 2: Bedrooms: 3
- Unit 2: Baths: 1
- Unit 3: SqFt: 1167
- Unit 3: Bedrooms: 3
- Unit 3: Baths: 1
- Unit 4: SqFt: 1167
- Unit 4: Bedrooms: 3
- Unit 4: Baths: 1
Property History for 264 Grove Street, Unit 14
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 264 Grove Street, Unit 14
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | PK to 8 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Mitchell Elementary School PublicPK to 5 | ||
James Simons Elementary School PublicPK to 8 | ||
Simmons Pinckney Middle School Public6 to 8 | ||
Burke High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of The Boulevard Company, LLC
We do not attempt to independently verify the currency, completeness, accuracy or authenticity of the data contained herein. It may be subject to transcription and transmission errors. Accordingly, the data is provided on an “as is” “as available” basis only and may not reflect all real estate activity in the market. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Based on information from one of the following Multiple Listing Services: Charleston Trident MLS and MLS of Hilton Head Island. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Canopy MLS,High Country Association of REALTORS,© 2024 REsides, Inc. All rights reserved. Certain information contained herein is derived from information which is the licensed property of, and copyrighted by, REsides, Inc. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
