11 Hanover Street Unit A,B | Charleston | $1,999,999
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11 Hanover Street Unit A,B
Charleston, SC 29403
$1,999,999
7
BEDS
7
BATHS
3,462
SQ. FT.
11 Hanover Street Unit A,BCharleston, SC 29403
For SALE
Single Family
ACTIVE
$1,999,999
EST. 5,034.47/MO CALCULATE
7
BEDS
7
BATHS
3,462
SQ. FT.
Property Description
BRING ALL OFFERS! X Flood Zone - No Flood Insurance Required! A rare opportunity to own two charming 2021 construction homes in pristine condition on one lot just blocks from King Street in the heart of downtown Charleston. 11 Hanover Street offers incredible flexibility for a College of Charleston parent, owner-occupant, or investor. Both buildings have been rented since June 1, 2022, with tenants currently in place through May 31, 2027 (Building A) and April 30, 2027 (Building B). Current ownership has never increased rents, which have remained at $1,500 per bedroom since 2022, generating $10,500 per month in rental income. With current market rents ranging from approximately $1,850-$2,100 per bedroom, a new owner has significant upside potential to increaseincome at lease expiration. Tenants are responsible for all utilities with the exception of Wi-Fi.The property is eligible for the STR CAT 2 Bed & Breakfast permit, allowing an owner to occupy one of the two buildings at the 4% owner-occupied tax rate while legally operating the other as a nightly short-term rental at the 6% tax rate. Projected gross revenue for owner-occupying Building B and short-term renting Building A is approximately $133,000 annually.The front home (A) features 4 bedrooms, 4 full bathrooms, and 2,084 square feet, while the rear home (B) offers 3 bedrooms, 3 full bathrooms, and 1,378 square feet. Both homes were completed in 2021 and have been meticulously maintained since construction. Properties have recently been landscaped and interiors painted. Additional highlights include metal roofs, tankless water heaters for endless hot water, raised slab foundations (no crawlspace maintenance or moisture concerns), a transferable termite bond through Elam's, PLENTY off-street parking, and the ability to apply for additional residential parking decals through the City of Charleston.Offering an unbeatable downtown location, rare X Flood Zone designation, modern construction, multiple investment strategies, and substantial income potential, 11 Hanover Street is truly a one-of-a-kind opportunity in downtown Charleston.
Property Details
- MLS ID26021152
- Property TypeResidential - Single Family
- Building Area Total3462
- Community FeaturesTrash
- CoolingCentral Air
- Days on Site1
- ExteriorCement Siding
- FencingPartial
- FlooringCeramic Tile, Luxury Vinyl
- HeatingCentral, Heat Pump
- HeatingY/N1
- Home StyleCharleston Single
- Interior FeaturesCeiling - Cathedral/Vaulted, Ceiling - Smooth, High Ceilings, Garden Tub/Shower, Kitchen Island, Walk-In Closet(s), Ceiling Fan(s), Eat-in Kitchen, Family, Living/Dining Combo, Pantry
- LaundryLaundry Room
- Lot Dimensions0.13 acre(s)
- Lot Features0 - .5 Acre
- Lot Size0.13 Acres
- Other StructuresNo
- Parking FeaturesOff Street
- Patio And PorchDeck
- Roof TypeMetal
- Security FeaturesSecurity System
- SewerPublic Sewer
- Stories3.0
- UtilitiesCharleston Water Service, Dominion Energy
- WaterPublic
- Window FeaturesThermal Windows/Doors
- Year Built2021
- acres0.13
Amenities
- Ceiling - Cathedral/Vaulted
- Ceiling - Smooth
- High Ceilings
- Garden Tub/Shower
- Kitchen Island
- Walk-In Closet(s)
- Ceiling Fan(s)
- Eat-in Kitchen
- Family
- Living/Dining Combo
- Pantry
Listed By / Shown By
Listed By
Agency Name: The Boulevard Company
Charleston Trident MLS
Shown By
Agency Title: Carolina One Real Estate
Agency Phone: (843) 203-5016
Charleston Trident MLS
Web address QR Codes
11 Hanover Street Unit A,B
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