902 Royal Tern Lane Unit A B C D | Mount Pleasant | $1,299,000

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902 Royal Tern Lane Unit A B C D Mount Pleasant, SC 29464 $1,299,000

4,310 SQ. FT.

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902 Royal Tern Lane Unit A B C DMount Pleasant, SC 29464

For SALE Business ACTIVE

$1,299,000

EST. 3,269.89/MO CALCULATE

4,310 SQ. FT.

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 vacant for showings. All units are month-to-month for income growth potential, and current income is A ($2,200), B (Vacant), C ($1,950), D ($2200). At 1.299M, the asset reflects a 5.2% 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.

Property Details

MLS ID31009306
Property TypeCommercial - Business
Current UseMulti-Family
Lot Size0.16 Acres
Parcel Number532-04-00-157
Parking Total8.00
SewerPublic Sewer
WaterPublic
Year Built1976
ZoningMt Pleasant - MF - Multi-Family Residential
acres0.16

Listed By / Shown By

Listed By

Agency Name: Align'd Properties

SCCMLS

Shown By

Agency Title: Carolina One Real Estate
Agency Phone: (843) 203-5016

SCCMLS

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Location 902 Royal Tern Lane

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