Viewing Listing MLS# 21032914
Folly Beach, SC 29439
- 11Beds
- N/AFull Baths
- N/AHalf Baths
- 5,657SqFt
- 2019Year Built
- 0.24Acres
- MLS# 21032914
- Multi Family
- Sold
- Approx Time on Market3 months, 12 days
- AreaFolly Beach
- CountyCharleston
- SubdivisionFolly Beach
Overview
This Luxury Simplified custom designed commercial multi-family development was completed in 2019 and is A1/2 a block from Center Street. The 'Retreats on Hudson' commercial development includes three single family homes with each property having a private swimming pool. There are two, three-bedroom properties with over 1,500 ft^ living space, and one-five bedroom property with ~2,400 ft^ living space. This development was designed to provide the owners with the ability to maximize vacation rental income by utilizing a hybrid marketing approach. This development is rented as singles, a six-bedroom option, and a 10-11 bedroom compound and continues to satisfy the consumer demand for unique luxury multi-family vacation rental options in Charleston.Each single property has a private pool, but when rented as a multi-family the exterior garden space opens to the other, providing the ability to entertain easily between each unit. This luxury commercial development gross income currently exceeds $430K annually, and is on track to exceed this income in 2022. Call listing agent for additional financial information.
Sale Info
Listing Date: 12-22-2021
Sold Date: 04-04-2022
Aprox Days on Market: 
3 month(s), 12 day(s)
Listing Sold: 
2 Year(s), 22 day(s) ago
Original Asking Price: $4,750,000
Asking Price: $4,750,000
Selling Price: $3,375,000
Price Difference From Original:
Reduced By $1,375,000
Price Difference From Asking:
Reduced By $1,375,000
Agriculture / Farm
Grazing Permits Forest Service: Yes
Grazing Permits Private: Yes
Grazing Permits Blm: Yes
Horse: No
Farm Credit Service Incl: Yes
Association Fees / Info
Community Features: Pool
Bathroom Info
Building Info
Year Built: 2019
Business Info
Rent Control: No
Buyer Compensation
Exterior Features
Pool Private: No
Garage / Parking
Garage: No
Attached Garage: No
Interior Features
Interior Features: Ceiling Fan(s)
Fireplace: No
Lot Info
Lot Size: 0.24
Lot Size Units: Acres
Acres: 0.24
Lot Sqft: 10454.4
Irrigation Water Rights: Yes
Offer Compensation
Other
Mobile Home Remains: Yes
Property Info
Property Type: B
Stories: 2
New Construction: No
Building Area Units: Square Feet
View: No
Home Warranty: Yes
Habitable Residence: Yes
Structure Type: Single Family Detached, Triplex
Room Info
Beds: 11
Sale / Lease Info
Sold Date: 2022-04-04T00:00:00
Lease Renewal Option: Yes
Lease Considered: Yes
Lease Assignable: Yes
Sqft Info
Unit Sqft: 1,632
Unit Sqft: 1,632
Unit Sqft: 2,393
Sqft: 5657
Unit Info
Number of Units Total: 3
Unit: A, B, C
Unit Bedrooms: 3
Unit Bedrooms: 3
Unit Bedrooms: 5
Utilities / Hvac
Heating: Yes
Heat: Electric
Cooling: Central Air
Cooling: Yes
Waterfront / Water
Waterfront: No
Directions
From Folly Road Turn Left On E Erie. Property Will Be On Your LeftCourtesy of listing office Luxury Simplified Real Estate, INC