56 Ashe Street, Charleston, 29403

Multi-Family For Sale

$925,000

Beds
Baths
2,974Sqft
.07Acres
1935Built
MLS® #: 19024426
Active

Like new, low maintenance up/down duplex fully leased thru 7/31/2020.***8 bedrooms, 4 baths, off-street parking***flood zone X (no insurance required, little to no landscaping to maintain***gutted to the studs in 2016 with new roof, new windows, 2 new HVAC systems, all new stainless steel kitchen appliances, including 2 refrigerators, plus 2 sets of new washer/dryers, plywood window covers pre-cut for hurricanes, 2 tankless water heaters, gravel drive & back yard for parking***tenants like granite counters, white shaker-style cabinetry, tile bath floors, bamboo flooring, mini-blinds, ample closets***close to MUSC/COC with desirable 8/1/20 move in date (both units rented quickly this year @$3025/mo/ea, so rents can likely be increased next year), insurance $3274, 2018 taxes $5711.You will not find a multi-family property in better condition with this many bedrooms and baths and off-street parking in a more desirable location for rentals for this price, especially with the potential to increase rents next year. Plus, flood insurance is not required in Zone X and there is little to no landscaping to maintain, so maintenance expenses are much less. Although not new construction, much of the siding was replaced in 2016 and the roof and HVAC were also new in 2016. The electrical and plumbing were new in 2016, including wiring and pipes, all light fixtures, plumbing fixtures, etc. There are 2 electric meters and 2 water meters. Tenants pay all utilities. Tenants not only pay higher rent ($6050/month) for updated finishes and ample closets, but they appreciate the utility savings that come with tankless water heaters, high efficiency HVAC and wall insulation, all rare downtown! 2018 property taxes were $5711.33 (subject to change). Current insurance (Allstate) is $3274. Flood insurance in Zone X is not required, although carried by current owner ($707). Current management company charges 10% of gross rent, but new owner is not bound to assume management contract. Current owner employs landscaping company, but there is not much to be done as there is little to no landscaping.

Essential Information

MLS® #: 19024426
Price: $925,000
$/SqFt: $311
Square Footage: 2,974
Acres: 0.07
Year Built: 1935
Type: Multi-Family
Style: Duplex
Status: Active

Interior

# of Stories: 2

Exterior

Exterior: Wood Siding

Community Amenities

Amenities: Cable Avail, Trash Pickup

Community Information

Address: 56 Ashe Street
Area: 51 - Peninsula Charleston Inside of Crosstown
City: Charleston
County: Charleston
State: SC
Zip Code: 29403

School Information

Elementary: Memminger
Middle: Courtenay
High: Burke

Additional Information

Listing Office: AgentOwned Preferred Group In

Scott Campbell

Your contact at Prestige Real Estate

I am delighted to answer any questions you may have.

Please provide a valid email address.
Prestige Real Estate Group
Prestige Real Estate Group LLC
1156 Bowman Road, Suite 200
Mt. Pleasant, SC 29464
1 (843) 259-9913

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