About 902 Royal Tern Lane A B C D
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 intentionally vacant for renovations. Can be leased within a week on average according to seller. All units are month-to-month for income growth potential, and current income is A ($2,100), B (Vacant), C ($2,000), D ($2000). At 1.299M, the asset reflects a 5% 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.(Some Photos contain Ai Staging)
Features of 902 Royal Tern Lane A B C D
| MLS® # | 26024180 |
|---|---|
| Price | $1,299,000 |
| Bedrooms | 8 |
| Bathrooms | 0.00 |
| Square Footage | 4,310 |
| Acres | 0.16 |
| Year Built | 1976 |
| Type | Residential Income |
| Status | Active |
Community Information
| Address | 902 Royal Tern Lane A B C D |
|---|---|
| Area | 42 - Mt Pleasant S of IOP Connector |
| Subdivision | Shemwood II |
| City | Mount Pleasant |
| County | Charleston |
| State | SC |
| Zip Code | 29464 |
Amenities
| Utilities | Dominion Energy, Mt. P. W/S Comm |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior Features | Ceiling Fan(s) |
|---|---|
| Heating | Electric |
| Cooling | Central Air |
| Fireplace | No |
| # of Stories | 2 |
Exterior
| Exterior | Stucco |
|---|---|
| Roof | Architectural |
| Foundation | Slab |
School Information
| Elementary | James B Edwards |
|---|---|
| Middle | Moultrie |
| High | Lucy Beckham |
Additional Information
| Days on Website | 16 |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Align'd Properties |
|---|