Viewing Listing MLS# 30523724 | 56 Ashe Street, Charleston SC
Charleston, SC 29403
- $311.03Price per SqFt
- 2,974SqFt
- 457Days on Market
- N/AZoning
- 1935Year Built
- Multi FamilyUse
- MLS# 30523724
- Commercial Sales
- Multi Family
- Sold
- Approx Time on MarketN/A
- AreaHistoric Charleston
- CountyCharleston
- SubdivisionN/A
Overview
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.
Sale Info
Listing Date: 01-30-2023
Sold Date: 02-14-2020
Listing Sold: 
4 Year(s), 2 month(s), 18 day(s) ago
Asking Price: $925,000
Selling Price: $925,000
Price Difference:
Same as list price
Building Info
Anchored: No
Year Built: 1935
Financial
Asking Price Type: Fixed Price
Garage / Parking
Parking Type: Surface
Lot Info
County: Charleston
Land Size: 0.00
Misc
Title: Downtown renovated duplex
Offer Compensation
Property Info
Second Property Subtype: Multi Family
Zoning: City of Charleston - DR-2F -
Nearest Msa: Charleston-North Charleston, SC
Sale Terms: Cash
Property Type: A
Original Price: $925,000
Build To Suit: No
Property Use Type: Investment, Multi-Family
Class Type: Multi Family
Sold Info
Sold Date: 2020-02-14T00:00:00
Sqft Info
Rentable Area: 2974
Unit Info
Utilities / Hvac
Water Source: Public
Sewer: Public Sewer
Courtesy of listing office AgentOwned Realty Preferred Group