Domicile MENU
MLS# 31003078 | Folly Beach Commercial Sales

$4,199,000 | N/A beds | N/A full baths | N/A half baths | 6,266 sqft

$4,199,000 No Recent Price Change
218 E Arctic Avenue
Folly Beach, SC 29439
  • $670.12Price per SqFt
  • 6,266SqFt
  • 37Days on Market
  • N/AZoning
  • 1950Year Built
  • Multi FamilyUse
  • MLS# 31003078
  • Commercial Sales
  • Multi Family
  • Active

  • Approx Time on Market1 month, 6 days
  • AreaFolly Beach
  • CountyCharleston
  • SubdivisionN/A

Overview

Incredible opportunity to own an 11 unit multi-family directly across the street from oceanfront Folly, two blocks from Center St. Folly pier. Block to block property with ample parking for all units. Up and down duplex fronting Arctic, with amazing 3rd. floor addition to 2nd. floor unit. Open loft addition includes kitchen and bath, with Interior and exterior staircase that allows for separate lockoff rental opportunity. Numerous decks and outdoor spaces on every floor, including a crows nest deck with fabulous view of the Atlantic. Separate Grandfathered status, legal non-conforming 9 unit, former motel building. Fronts on E. Ashley and contains a combination of five efficiencies and four 1 BR apartments. Currently 10 units on property are longterm rentals (30 days or more), on month-to-month leases. Two-story 2nd. and 3rd. floor combination unit is owner-occupied. Small office in motel building.Shed with shared washer/dryer and outdoor shower.Drone photos coming soon! Ground floor duplex has 2 BR, 1 bath. Second-floor duplex has 3 BR, 2 bath, 2 kit., for possible lock-off rental. Separate apt building has 5 studios, and 4, 1 BR, 1 bath units. All rents are vastly under current market for this location. Huge upside potential. All leases are month-to-month.


Building Info

Anchored:  No

Year Built:  1950

Financial

Garage / Parking

Parking Type:  Surface

Lot Info

County:  Charleston

Land Size:  0.24

Misc

Title:  Multi-family Folly Beach Investment Opportunity!

Offer Compensation

Property Info

Second Property Subtype:  Multi Family, Special Purpose

Zoning:  Charleston - R-4 - Low Densit

Nearest Msa:  Charleston-North Charleston, SC

Sale Terms:  Cash, Conventional

Property Type:  A

Original Price:  $4,199,000

Property Use Type:  Multi-Family, Residential

Class Type:  Multi Family

Sold Info

Sqft Info

Rentable Area:  6266

Unit Info

Utilities / Hvac

Water Source:  Public

Sewer:  Shared Septic

Directions

Take Folly Road to the end. Turn Left on Arctic Ave. House will be on the Left between 2nd. and 3rd. Street.

Courtesy of listing office Keller Williams Realty Charleston West Ashley 

Mortgage Calculator

%
$
%
Dollars per $1000
$
Approximate Monthly Payment 0.0
On domicilecharleston.com since Thu, Mar 21st 2024
No Property History recorded for this listing.
Residential, Land, Other Disclaimer:

Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Last updated on 04-27-2024 11:28 AM EST . The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright 2024 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2024 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 04-27-2024 11:28 AM EST est.

Any images related to data from the MLS is the sole property of the MLS and not the responsibility of the owner of this website.


This real estate website and IDX data is hosted by Dynamic IDX, LLC (843.637.2411)