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Isle Of Palms, SC 29451,16 20th Avenue
Isle Of Palms, SC 29451,16 20th Avenue
Isle Of Palms, SC 29451,16 20th Avenue
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$1,850,000
Est. payment /mo
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4 Beds
3 Baths
1,829 SqFt
Contingent

16 20th Avenue Isle Of Palms, SC 29451

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BIG REALTY

BIG REALTY

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Key Details

Property Type Single Family Detached

Sub Type Ranch

Listing Status Contingent

Purchase Type For Sale

Square Footage 1,829 sqft

Price per Sqft $1,011

Subdivision Isle Of Palms

MLS Listing ID 23011258

Style Ranch

Bedrooms 4

Full Baths 3

Construction Status Pre-Owned

Year Built 1967

Lot Size 0.270 Acres

Acres 0.27

Property Sub-Type Ranch

Property Description

Incredible investment opportunity to own an income producing, renovated home near the beach on Isle of Palms with an in-ground pool! This property comes with a long-term lease generating $12k/month until March 14, 2024. The current tenant has two 1-year options to renew with annual increases upon renewal. Owner pays no management fees and the tenant covers all utilities, pool maintenance, landscape maintenance, cleaning, and common wear & tear expenses. Seller pays taxes, insurance, and only major repairs resulting in a cap rate of over 5.4%. At the end of the lease term, the possibility exists to short term rent the property if desired offering an opportunity to increase the cap rate even further! The interior of this home has been tastefully updated, showcasing a modern aesthetic andthoughtful design. The renovations have been skillfully executed, resulting in a space that is both functional and visually appealing. Each room is bathed in natural light, creating a bright and airy ambiance. As you explore the property, you'll discover several notable features that make this home truly exceptional. A new roof and HVAC system provide peace of mind, ensuring comfort and efficiency for years to come. The addition of the brand-new pool offers the perfect oasis for relaxation and entertainment, ideal for cooling off during those warm summer days. The large fenced yard provides privacy and ample space for outdoor activities or hosting gatherings. For added convenience, a 1-car garage is included, offering secure parking and additional storage options. Currently rented, this property presents an excellent opportunity for investors seeking a turnkey investment. Alternatively, for those looking to make Isle of Palms their permanent residence, this home offers the flexibility to continue renting until the lease is up, and then transition into a retirement haven or explore the possibility of short-term rentals. Don't miss out on this fantastic opportunity to own a renovated gem in one of South Carolina's most sought-after beach communities.

Location

State SC

County Charleston

Area 44 - Isle Of Palms

Rooms

Bedroom Description Ceiling Fan,Downstairs,Dual Masters,Outside Access

Other Rooms Eat-In-Kitchen, Great, Laundry

Master Description Ceiling Fan, Downstairs, Dual Masters, Outside Access

Master Bedroom Ceiling Fan, Downstairs, Dual Masters, Outside Access

Interior

Interior Features Ceilings - 9'+, Ceiling - Cathedral/Vaulted, Kitchen Island, Ceiling - Smooth, Window Treatments - Some

Heating Electric

Cooling Central Air

Exterior

Exterior Feature Brick - Veneer, Vinyl Siding

Parking Features Attached, Off-Street Parking, 1 Car Garage

Amenities Available Cable TV, Trash

Roof Type Asphalt Shingle

Building

Lot Description 0 - .5 Acre

Story 1 Story

Foundation Crawl Space

Sewer Other (Use Remarks), Public Water

Water Other (Use Remarks), Public Water

Level or Stories 1 Story

Construction Status Pre-Owned

Schools

Elementary Schools Sullivans Island

Middle Schools Moultrie

High Schools Wando

Others

Miscellaneous Fence - Metal Enclosed,Rain Gutters,Patio,Pool - In Ground

Special Listing Condition Flood Insurance

Listed by Keller Williams Realty Charleston West Ashley

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BIG REALTY

License ID: 20887

+1(843) 284-6747

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