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Mount Pleasant, SC 29464,918 Sea Gull Dr #A-D
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Mount Pleasant, SC 29464,918 Sea Gull Dr #A-D
Mount Pleasant, SC 29464,918 Sea Gull Dr #A-D
Mount Pleasant, SC 29464,918 Sea Gull Dr #A-D
Mount Pleasant, SC 29464,918 Sea Gull Dr #A-D
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Coastal Carolina Group

Coastal Carolina Group

Innovate Real Estate-Coastal Carolina Group

Listed by   Three Real Estate LLC
$ 1,199,000
Est. payment /mo
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Active Under Contract

918 Sea Gull Dr #A-D Mount Pleasant, SC 29464

10 Beds

4,368 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 4,368 sqft

Price per Sqft $274

Subdivision Shemwood

MLS Listing ID 25027072

Bedrooms 10

HOA Y/N No

Year Built 1976

Lot Size 9,583 Sqft

Acres 0.22

Property Sub-Type Quadruplex

Property Description

918 Sea Gull Drive presents investors with a rare opportunity to acquire a stabilized Quadplex in South Mount Pleasant, one of Charleston's most desirable submarkets. Comprised of two 3-bedroom / 1.5-bath units and two 2-bedroom / 1-bath units, collectively generating $8,000 per month ($96,000 annually) in current income. At 1.2m, the asset reflects a 6.3% cap rate on in-place income, assuming a 35% expense ratio. All tenants are on month-to-month leases, providing immediate flexibility for rental growth. Current rents are below market, with comparable two-bedroom units averaging $2,620 and three-bedroom units averaging $2,980, creating strong upside potential. Pro forma rents at market levels suggest annual income could exceed $136,800, yielding an 8.3% cap.

Location

State SC

County Charleston

Area 42 - Mt Pleasant S Of Iop Connector

Interior

Heating Central

Cooling Central Air

Exterior

Utilities Available Dominion Energy, Mt. P. W/S Comm

Roof Type Asphalt

Building

Dwelling Type Quadruplex

Story 2

Foundation Slab

Sewer Public Sewer

Structure Type Brick

New Construction No

Schools

Elementary Schools James B Edwards

Middle Schools Moultrie

High Schools Lucy Beckham

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Coastal Carolina Group

Coastal Carolina Group

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