918 Sea Gull Drive D A-D
Mount Pleasant, SC 29464
10 bd · 4,368 sqft · $268/sqft
Highlights
About This Home
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.
Property Details
Overview
- Directions
- Take Chuck Dawley Boulevard To Sea Gull Dr.
- Mlsareamajor
- 42 - Mt Pleasant S of IOP Connector
- Taxmapnumber
- 5320400170
- Structuretype
- Quadruplex
- Countyorparish
- Charleston
- Constructionmaterials
- Brick
Interior Features
- Cooling
- Central Air
- Heating
- Central
Exterior Features
- Roof
- Asphalt
- Otherstructures
- No
Lot And Land
- Lotsizearea
- 0.22
- Lotsizeacres
- 0.22
- Lotsizeunits
- Acres
Systems And Utilities
- Sewer
- Public Sewer
- Utilities
- Dominion Energy, Mt. P. W/S Comm
Financial Information
- Listingterms
- Cash, Conventional
Listed by Mary Beth Wichlei · Three Real Estate LLC
Location
- Address
- 918 Sea Gull Drive D A-D
- City
- Mount Pleasant, SC 29464
- Community
- Shemwood
- County
- Charleston
Schools
- Elementary
- James B Edwards
- Middle
- Moultrie
- High
- Lucy Beckham
School assignments may change. Contact the school district to confirm.
Information deemed reliable but not guaranteed. Provided for consumers’ personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.