About 918 Sea Gull Drive A-d
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.
Features of 918 Sea Gull Drive A-d
| MLS® # | 25027072 |
|---|---|
| Price | $1,199,000 |
| Bedrooms | 10 |
| Bathrooms | 0.00 |
| Square Footage | 4,368 |
| Acres | 0.22 |
| Year Built | 1976 |
| Type | Residential Income |
| Status | Active |
Community Information
| Address | 918 Sea Gull Drive A-d |
|---|---|
| Area | 42 - Mt Pleasant S of IOP Connector |
| Subdivision | Shemwood |
| City | Mount Pleasant |
| County | Charleston |
| State | SC |
| Zip Code | 29464 |
Amenities
| Utilities | Dominion Energy, Mt. P. W/S Comm |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Central |
|---|---|
| Cooling | Central Air |
| Fireplace | No |
| # of Stories | 2 |
Exterior
| Exterior | Brick |
|---|---|
| Roof | Asphalt |
| Foundation | Slab |
School Information
| Elementary | James B Edwards |
|---|---|
| Middle | Moultrie |
| High | Lucy Beckham |
Additional Information
| Days on Website | 19 |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Three Real Estate LLC |
|---|