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902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
902 Royal Tern Lane # D Unit: A B C D
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$1,299,000

902 Royal Tern Lane # D Unit: A B C D

8 Beds 4,310 Sq.Ft. 6,969.6 Sq.Ft.

Description

902 Royal Tern with a rare opportunity to acquire four town-home style units in South Mount Pleasant, one of Charleston's most desirable submarkets. All comprised of 2 bed 1.5 bath. Unit B is intentionally vacant for renovations. Can be leased within a week on average according to seller. All other units are Leased through March 31st 2027, and current income is A ($2,200), B (Vacant), C ($1,900), D ($1950). At 1.299M, the asset reflects a 5% cap rate on in-place income, assuming $2250 a month rent for Unit B. Current rents are below market, with comparable two-bedroom units averaging $2,620, creating strong upside potential. Pro forma rents at market levels suggest annual income could exceed $125,760, yielding an 6.3% CAP.(Some Photos contain Ai Staging)

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Location

902 Royal Tern Lane # D Unit: A B C D, Mount Pleasant, SC 29464

Status

Active Under Contract

Property Amenities

Interior
Laundry room Washer Hookup, Electric Dryer Hookup
Total Bedrooms: 8
Other Interior Features Ceiling Fan(s)
Area & Lot
Total area 4,310 Sq.Ft.
Lot Area 6,969.6 Sq.Ft.
Living area 4,310 Sq.Ft.
MLS® ID 26024180
Year Built 1976
High School Lucy Beckham
Middle School Moultrie
Elementary School James B Edwards
Type Multi-Family
Status Active Under Contract
Exterior
Stories 2
Air conditioning Central Air
Heat type Electric
Water Source Public
Sewer Public Sewer
Roof Architectural
Utilities Mt P W/S Comm, Dominion Energy
Finance
Sales Price $1,299,000
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Schedule a Showing

We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.
Thank you for your interest in 902 Royal Tern Lane # D Unit: A B C D, Mount Pleasant, SC 29464. We are reviewing your request and will be in touch shortly!

Mount Pleasant

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