918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
918 Sea Gull Drive # D Unit: A-D
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$1,170,000

918 Sea Gull Drive # D Unit: A-D

10 Beds 4,368 Sq.Ft. 9,583.2 Sq.Ft.

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.

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Location

918 Sea Gull Drive # D Unit: A-D, Mount Pleasant, SC 29464

Status

Sold

Property Amenities

Interior
Total Bedrooms: 10
Area & Lot
Total area 4,368 Sq.Ft.
Lot Area 9,583.2 Sq.Ft.
Living area 4,368 Sq.Ft.
MLS® ID 25027072
Year Built 1976
High School Lucy Beckham
Middle School Moultrie
Elementary School James B Edwards
Type Multi-Family
Status Sold
Exterior
Stories 2
Air conditioning Central Air
Heat type Central
Sewer Public Sewer
Roof Asphalt
Utilities Dominion Energy, Mt P W/S Comm
Finance
Sales Price $1,170,000

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