264 Grove Street # 1-4
Charleston, SC, 29403 $ 2,649,000
Bedrooms12 Baths0.0 Sq 4,670 Monthly Estimate*
$ 17,606
for $2,649,000 with 12 bedrooms. This 4,670 square foot home was built in 1981 on a lot size of 0.09.
Fantastic opportunity to own a turn-key fully furnished income producing quadplex in one of the most desirable neighborhoods on the peninsula - Wagener Terrace. Originally built in 1960, 264 Grove Street underwent a full interior and exterior renovation in 2022. Each unit within the quadplex is currently operating as a 30-day furnished rental on AirBNB & VRBO, and the entire building will be sold fully stocked and furnished. Each unit consists of 2 king bedrooms, an office with closet and window which counts as a 3rd queen bedroom w/ window & closet, 1 full bathroom, large living room, dining, kitchen and laundry. There is also a private dog park and outdoor living space in the backyard, and off street + on street parking for guests to enjoy during their stay.IMPORTANT INFORMATION:IMPORTANT INFORMATION: Seller does not currently own property as their primary residence, therefore each unit is CURRENTLY operating as a 30-day furnished executive rental bringing in $3,500-$4,500 per unit per month. The property is currently taxed at 6%. If the BUYER were to purchase the building as their PRIMARY RESIDENCE (taxed at 4%) and owner- occupy 1 unit, they may apply for the B&B permit through the City of Charleston. What this means: The City should allow 1 of the 4 units to be a NIGHTLY AirBNB (maximum income potential) - but the other 2 units would have to remain 30-day or long-term rentals, however, 30-day rentals can also be marketed on Airbnb and Vrbo platforms for maximum exposure. The city requires enough maneuverable off-street parking on site which we have confirmed the property DOES HAVE. Please ask your representation for a copy of the proforma for 1 short-term nightly rental unit in the marketing package. The projected revenue (conservative) for the 1 short-term nightly rental unit for 2024 is $125,000, and your other 2 units should bring in $3,500-$4,500/mo based on the property's rental history thus far. In short, if BUYER chooses to purchase building as their PRIMARY RESIDENCE and owner occupy 1 of the 4 units, they will have the ability to short term rent ONE UNIT on a nightly basis, and 30-day rent TWO UNITS. The PROJECTED annual revenue for this scenario would be $287,000. PROPERTY FACTS: - $400,000+ renovation in 2022. All units are turn-key. - Roof replaced in 2014 - 4 Tankless water heaters installed within the last 3-5 years - All windows replaced within the last 5-8 years per previous owner - HVACs: Unit C is 6 years old, parts updated on other units - Plumbing and electrical has been updated - Property is located in X flood zone- no flood insurance required Wagener Terrace stands as a testament to Charleston's rich history and Southern hospitality. The combination of historic homes, community spirit, and convenient location makes it a desirable place to call home in the Holy City. Hampton Park is one of the City's largest and most popular parks just a stone's throw away from 264 Grove Street, as well as multiple restaurants, coffee shops, bars, and local businesses.
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FeaturesGeneralInterior Features Ceiling Fan(s)
Sewer Public Sewer
Heating Heat Pump
Cooling Central Air
Utilities Charleston Water Service Dominion Energy
Roof Architectural
Garage Spaces 0
Security Features Security System
Construction Materials Brick Brick Veneer
Year Built 1981
Stories 2
Unit Number 1-4
Community Features Dog Park
County Charleston
New Construction No
Property Type Residential Income
Subdivision Name Wagener Terrace
Garage Y/N No
Other Structures None
Status Pending
Directions Ake Rutledge Ave To Grove Street. 264 Grove Is Located In Between 9th And 8th Ave On The Right Hand Side.
High School Burke
City Charleston
NumberOfUnitsTotal 4
MLS Area 52 - Peninsula Charleston Outside of Crosstown
Lot Size Units Acres
Lot Size Square Feet 3920.399999
Street Name Grove
Elementary School James Simons
Middle/Junior High School Simmons Pinckney
Structure Type Quadruplex
Building Area Units Square Feet
Standard Status Pending
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ExteriorParking Features Other (Use Remarks)
Water Source Public
Lot Size Area 0.09
Foundation Details Slab
Building Area Total 4670
Lot Size Acres 0.09
Covered Spaces 0
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InteriorAir Conditioning Y/N Yes
Heating Y/N Yes
Street Suffix Street
Total Bedrooms 12
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* Excluded FeaturesList ByThe Boulevard Company, LlcBroker
Affordability Calculator
- Monthly Principal & Interest
- $17,606
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Charleston, SC
Average List Price $2,185,747
Percent of Sale Price 17%
About Charleston, SC 138,424 Population
35% Since 2002
$ 62,778 Median Income
36.13 Median Age
21% Households with Children
Trends Information provided by ATTOM Data Solutions.
4141421 Elementary School
1478873 Middle School
Burke High School High School
Pricing HistoryDate | Price | Price Change | Description |
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2/26/2024 | $2,649,000 | | Listed Price |