918 Sea Gull Dr - Multi-Family FOR SALE


Mount Pleasant, SC 29464- Mt Pleasant
$1,799,000 USD
843-460-8999
918 Sea Gull Dr, Mount Pleasant, SC for Sale
$1,799,000 USD
Multi-Family - FOR SALE
1/12
null | Request Cap Rate

918 Sea Gull Dr
Mount Pleasant, SC 29464
Mt Pleasant


OVERVIEW

918 Sea Gull Drive presents investors with a rare opportunity to acquire a stabilized fourplex 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 rate and positioning the property as both a cash-flowing investment and a long-term value-add opportunity in a high-barrier-to-entry submarket.

FOR SALE DETAILS

PRICE

$1,799,000 USD

PRICE/SF

$412 USD /SF

# OF UNITS

4

PRICE/UNIT

$449,750

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

532-04-00-170

ASK ABOUT THIS PROPERTY

Mary Beth WichleiThree Real EstateMore Info
843-460-8999

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Mary Beth WichleiThree Real EstateMore Info
843-460-8999

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.