West Ashley Duplex-Style Income
1514 Balsam Street Charleston, SC 29407
New
1514 Balsam Street, Charleston, SC, 29407
$499,000
For Sale
$499,000
MULTI_FAMILY - Charleston, SC
Property Size1,664 SF
Lot Size0.21 Acres
Price / SF$299.88
Days on Market2
Property Features for 1514 Balsam Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Rooms
- Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1
- Standard status
- Active
- Size
- 1,664 SF
- Lot size
- 0.21 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1965
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Brick Veneer
- Roof type
- Asphalt
Listing Agency
The Boulevard Company
(843) 806-9830
Charleston, SC
Listed by
Greg Polak
(843) 806-9830
Added: Jul 16 Checked: Jul 17 at 10:06 am
MLS# 26020354
Listing URL
Copyright © 2026 CHS Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
For sale in West Ashley, this distinctive income-capable residence includes a main home and an additional portion accessed through a separate private entrance. The main residence features three bedrooms, one full bathroom, and a living area centered on a cozy fireplace. A separate section of the property is currently operating successfully as a short-term rental, providing an additional source of income.
The property is located near the West Ashley Bikeway and includes an oversized lot with space for future expansion. Tucked behind the main home is an additional structure already in place and underway, with water and electricity connected, supporting continued development.
The offering provides flexible living and rental configuration with an on-site short-term rental operation and an additional improvement currently in progress, subject to any necessary approvals.
The property is located near the West Ashley Bikeway and includes an oversized lot with space for future expansion. Tucked behind the main home is an additional structure already in place and underway, with water and electricity connected, supporting continued development.
The offering provides flexible living and rental configuration with an on-site short-term rental operation and an additional improvement currently in progress, subject to any necessary approvals.
Key Highlights
- Main home built in 1965 with brick veneer construction
- Central air conditioning and electric heating
- Public water and public sewer connections
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.9k | $19.80 |
| − Vacancy | −$1.8k | −$1.09 |
| EGI | $31.1k | $18.71 |
| − OpEx | −$9.3k | −$5.61 |
| NOI | $21.8k | $13.10 |
1,664 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$311.4K
$272.4K – $363.3K
NOI $21,795 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$288.5K
$252.5K – $336.6K
NOI $20,198 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$450.3K
$394.0K – $525.4K
NOI $31,521 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Short term rental property - Income-capable home on an oversized lot with a separate private entrance and an additional structure under construction.
Where is this short term rental property located?
The property is located at 1514 Balsam Street Charleston, SC.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Main home built in 1965 with brick veneer construction; Central air conditioning and electric heating; Public water and public sewer connections
