504 Ashley Folly Beach, SC 29439
- Residential income homes
- 2,994 SF
- 0.24 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 504 Ashley
- Year built
- 1980
- Lot size
- 0.24 lot acres
- Property size
- 2,994 SF
- Property type
- Residential income homes
Description
This exceptional Folly Beach duplex presents a lucrative investment opportunity. Boasting 2,994 square feet, this property features two fully renovated units, each with full kitchens and multiple bedrooms and bathrooms. Built in 1980 and extensively renovated in 2020, the property includes a new architectural shingle roof and sleek grey laminate flooring throughout. The charming cottage-style home sits on a 0.24-acre lot, offering ample outdoor space including a front porch, covered side porch with grilling area, a second-story sunroom, large deck, and a screened porch with hot tub. The property's interior features updated bathrooms with cast stone vanities and marble backsplashes, shiplap accent walls, and spacious living areas perfect for both short-term and long-term rentals. The outdoor area includes a sunny backyard with an outdoor shower, stone-paved patio, and a shaded lawn. Located just a block from the beach and close to Folly Beach County Park, Sunset Cay Marina, and the vibrant Center Street, this property offers unparalleled convenience and income potential. The strong financial performance is reflected in a 6.55% cap rate and a net operating income (NOI) of $90,000, making it an attractive addition to any investment portfolio. The asking price is $1,375,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Folly Beach
- County
- Charleston
- State
- South Carolina
- Longitude
- -79.9499
- Latitude
- 32.6514
