774 Rutledge Ave Charleston, SC 29403
- Residential income homes
- 3,983 SF
- 0.21 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 774 Rutledge Ave
- Year built
- 1927
- Lot size
- 0.21 lot acres
- Property size
- 3,983 SF
- Property type
- Residential income homes
- Property subtype
- Dormitories
Description
This exceptional Charleston, South Carolina investment opportunity presents a fully entitled four-unit multifamily property situated on a 0.21-acre lot. The property includes a charming, renovated 1,200 sq ft, 2-bedroom, 1-bathroom cottage currently rented month-to-month, boasting high-end finishes. Plans are in place for the construction of three additional 917 sq ft units, each featuring two bedrooms and two bathrooms—ideally suited for medical professionals, students, or travelers. With a total of 3,983 square feet, the property offers eight bedrooms and four bathrooms across four buildings, providing ample space and potential rental income. The property's prime location offers convenient access to the hospital district, local restaurants, cafes, dog parks, and recreational areas. Permits are ready for immediate commencement of construction on the three additional units. The property is zoned residential and offers two parking spaces per unit. Built in 1927 (first building), with renovations completed in 2021, this value-add investment is priced at $1,200,000, or $300,000 per unit, representing a compelling price per square foot of $301.28. This fee-simple ownership opportunity is perfect for investors seeking a strong return in a desirable Charleston location.
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
- Charleston
- County
- Charleston
- State
- South Carolina
- Longitude
- -79.953948444215
- Latitude
- 32.804830841957
