$2,800,000
Charleston, SC 29403
MLS# 20015529
Status: Closed
6025 sqft
1 / 49
Property Description
A great opportunity to step into an existing business with continual cash flow that has bookings into 2021. The 196 Rutledge Avenue Inn, circa 1910, has been operating since 2011. We invite you to review for yourself over 800-5 star reviews of our rental history. The main house was renovated down to the studs in 2008. All electric, plumbing, and HVAC were updated at that time. A ''cottage'' was built at 194 Rutledge Avenue in 2008, beside the main house. There is off-street parking for 8 cars. The main house boasts high ceiling with original molding and mahogany inlaid wood floors. Units A and B have spacious open-concepts, measuring over 1350 sq. ft with two large bedrooms and two and a half bathrooms. Units C & D are 800 sq.ft each and feature 1BR/1BA. Agent is part owner.
Details
Maps
Contract Info
Primary Structure List Price/SqFt: 481.33
MLS List Date: 2020-06-07
Status: Closed
List Price: $2,899,995
Current Price: $2,800,000
Location, Tax & Legal
Legal Description: 194 196 RUTLEDGE AND OLIVER CT
Tax Map #: 4601502063
Street #: 196
Street Name: Rutledge
Street Suffix: Avenue
County: Charleston
State: SC
Zip Code: 29403
Area: 51 - Peninsula Charleston Inside of Crosstown
Tax District: 71 - City of Charleston
Subdivision: Cannonborough-Elliotborough
Elementary School: Memminger
Middle School: Simmons Pinckney
High School: Burke
General Property Info
# Stories: 2
Ground Level: No
Lease Purchase: No
Potential Short Sale: No
Number of Units: 5
Primary Structure Apx SqFt: 6025
Year Built: 1910
Acreage: 0.2
Income, Expenses & Fees
Gross Income: 345500
Auction: No
Status Change Info
Sold Price/SqFt: 464.73
New Mortgage Type: Conventional
Sold Date: 2021-06-11
SqFt Source
Appraisal: 1
Tax Records: 1
Unit 1
SqFt: 1275
Bedrooms: 2
Baths: 2.5
Unit 2
SqFt: 1350
Bedrooms: 2
Baths: 2.5
Unit 3
SqFt: 885
Bedrooms: 1
Baths: 1
Unit 4
SqFt: 750
Bedrooms: 1
Baths: 1
Unit 5
SqFt: 1550
Bedrooms: 2
Baths: 2.5
Roof
Architectural: 1
Metal: 1
Exterior
Wood Siding: 1
See Remarks: 1
Foundation
Crawl Space: 1
Zoning
Conforming: 1
Garage/Parking
Other (Use Remarks): 1
Architectural Style
Quadplex: 1
Single Family Detached: 1
New Owned/Pre-owned
Pre-Owned: 1
Equipment/Appliances
Ceiling Fan: 1
Dishwasher: 1
Disposal: 1
Gas Range: 1
Microwave: 1
Refrigerator: 1
Stacked Washer/Dryer: 1
Cooling
Central Air: 1
Heat
Forced Air: 1
Heat Pump: 1
Amenities
Trash: 1
Sale Includes
All Furniture: 1
Other (Use Remarks): 1
Proposed Financing
Any: 1
Tenant Pays
No Utilities: 1
Possession
At Closing: 1
Special
Flood Insurance: 1
Water/Sewer
Public Sewer: 1
Public Water: 1
Utility Suppliers
Charleston Water Service: 1
Dominion Energy: 1
Income Expenses Fees
Annual Expenses: 122500
Net Income: 223000
Property Features
SqFt Source: Appraisal; Tax Records
Roof: Architectural; Metal
Exterior: Wood Siding; See Remarks
Foundation: Crawl Space
Architectural Style: Quadplex; Single Family Detached
Zoning: Conforming
Cooling: Central Air
Heat: Forced Air; Heat Pump
Amenities: Trash
Sale Includes: All Furniture; Other (Use Remarks)
Tenant Pays: No Utilities
Proposed Financing: Any
Possession: At Closing
Special: Flood Insurance
Utility Suppliers: Charleston Water Service; Dominion Energy
Supplements
The cottage is approximately 1550 sq.ft. It is a 2 story single unit that has 2BR/2.5BA. It has a private fenced front yard that a gorgeous grand magnolia tree that provides wonderful shade for your afternoon tea or cocktails. The cottage is setback from Rutledge Avenue which provide a quiet and private setting that can be unique to an urban setting.
Other features: Carrara marble countertops throughout cover custom cabinets in the kitchens and bathroom vanities. High-end stainless steel appliances featuring some built-in refrigerators, duel-fuel ranges with electric convection ovens, large under-mount sinks, and Bosch dishwashers. All units have washer and dryers.
Don't miss out on an excellent opportunity to own a piece of Historic Charleston.
Listing Office: Dana Properties, LLC
Last Updated: August - 09 - 2023
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