504 AshleyFolly Beach, SC 29439

Property Details for 504 Ashley

Year built

1980

Lot size

0.24 AC

Property size (Sq ft)

2,994 SF

Property type

Investment properties

Property subtype

Multifamily properties

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.

Location Insight

City

Folly Beach

County

Charleston

State

South Carolina

Latitude

32.6514

Longitude

-79.9499

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