53 Drake Street

Property Description

***Ask about the possibility of receiving 1% reduction in interest rate and free refi.*** Introducing an exceptional potential investment opportunity in the heart of downtown Charleston, this multi-family residence presents a great prospect for savvy investors. Comprising four well-maintained 2-bedroom, 1-bathroom units, this property is currently fully leased through July 2024. Imagine the potential...you can live in one unit while renting the additional units!Three of the units, each fetching an impressive $2,030 per month, provide a solid foundation for the current annual gross income of $95,000. The remaining unit commands a rental rate of $1,830 per month.This property boasts recent renovations including a new roof, updated siding, and a fresh exterior paint job completed in 2023, underscoring its commitment to maintaining its condition. Strategically positioned a mere block away from East Bay Street and within half a mile of the Arthur Ravenel Jr Bridge, residents enjoy easy access to Charleston's vibrant cityscape and the area's rich cultural attractions. Within the immediate vicinity (within 1 mile) lie Marion Square, The College of Charleston, and a diverse array of shopping and dining establishments, making this location highly desirable for tenants seeking the quintessential Charleston experience. Investors will undoubtedly appreciate the exceptional potential of this property. Don't miss this opportunity to secure a well-maintained asset in one of Charleston's most sought-after locations. Schedule a showing today to unlock the full potential of this remarkable investment gem! *Buyer/buyer's agent responsible for gathering all information for city, county, and any and all governing bodies regarding rental possibilities for the property.