201 Arctic Avenue, 114, Folly Beach, SC 29439

$1,450,000
Property Type: Residential Bedrooms: 3 Baths: 3 Square Footage: 1,305 Status: Active
Current Price: $1,450,000 List Date: 9/08/2022 Last Modified: 11/07/2022

Description

Is this the one you've been waiting for? Excellent opportunity to acquire a Charleston Oceanfront Villas condo with impressive vacation rental income. Located near the center of the building on the first floor, it has amazing views from the kitchen, dining, primary bedroom, and living room. Both the primary bedroom and the living room have sliding doors that leads to the exterior covered balcony. Tile flooring throughout. The community has 2 lavish oceanside pools. This property is currently on a vacation rental program and is being sold fully furnished. The rental income (about $110,000.00 gross rental bookings so far in 2022) is exceptional and projected to be even better in 2023. The community has covered and open parking as well as 2 elevators.

Supplements: Check out the massive, reinforced seawall running the full length of the building. The flood zone for this community is "A"! Very low flood insurance!!! Best oceanfront community: Building is concrete & steel construction, massive seawall with 100 concrete pilings between the building and the beach, 2 large pools, gated & fenced, and short distance to Folly Beach Center Street. A moratorium for short term rental (STR) licenses is in place on Folly Beach but buyers are able to get STR licenses for homes that have an existing STR license (like this condo). Ask your agent about the petition restricting STR licenses and learn why buying this home may be your best chance to buy a Folly Beach home that you can legally rent short term.

More Information MLS# 22023583

Contract Info

Sub-Type: Single Family Attached MLS List Date: 2022-09-08 Status: Active List Price: $1,450,000 Current Price: $1,450,000 List Price/SqFt: 1111.11

Location, Tax & Legal

Tax Map #: 3281400245 Street #: 201 Street Name: Arctic Street Suffix: Avenue Unit #: 114 County: Charleston State: SC Zip Code: 29439 Area: 22 - Folly Beach to Battery Island Tax District: 33 - City of Folly Beach Subdivision: Charleston Oceanfront Villas Elementary School: James Island Middle School: Camp Road High School: James Island Charter Legal Description: APT 114 PHASE II Directions: Center Street turn right on W Arctic. Charleston Oceanfront Villas is on the left - gated community - need a fob

General Property Info

Bedrooms: 3 Baths - Full: 3 Baths - Total: 3 Ground Level: No Stories: 1 Apx. SqFt: 1305 Ownership: Condominium Year Built: 1998 Potential Short Sale: No C/R: Yes Lease Purchase: No HOA Fee: Yes HOA Frequency: Monthly HOA $: 425 Auction: No

Tax/Fees

Special Assessment: Yes Taxes: 9748

Property Features

SqFt Source: Tax Records SF Attached Style: Condo Regime; Condominium; Flat Lot Description: Beachfront; Ocean View Misc Exterior: Balcony; Fence - Metal Enclosed; Sea Wall Exterior: Stucco Foundation: Elv. Construction Garage/Parking: Off-Street Parking Stories/Levels: 1 Story Misc Interior: Ceiling - Blown; Walk-In Closets; Window Treatments - All New Owned: Pre-Owned Rooms: Living/Dining Combo Master Bedroom: Ceiling Fan; Walk-In Closets Cooling: Central Air Floors: Ceramic Tile Equipment/Appliances: Ceiling Fan; Dishwasher; Dryer; Electric Range; Microwave; Washer Water/Sewer: Public Sewer; Public Water Heat: Electric; Heat Pump Possession: At Closing; Tenants Rights Utility Suppliers: Dominion Energy Amenities: Cable TV; Elevators; Gated; Pool Proposed Financing: Cash Assumable: No
Listing Office: Carolina One Real Estate Folly Beach
Last Updated: November - 07 - 2022
201 Arctic Avenue, 114, Folly Beach, SC 29439- MLS# 22023583
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Broker Attribution: 843-779-8660

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