150 Spring St, Unit A&B And C Vacant Lot, Charleston, SC 29403 (MLS# 31003810)

150 Spring St, Unit A&B And C Vacant Lot, Charleston, SC 29403

$4,099,000

Property Type: Commercial Sale Square Footage: 4,469 Status: Active Contingent

Current Price: $4,099,000 List Date: 7/12/2024 Last Modified: 5/23/2025

Overview

Description

Premier Investment Opportunity in the heart of Charleston's legal STR/Short term accommodations overlay district. This meticulously renovated, multifamily property not only promises current substantial income return on your investment through Short-Term Rental (STR) but also offers the added potential of a vacant lot with entitlements for further development. This traditional yet modern two-story building where each of the two units offers luxury accommodations and stabilized income. The kitchens have professional-grade stainless steel appliances, striking gold finishes, custom white shaker cabinets, quartz countertops complemented by luxury hand-molded backsplashes. Each unit features walk-in tiled showers with frameless glass doors, and restored hard wood floors all carefully designed to amplify the property's inherent Charleston Southern Charm. Opportunities extend beyond the existing structures. Included in your purchase is a vacant rear lot with full entitlements to construct a d ... (Read more)

Listing Details MLS# 31003810

Location

Street Number: 150
Street Name: Spring St
Unit Number: Unit A&B And C Vacant Lot
County: Charleston
Nearest MSA: Charleston-North Charleston, SC
Submarket/Township: 51 - Peninsula Charleston Inside of Crosstown
State or Province: SC
Postal Code: 29403
Parcel Number: 4601102080
Opportunity Zone: No

General Information

Property Sub Type: Multi Family
Secondary Sub-Type: Hospitality
Tertiary Sub-Type: Special Purpose
Listing Name: Multifamily Investment Opportunity- STR and Vacant Lot Development
Property Condition: Existing
Number of Units Total: 2
Building Area Total: 4469
Typical SqFt Per Floor: 2265
Smallest Parcel Available: 1718
Zoning: City of Charleston - LB - Limited Business
Property Visibility: Excellent
List Price/Acre: 25625000
List Price/SqFt: 917.21
For Comp Purposes Only: No
Opt In to Crexi?: Yes

Contract Information

Listing Contract Date: 2024-07-11
Original List Price: 4100000
Tax Legal Description: 150 Spring St

Building Related

General Condition: Excellent
Stories Total: 2
Year Built: 1872
Year Renovated: 2021
Parking Total: 4
Number Of Buildings: Yes

Land Related

Frontage Length: 43'
Lot Depth: 173'
In Flood Plain?: No

Status Change Info

Status Change Date: 2024-08-30
Under Contract Date: 2024-08-30
Contingent: Active Contingent

More Information

Auction Details

Auction: No

Area and Location

Airports: Charleston International Airport
Highway Access: 26 and 526
Property Located Between: Near King Street

Directions & Remarks

Directions: From the corner of King Street and Spring St, drive on Spring St towards Rutledge, property is on the right hand side.
Public Remarks: Premier Investment Opportunity in the heart of Charleston's legal STR/Short term accommodations overlay district. This meticulously renovated, multifamily property not only promises current substantial income return on your investment through Short-Term Rental (STR) but also offers the added potential of a vacant lot with entitlements for further development. This traditional yet modern two-story building where each of the two units offers luxury accommodations and stabilized income. The kitchens have professional-grade stainless steel appliances, striking gold finishes, custom white shaker cabinets, quartz countertops complemented by luxury hand-molded backsplashes. Each unit features walk-in tiled showers with frameless glass doors, and restored hard wood floors all carefully designed to amplify the property's inherent Charleston Southern Charm. Opportunities extend beyond the existing structures. Included in your purchase is a vacant rear lot with full entitlements to construct a detached two-story building. This expansion could encompass approximately 2,000 plus sq. ft., featuring four additional STR-approved bedrooms, each with its own en-suite bathroom. Complete architectural plans along with structural, civil, utility, sprinkler, stormwater plans and engineering plans will convey upon closing. Front units have commercial-grade fire alarm and R-13 sprinkler system. Whether you are drawn to the charm and history of Charleston or the allure of a lucrative STR venture, this property offers both immediate returns and significant growth potential. Income and expense sheet available upon request.

Property Sub Type

Hospitality: Yes
Multi Family: Yes
Special Purpose: Yes

Roof

Metal: Yes

Current Use

Multi-Family: Yes
Residential: Yes

Structure Type

Free Standing: Yes
Multi Family: Yes

Association Amenities

Parking: Yes

Construction Materials

Wood Siding: Yes

Parking Type

Surface: Yes

Heating

Central: Yes
Varies by Unit: Yes

Cooling

Central Air: Yes
Varies by Unit: Yes

Lot Features

Level: Yes

Road Frontage Type

City Street: Yes

Road Surface Type

Paved: Yes

Water Source

Public: Yes

Sewer

Public Sewer: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Property Features

Property Sub Type: Hospitality; Multi Family; Special Purpose Current Use: Multi-Family; Residential Structure Type: Free Standing; Multi Family Association Amenities: Parking Roof: Metal Construction Materials: Wood Siding Parking Type: Surface Heating: Central; Varies by Unit Cooling: Central Air; Varies by Unit Lot Features: Level Road Frontage Type: City Street Road Surface Type: Paved Water Source: Public Sewer: Public Sewer Listing Terms: Cash; Conventional

Documents

Updated Survey ›

Utility Survey ›

Brochure ›

Listing Office: Coldwell Banker Comm/Atlantic

Last Updated: May - 23 - 2025

Broker Attribution: 8437449877

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