902 Royal Tern Lane, A B C D, Mount Pleasant, SC 29464 (MLS# 31009306)

902 Royal Tern Lane, A B C D, Mount Pleasant, SC 29464

New Listing

$1,299,000

Property Type: Commercial Sale Square Footage: 4,310 Status: Active

Current Price: $1,299,000 List Date: 8/26/2026 Last Modified: 8/26/2026

Overview

Description

902 Royal Tern with a rare opportunity to acquire four town-home style units in South Mount Pleasant, one of Charleston's most desirable submarkets. All comprised of 2 bed 1.5 bath. Unit B is vacant for showings. All units are month-to-month for income growth potential, and current income is A ($2,200), B (Vacant), C ($1,950), D ($2200). At 1.299M, the asset reflects a 5.2% cap rate on in-place income, assuming $2250 a month rent for Unit B. Current rents are below market, with comparable two-bedroom units averaging $2,620, creating strong upside potential. Pro forma rents at market levels suggest annual income could exceed $125,760, yielding an 6.3% CAP.

Listing Details MLS# 31009306

Location

Street Number: 902
Street Name: Royal Tern
Street Suffix: Lane
Unit Number: A B C D
County: Charleston
Nearest MSA: Charleston-North Charleston, SC
Submarket/Township: 42 - Mt Pleasant S of IOP Connector
State or Province: SC
Postal Code: 29464
Parcel Number: 532-04-00-157
Opportunity Zone: No

General Information

Property Sub Type: Multi Family
Secondary Sub-Type: Multi Family
Listing Name: 4 Townhome Style Units -S Mount Pleasant
Property Condition: Existing
Number of Units Total: 4
Building Area Total: 4310
Lot Acres: 0.16
Zoning: Mt Pleasant - MF - Multi-Family Residential
List Price/Acre: 8118750
List Price/SqFt: 301.39
Opt In to Crexi?: No

Contract Information

Listing Contract Date: 2026-08-12
Original List Price: 1299000
Tax Legal Description: Lt Mf 6

Building Related

Percent Occupied: 75
General Condition: Good
Stories Total: 2
Year Built: 1976
Parking Total: 8
Number Of Buildings: Yes

Land Related

Part of Planned Development?: No
In Flood Plain?: No

Financials

Tax Assessed Value: 37610

More Information

Status Change Info

Status Change Date: 2026-08-26

Auction Details

Auction: No

Area and Location

Airports: Charleston International

Directions & Remarks

Public Remarks: 902 Royal Tern with a rare opportunity to acquire four town-home style units in South Mount Pleasant, one of Charleston's most desirable submarkets. All comprised of 2 bed 1.5 bath. Unit B is vacant for showings. All units are month-to-month for income growth potential, and current income is A ($2,200), B (Vacant), C ($1,950), D ($2200). At 1.299M, the asset reflects a 5.2% cap rate on in-place income, assuming $2250 a month rent for Unit B. Current rents are below market, with comparable two-bedroom units averaging $2,620, creating strong upside potential. Pro forma rents at market levels suggest annual income could exceed $125,760, yielding an 6.3% CAP.

Property Sub Type

Multi Family: Yes

Roof

Asbestos Shingle: Yes

Current Use

Multi-Family: Yes

Special Listing Conditions

Standard: Yes

Structure Type

Multi Family: Yes
Quadruplex: Yes

Association Amenities

Hot Water: Yes
Laundry: Yes
Trash: Yes
Water: Yes

Construction Materials

Stucco: Yes

Parking Type

Surface: Yes

Heating

Central: Yes

Cooling

Central Air: Yes

Internet Access

Cable: Yes
Fiber Optic: Yes

Lot Features

Cul-De-Sac: Yes
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

Property Features

Property Sub Type: Multi Family Current Use: Multi-Family Special Listing Conditions: Standard Structure Type: Multi Family; Quadruplex Association Amenities: Hot Water; Laundry; Trash; Water Roof: Asbestos Shingle Construction Materials: Stucco Parking Type: Surface Heating: Central Cooling: Central Air Internet Access: Cable; Fiber Optic Lot Features: Cul-De-Sac; Level Road Frontage Type: City Street Road Surface Type: Paved Water Source: Public Sewer: Public Sewer Listing Terms: Cash

Documents

LBP Disclosure ›

PD Exemption ›

Listing Office: Align'd Properties

Last Updated: August - 26 - 2026

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