22 Corinne St # 31, Charleston, SC 29403

$949,000

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Home Description

Welcome to the incredible combination of location, lifestyle and stable income in a contemporary townhouse in historic downtown Charleston. For investors, 22A Corinne is a turnkey source of immediate cash flow, with minimal vacancy risk and virtually no turnover costs. Whether it is a 1031 exchange, portfolio addition, or first-time investor, this stable, income-producing property is a perfect turnkey opportunity. This downtown 3 bed/2.5 bath has been steadily rented in a high demand, low supply area. It's location is second to none, with an easy walk to MUSC, College of Charleston, the Citadel, and upper King Streets dining and nightlife. Highlighted by 3 balconies and a two car garage, this gem in historic downtown Charleston could be yours.For the parent of a future student (MUSC, CofC, Citadel), 22A Corinne is an opportunity to own your student's housing: buy now, secure future housing in a high demand area, let your child take the primary suite and let roommates pay the mortgage. For a second home owner, lock in your Charleston lifestyle now and collect income until you're ready to relocate to this property near King Street and in the center of Charleston action. Corinne St HOA, dues $110/month including flood insurance paid monthly with HOA dues. Unit is presently occupied by 3 seniors at College of Charleston, leased through June 30, 2025 at $5,000/month total New lease effective July 1, 2025 through June 30, 2026 with (3) new tenants at $5,100/month total Leases transfer to Buyer and become Buyer's rights and obligations Seller holds security deposits of 5,000 and 5,100 respectively, to be transferred to Buyer as applicable. Seller holds advance receipts of last month's rent of $5,000 and $5,100 respectively for June of each year, to be transferred to Buyer as applicable. Copies of leases and parental guarantees available on request. Tenants pay all utilities (electric, water, internet/cable) except trash pickup (provided by city taxes). Features: 1st Floor - living area, kitchen with island & dining area, ½ bath, balcony 2nd Floor - 2 bedrooms, full bath, laundry closet with stacked washer/dryer, balcony 3rd Floor - master bedroom, full bath, patio Ceiling fans in all bedrooms Garage level - tandem spaces for 2 vehicles, room for storage, crawl space Hurricane shutters stored in readily accessible crawl space Property currently registered as long term rental unit with City of Charleston Property has been well-maintained since purchase in Nov, 2022. Improvements & major repairs since purchase include: December 2022: New HVAC duct installed over laundry, other HVAC repairs, UV installed both units. 2023: Replaced/updated Hoppe multi-point latches on balcony storm doors. New kitchen faucet, garbage disposal, refrigerator, Schlage WiFi coded electronic lock on front door, and locks on all doors. Exterior stucco pressure-washed, sealed and repainted, most exterior trim repainted. Most window blinds and 3rd floor curtains replaced. 2024: Palmetto Pest Control Termite Contract - enhanced annual inspection with full IR scan (clear report) of all walls. Balcony and garage light fixtures replaced, garage door opener replaced with WiFi/My-Q unit (w/ remote owner control). 2025: Dryer vent system inspected & cleaned. Garage walls & ceiling repainted.