Address 11 Hanover Street, #A,B, Charleston, SC 29403 US
Listing Provided by The Boulevard Company
Sale Type Not an Auction
MLS Area 51 - Peninsula Charleston Inside of Crosstown
Description : BRING ALL OFFERS! X Flood Zone - No Flood Insurance Required! A rare opportunity to own two charming 2021 construction homes in pristine condition on one lot just blocks from King Street in the heart of downtown Charleston.
BRING ALL OFFERS! X Flood Zone - No Flood Insurance Required! A rare opportunity to own two charming 2021 construction homes in pristine condition on one lot just blocks from King Street in the heart of downtown Charleston. 11 Hanover Street offers incredible flexibility for a College of Charleston parent, owner-occupant, or investor. Both buildings have been rented since June 1, 2022, with tenants currently in place through May 31, 2027 (Building A) and April 30, 2027 (Building B). Current ownership has never increased rents, which have remained at $1,500 per bedroom since 2022, generating $10,500 per month in rental income. With current market rents ranging from approximately $1,850-$2,100 per bedroom, a new owner has significant upside potential to increaseincome at lease expiration. Tenants are responsible for all utilities with the exception of Wi-Fi.
The property is eligible for the STR CAT 2 Bed & Breakfast permit, allowing an owner to occupy one of the two buildings at the 4% owner-occupied tax rate while legally operating the other as a nightly short-term rental at the 6% tax rate. Projected gross revenue for owner-occupying Building B and short-term renting Building A is approximately $133,000 annually.
The front home (A) features 4 bedrooms, 4 full bathrooms, and 2,084 square feet, while the rear home (B) offers 3 bedrooms, 3 full bathrooms, and 1,378 square feet. Both homes were completed in 2021 and have been meticulously maintained since construction. Properties have recently been landscaped and interiors painted. Additional highlights include metal roofs, tankless water heaters for endless hot water, raised slab foundations (no crawlspace maintenance or moisture concerns), a transferable termite bond through Elam's, PLENTY off-street parking, and the ability to apply for additional residential parking decals through the City of Charleston.
Offering an unbeatable downtown location, rare X Flood Zone designation, modern construction, multiple investment strategies, and substantial income potential, 11 Hanover Street is truly a one-of-a-kind opportunity in downtown Charleston.
Exterior Features
Exterior Cement Siding
Foundation Raised Slab
Roof Metal
Water / Sewer Public Sewer
Interior Features
Flooring Ceramic Tile,Luxury Vinyl
Master Bedroom Ceiling Fan(s),Walk-In Closet(s)
Cooling Central Air
Heating Central,Heat Pump
Schools
Elementary School James B Edwards
Middle School Simmons Pinckney
High School Burke
11 Hanover Street, #A,B
is currently listed for sale at $1,999,999 and is in the 29403 zip code, in the Eastside neighborhood of Charleston. Schools near include James B Edwards, Simmons Pinckney and Burke.Of course the best way to learn about this home for sale is to come and see it in person, just call me at to arrange a showing of 11 Hanover Street, #A,B
.
This is a 7 bedroom single family detached property at 11 Hanover Street, #A,B
in Eastside in Charleston which is listed for $1,999,999. The total heated square footage is approximately 3,462 sq ft, which works out to $578
per square foot. This home was built in 2021 and has 7 full bathrooms.
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