Historic Multifamily Home in Charleston Sold for $3.7 Million

 

Historic Multifamily Home in Charleston Sold for $3.7 Million

A historic eight-unit multifamily compound, constructed around 1860 and located in Charleston, has recently been sold for a sum of $3.68 million. The European villa-style residential property situated at 49 Smith St is spread over 7,525 square feet, providing home to 10 bedrooms and 10½ bathrooms.

The listing was hosted by Coldwell Banker Commercial Atlantic. The buyer of the property entities have been identified as CWSRTB264 LLC and 198 Rutledge Building LLC, based out of Mount Pleasant. The former owner, Richard Cone Jr., had originally bought the property in July 1997 at $639,000.

The Historic Value of the Property

The property agent, Kristen Krause, referred to the building as a “landmark” in Harleston Village that sits within walking distance from Colonial Lake. The front building of 49 Smith St. was constructed around 1860 while the rear carriage house added to the property in 1881.

Original features of this richly historic property include a two-color English Flemish brick exterior with white mortar and sizeable windows made of hand-poured glass. The compound is equipped with a large community laundry room, a garage and carport space, a rooftop deck access, and several veranda patios.

Krause noted the property offers a range of investment opportunities to the new owners. They could lease the existing units, convert them into condominiums to sell or transform the front and rear buildings back to a single-family residence.

New Rental Complex Opens in Moncks Corner

Another recent development in the Charleston region’s real estate sector involves opening a complex of rental apartments in Moncks Corner. Waterleaf at Foxbank Apartments, located at 100 Southern Vine St. in the Foxbank Plantation, are now open for lease. The monthly rents for the apartments start at $1,499. Floorplans range from one to three bedrooms, with options for one or two bathrooms.

Features and Amenities of the New Apartment Complex

The rental units feature custom cabinets, private balconies, screened-in porches, in-home washers, dryers and more. Amenities include a saltwater pool with an outdoor grilling station, a 24-hour fitness studio with a yoga and cycling room, a dog park with wash station, and a barn for storing bikes, kayaks and golf equipment with a repair shop.

The real estate landscape of Charleston is continually evolving with both historic properties and modern complexes being traded, offering a diverse mix of investment opportunities and living options for potential buyers and renters in the city.