Tag: investment property
This is a unique rental investment opportunity, or condominium conversion, in historic, downtown Charleston. Adjacent to the prestigious Wentworth Mansion, this Harleston Village property is a short walk to dining and shopping along King Street, as well as College of Charleston, and the Medical University of South Carolina. These rentals are fantastic for young professionals, medical students, or small families.
With a total of 16 bedrooms and rare 16 off-street parking spaces, these have the potential to produce more than $275,000 in annual gross revenues. There are 3 separate, adjacent fee-simple properties that allow for multiple objectives. Extensive renovations have been done over the past three years. Listing includes 135.5, 137, & 139 Wentworth Street. The single family house is circa 1847 (form tax records) but the age is unknown on multi-unit properties.
If you are interested in this investment opportunity, or any other properties on the Charleston peninsula, stop by The Real Estate Studio or contact Chris Anderson.
- 7 Bedrooms and 8.5 Bathrooms
- 24′ Dramatic Foyer with Spiral Staircase
- Beautiful Brazilian Cherry Hardwoods
- Gourmet Chef’s Kitchen
- 14 Person Dining Room
- 300 gallon Saltwater Fish Tank
- Custom Patio with Outdoor Kitchen
- Infinity Pool/Hot Tub Overlooking the Ocean
- Spectacular 360 Degree Views from Rooftop Deck
- Private Boardwalk to the Beach
A new article in the Charleston Regional Business Journal contains information and analysis of the tax breaks offered by the new Stimulus package. Mark Cooter, of the accounting and advisory firm Elliot Davis, offers insight and analysis into some benefits for investors. The new laws are chock full of tax provisions for people interested in making real estate purchases in the current tax year. Besides the first-time home buyers tax credit of $8,000, there are other benefits that may make the decision of “to buy or not to buy” a bit easier for some. Most notable among the incentives is the extension of the bonus depreciation rules, which allow a 50% bonus over standard IRS depreciation allowances on fixed assets until then end of 2009.
Click HERE for the full article.