Welcome to 107 Magwood Drive, a potentially well-positioned investment opportunity in one of Summerville's most convenient locations. This well-maintained quadplex features four thoughtfully designed 2-bedroom, 1.5-bathroom units, making it an ideal fit whether you're searching for your next home, a potential income-producing property, or a strategic addition to your portfolio.… Read More If you're exploring a house-hack strategy, this property allows you to move into one unit while renting the three remaining fully leased units. Current leases include: Unit A: $1,400/month Unit B: $1,500/month Unit C: $1,500/month Unit D: $1,250/month. Altogether, the quadplex brings in $5,650 per month in gross rental income, offering the potential for immediate cash flow.Owned and meticulously maintained by the same owner for 22 years, it has benefited from $300,000 in capital improvements. The result is a fully stabilized asset with minimal maintenance concerns and immediate cash flow potential. The tenant base is remarkably stable, with average tenancies ranging from 5 to 8 years, and several long-term residents staying 12, 16, even 17 years, clear evidence of a well-managed and desirable living environment. Located just 3.7 miles from Historic Downtown Summerville, 5.5 miles from I-26, and 6.5 miles from Nexton Square, the property offers unmatched access to local amenities, shops, restaurants, and major employers. Residents will enjoy living in the Dorchester-2 School District. Whether you're seeking a turnkey 1031 exchange opportunity or a comfortable place to live while renting the additional units, 107 Magwood Drive presents a compelling option in a high-growth Charleston submarket. The buyer agrees to cooperate with all documentation necessary to complete a 1031 exchange, if applicable. Proof of funds or a letter of credit (LOC) from a bank or mortgage lender is required prior to any showings or walkthroughs. *Rental availability and options are not guaranteed. Buyers interested in residential and other rental options must verify with any and all governing bodies. Read Less
Courtesy of Matt O'Neill Real Estate Paul Kelton
Listing Snapshot
Days Online
352
Last Updated
Property Type
Residential Income
Beds
8
Square Ft.
4,010
Lot Size
0.32 Acres
Year Built
1984
MLS Number
25015600
30 Days Snapshot Of 29485
$385k
+3%
(avg) sold price
102
+4%
homes sold
87
-3%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1984, 2 stories, Other structures: "No"
Cooling
"Central Air"
Heating
"Central"
Interior Features
"Ceiling Fan(s)"
Laundry
"Washer Hookup"
Lot
0.32 acres, 13,939 square feet, Area: 0.32
Parking
"Other"
Roof
"Asphalt"
Sewer
"Public Sewer"
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