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918 Sea Gull Drive presents investors with a rare opportunity to acquire a stabilized Quadplex in South Mount Pleasant, one of Charleston's most desirable submarkets. Comprised of two 3-bedroom / 1.5-bath units and two 2-bedroom / 1-bath units, collectively generating $8,000 per month ($96,000 annually) in current income. At 1.2m, the asset reflects a 6.3% cap rate on in-place income, assuming a 35% expense ratio. All tenants are on month-to-month leases, providing immediate flexibility for rental growth. Current rents are below market, with comparable two-bedroom units averaging $2,620 and three-bedroom units averaging $2,980, creating strong upside potential. Pro forma rents at market levels suggest annual income could exceed $136,800, yielding an 8.3% cap.
| DAYS ON MARKET | 21 | LAST UPDATED | 10/6/2025 |
|---|---|---|---|
| TRACT | Shemwood | YEAR BUILT | 1976 |
| COMMUNITY | 42 - Mt Pleasant S of IOP Connector | COUNTY | Charleston |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| Elementary School | James B Edwards |
|---|---|
| Jr. High School | Moultrie |
| High School | Lucy Beckham |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 42 - Mt Pleasant S of IOP Connector |
| CONSTRUCTION | Brick |
| HEAT | Central |
| LOT | 9583 sq ft |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Shemwood |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing Provided by Three Real Estate LLC
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM program of the Charleston Trident Multiple Listing Service, Inc (CTMLS). All real estate listings are marked with the CTMLS Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
The broker providing this data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2025 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
The broker providing this data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2025 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
This IDX solution is (c) Diverse Solutions 2025.
