2201 Palm Boulevard

Isle of Palms, SC 29451

$3,150,000

MLS# 232705868

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Property Details

Property Type

RES

Neighborhood

None

Bedrooms

Bathrooms

Square Feet

2,840

Year Built

1965

Investment Potential

Est. Monthly Rental

$15,750

Cap Rate

3.3%

Appreciation Rate

3.5%

Description

Location+!! Vacation Rental or Fabulous Home. Steps to the beach, restaurants, night life, shopping and activity center. A 300 sq/ft guest cottage provides 2 additional bedrooms/hangout space for a total of 3140 sq/ft. This turnkey coastal retreat is on pace to gross $185K+ in 2025. This quintessentially classic beach home has been beautifully renovated to modern standards while preserving all the charm you love. The home offers 6 bedrooms and 4 full baths, including the separate guest house-Perfect for hosting or maximizing rental income. Inside, enjoy a bright white kitchen with quartz countertops and backsplash, double ovens and stainless appliances. Guests love the peace and privacy, stylish updates and abundant space. Relax on breezy porches or unwind by the private saltwater (cont) pool. This home offers something for everyone. A rare, revenue-generating opportunity in one of the Lowcountry's most desirable beach communities. This home is currently used as a rental, but you may decide to keep it for yourself! Do you love the ability to walk or bike everywhere? Do you dream of leaving the car parked in gated security while you walk across the street? Feel the sand between your toes. Walk in the surf. Revel in a glorious sunrise. Everything you need is here. This beautifully updated property features a light-filled, vaulted family room with panoramic pool and backyard views. Down the hall are two bedrooms and a renovated full bath. Just off the family room is a full, walk-in laundry and storage room. Upstairs the large third bedroom with porch access has its own updated bath. The vaulted primary suite features a fireplace, sitting area, porch access, huge walk-in closet, and a renovated bath with steam shower, soaking tub, shiplap, new fixtures, lighting, and mirrors. The saltwater pool has a new heater for year-round use, and a separate hot tub sits nearby. Major updates include a metal roof and spray foam insulation (2016), Conversion to sewer was completed last year to a tune of $37,000, HVAC (1st floor 2021, 2nd floor 2025), tankless water heater, newer windows, deck railing, paint, landscaping, and hardwood floors upstairs. The decks, porches and doors are freshly painted. The crawlspace has new ductwork and vapor barrier. The detached guest house includes a bedroom, full bath, and flex space for a living room, office, a daybed for extra sleeping quarters, (potential 6th bedroom,) or a bar. What a wonderful place for a home office, Mother-in_Law suite or private quarters for your guests. This property has been thoughtfully renovated and meticulously maintained. The mosquito barrier is in place, as well as the 2 fireplaces, but the current owner hasn't used them. The mosquito mister system and the fireplaces convey in as-is condition. Here's your chance to own a piece of island history in this well positioned, fully furnished beach home. Buyer to verify all information. Investor note: The property was off market for 3 1/2 months while it was being switced from septic to sewer, which was a huge interruption and loss of income. This year it's on track to produce and net 25+% more than last year.