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241 E Bay Street, Charleston, SC, 29401 | $5,500,000
Beautifully restored and well maintained, this 4 unit masonry structure is located in the center of the Historic District, one block from the City Market, surrounded by fine restaurants and shopping. The property also includes its own parking with 9 spaces onsite. Zoned General Business and located within the accommodation zone, approval for 4 unit accommodations, currently operating as the Charleston Chestnut Mansion, a 4 unit short term rental. This versatile property can operate as short term or long term rentals, or offices giving one flexible use into the future depending upon market needs, especially with its corner location on East Bay and Guignard Streets. All 4 units are completely updated and furnished with bookings well into the future. Each unit has a separate entrance. The first floor has two 2 BD units at 1, 400 SQFT each. The second floor is over 3, 300 SQFT, with 3 BDs, 3BAs, and elevator access. The third level spans the upper floor with over 2, 100 SQFT and 2 BDs. Originally 2 separate structures, with the original built in 1871 (241 East Bay), a later addition at 243 East Bay was added during the 1986 Restoration. Comprehensive renovations from 2015 to 2021, including mechanical systems, windows, interior updates. 2025 gross income $588, 061. Showings limited due to bookings. This property is turnkey and ready to go!
Features
- Bedrooms: 9
- Baths: 9 full
- Style: Traditional
- Development: 51 - Peninsula Charleston Inside of Crosstown
- Year Built: 1871
- Heating: Central, Ductless, Forced Air
- Cooling: Central Air
- Approx Sq. Feet: 11,752
- Acreage: 0.15
- Elem. School: Memminger
- Middle School: Simmons Pinckney
- High School: Burke
- MLS#: 26005458
- Days on Market: 19 days
- Website: https://www.raveis.com
/eprop/26005458/241ebaystreet_charleston_sc?source=qrflyer
Listing courtesy of Carriage Properties LLC
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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To learn more about our credentials, visit raveis.com today.
Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Yokadi Mejia, William Raveis Insurance
561.335.7966
Yokadi.Mejia@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
241 E Bay Street, Charleston, SC, 29401
$5,500,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $4,400,000 | $4,400,000 | $4,400,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.625% | 6.125% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.214% | 6.223% | 6.078% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $25,329 | $26,735 | $36,833 |
| Total Monthly Payment | $25,454 | $26,860 | $36,958 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484