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Historic Gem with Unlimited Income Producing Potential. Step into a unique opportunity at this historic 1881 residence, formerly known as The Pink Dolphin Bed & Breakfast, located just two blocks from the vibrant heart of downtown Summerville's historic district. This remarkable property blends timeless charm--including heart-of-pine floors, eight fireplaces, large period windows, and original architectural details--with thoughtful modern updates and income-generating spaces. Approximately 3, 602 sq ft, on a generous roughly 0. 57-acre lot. Renovations & Upgrades: The current owners have completed significant extensions, remodels, and a beautifully renovated kitchen, enhancing functionality while maintaining historic character. Flexible Layout for Multiple Uses: A fully functional first-floor unit, currently operating as an Airbnb, accessible via its own entrance. A full one-bedroom apartment on the second floor with a living room/bedroom, kitchen, and separate laundry facilities ideal for extended family, rental income, or guest quarters. Versatile Uses & Income Streams: Live in the main home while generating income through the separate units, or reimagine the property as a thriving bed & breakfast, charming restaurant, event venue, or multi-generational residence. There's also strong potential for redevelopment or rebranding, this is truly a canvas for vision and opportunity. Location Hard to Beat: Nestled in the heart of historic downtown Summerville, it's within walking distance to Hutchinson Square, beloved shops, restaurants, festivals, and community events, making it both a lifestyle dream and a savvy investment. Summary: Whether you're looking to live in a storied Southern home, operate a boutique hospitality business, or build diversified rental income, this property delivers. The blend of character, location, and flexible design positions 301 E Richardson Ave as a rare and compelling offering in Summerville's market. Highlights at a Glance Historic Charm Built in 1881, with original heart of pine floors, fireplaces, and historic architectural details. Modern Renovations Updated kitchen and remodeled spaces blending historic and modern appeal. Income Potential with Separate Airbnb rental and full second-floor apartment, ideal for multiple revenue streams. Location can not be beat Downtown Summerville, steps from shops, restaurants, events, and historic attractions. Versatility Live, work, invest, convert to B&B, multi-gen living, wedding venue, restaurant, or return to former hospitality use. So many options and opportunities. Or just enjoy living here as your primary residence and enjoying everything being in the heart of downtown Summerville has to offer. Zoned both residential and commercial.
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Our Executive Mortgage Banker:
$1,254,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,003,200 | $1,003,200 | $1,003,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.125% | 6.375% | 6.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.411% | 6.487% | 6.309% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $6,096 | $6,259 | $8,533 |
| Total Monthly Payment | $6,221 | $6,384 | $8,658 |
* 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.