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MLS Number: 18025353 (More Details)
Single Family
1102 E Arctic Avenue
Folly Beach, SC 29439

Listed for: $893,740

** NOW AVAILABLE ** AMAZING OPPORTUNITY TO OWN A SECOND ROW HOME THAT RESTS ON A FULL CORNER LOT AND HAS BEACH ACCESS DIRECTLY ACROSS THE STREET! RENTAL INCOME PROJECTIONS ARE VERY STRONG AND WITH INVENTORY AT HISTORIC LOWS, IT'S SURELY GOING TO ATTRACT SOME ATTENTION.....BUT... WHAT REALLY SETS THIS ONE APART ARE IT'S POSSIBLITIES....READ ON TO LEARN MORE! *** We're proud to present 1102 E. Arctic Avenue, a (5) bedroom, (3) full bath 2345 square foot home that was built in 1987. Folly Beach is known for it's laid back lifestyle and beautiful beaches. With such an ease of access to the Historic Downtown Charleston Peninsula, it's easy to see why so many people choose to rent or buy here. Some of the amenities that Folly Beach has to offer include but are not limited to: Public Beach Access

,Play Park, Boat Landing, Tennis Court, Basketball Court, Fishing Pier and more. Located on the 11th block of E. Arctic Avenue, a one way street, you are about halfway between the Morris Island Lighthouse and Center Street, the HUB of Folly Beach. Currently in a rental program but managed by the Owner, it's bringing in about $60,000-$70,000 a year in rental income.
That is with less effort than that of a Management Firm. Projections from a Rental Management Company have suggested that $80,000 or more could be possible. That is a very strong ROI% and making that figure even sweeter is how incredibly affordable the insurances are! Currently, the flood insurance is around $1000 annually and the Wind/Hazard around $3000...WOW! With one of only a handful homes available on Folly and one of the only ones on E. Arctic, it's easy to see how good of an opportunity this is but let's continue on with what all this listing has to offer. Upon arrival you will instantly notice how private it feels with natural buffers surrounding the property and will also appreciate the ease of access to the Beach. After that, you will likely notice that this is an entertainment friendly home. Starting with the enormous amount of parking spaces provided which as some of us know, parking spaces on Folly in the Summer can truly be priceless. This home offers both covered and uncovered parking on the paved pad and plenty of it. The next thing to catch your eye should be the several decks/full screen porch and crows nest which was completely rebuilt and designed by a structural engineer. You have some BREATHTAKING VIEWS OF THE ATLANTIC OCEAN FROM THE CROWS NEST AND IS MY FAVORITE FEATURE. With that said, the large deck is also a cool place to hang out while the massive screen porch is a great place to kick back in the shade while listening to the sounds of waves crashing along the beach. Talk about a true Beach home and Beach living at it's best.....There's even a HUGE SANDBOX equipped with tools for building a sandcastle right beneath the deck! Also found on the ground floor is a large storage room but what really makes it special is the FULL MOTHER-IN-LAW SUITE. That's right, there's a 1 bed, 1 bath MIL suite equipped with a kitchen and separate access in addition to the (4) bedrooms in the main home! Currently it's being rented with the main home but you could possibly have a variety of options such as: Living in it while renting out the main home. Living in the main home while renting out the MIL Suite. Renting out the MIL suite to a long term while putting the main home in a vacation rental program. Renting both in a vacation rental and even coming down and staying in one for a week while the other is rented....As we head upstairs and inside the main home, you will be greeted by a open entertainment friendly floor-plan. There's a massive kitchen with ample cabinetry and counter top space along with appliances that do convey. Each side of the home hosts two bedrooms and a full bath. The bottom line is that inventory on Folly is at historic lows and the potential for 8 to 9% GROSS ROI in a rental income program is just far to attractive to turn down. Not to mention the AMAZING VIEWS YOU GET FROM THE CROWS NEST OF THIS 2ND ROW HOME THAT RESTS ON BOTH A FULL AND CORNER LOT! Plus the added appeal of literally walking across the one way street to get on the beach access....and all that below $900,000!
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