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Listed by Birchin Lane Realty Advisors, LLC
$3,100,000
Est. payment /mo
7 Beds
5 Baths
3,034 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Detached
Listing Status Active
Purchase Type For Sale
Square Footage 3,034 sqft
Price per Sqft $1,021
Subdivision Cannonborough-Elliotborough
MLS Listing ID 26002821
Bedrooms 7
Full Baths 5
HOA Y/N No
Year Built 1890
Lot Size 3,484 Sqft
Acres 0.08
Property Sub-Type Single Family Detached
Property Description
An exceptional opportunity to acquire a fully renovated, fully licensed commercial short-term rental complex in the heart of downtown Charleston. 140 Spring Street is a boutique, three-unit offering designed to command premium nightly rates while delivering a rare combination of privacy, parking, and outdoor living--features that consistently outperform in Charleston's high-barrier STR market. The property features two spacious 3-bedroom / 2-bath residences and one well-appointed 1-bedroom unit, creating multiple income streams ideal for group travel, extended stays, and high-yield weekend demand. Renovations were thoughtfully executed to preserve historic charm while delivering modern finishes that today's guests expect.A true differentiator is the private, walled courtyard exclusive to one of the 3-bedroom units. Complete with a gazebo, brick fireplace, and dedicated sitting area, this outdoor sanctuary significantly enhances guest experience and booking appeal. The courtyard also offers potential for a plunge poolan extraordinary rarity in downtown Charleston and a proven lever for materially increasing ADRs and annual revenue.
Off-street parking further strengthens the asset's competitive position, while in-place commercial STR licensing allows for immediate operation with no entitlement risk.
Beyond operational performance, ownership offers significant tax advantages unique to short-term rentals, including the potential for accelerated depreciation and cost segregation, which may allow investors to offset a substantial portion of incomeoften without passive activity limitations, subject to individual circumstances and tax strategy.
This is a rare opportunity to acquire a stabilized, scalable, and tax-advantaged STR asset in one of the Southeast's most supply-constrained and resilient markets.
$300,000.00/ in annual revenue projected from a reputable local management company.
Off-street parking further strengthens the asset's competitive position, while in-place commercial STR licensing allows for immediate operation with no entitlement risk.
Beyond operational performance, ownership offers significant tax advantages unique to short-term rentals, including the potential for accelerated depreciation and cost segregation, which may allow investors to offset a substantial portion of incomeoften without passive activity limitations, subject to individual circumstances and tax strategy.
This is a rare opportunity to acquire a stabilized, scalable, and tax-advantaged STR asset in one of the Southeast's most supply-constrained and resilient markets.
$300,000.00/ in annual revenue projected from a reputable local management company.
Location
State SC
County Charleston
Area 51 - Peninsula Charleston Inside Of Crosstown
Exterior
Parking Features Off Street
Building
Lot Description 0 - .5 Acre
Story 3
Sewer Public Sewer
Water Public
Architectural Style Victorian, Villa
Level or Stories 3 Stories
New Construction No
Schools
Elementary Schools James Simons
Middle Schools Simmons Pinckney
High Schools Burke
Others
Acceptable Financing Any
Listing Terms Any
Financing Any
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