16 20th Ave Isle Of Palms, SC 29451

Listing details for 16 20th Ave, Isle Of Palms, SC 29451 : Incredible investment opportunity to own an income producing, renovated home near the beach on Isle of Palms with an in-ground pool! This property comes with a long-term lease generating $12k/month until March 14, 2024. The current tenant has two 1-year options to renew with annual increases upon renewal. Owner pays no management fees and the tenant covers all utilities, pool maintenance, landscape maintenance, cleaning, and common wear & tear expenses. Seller pays taxes, insurance, and only major repairs resulting in a cap rate of over 5.4%. At the end of the lease term, the possibility exists to short term rent the property if desired offering an opportunity to increase the cap rate even further! The interior of this home has been tastefully updated, showcasing a modern aesthetic andthoughtful design. The renovations have been skillfully executed, resulting in a space that is both functional and visually appealing. Each room is bathed in natural light, creating a bright and airy ambiance. As you explore the property, you'll discover several notable features that make this home truly exceptional. A new roof and HVAC system provide peace of mind, ensuring comfort and efficiency for years to come. The addition of the brand-new pool offers the perfect oasis for relaxation and entertainment, ideal for cooling off during those warm summer days. The large fenced yard provides privacy and ample space for outdoor activities or hosting gatherings. For added convenience, a 1-car garage is included, offering secure parking and additional storage options. Currently rented, this property presents an excellent opportunity for investors seeking a turnkey investment. Alternatively, for those looking to make Isle of Palms their permanent residence, this home offers the flexibility to continue renting until the lease is up, and then transition into a retirement haven or explore the possibility of short-term rentals. Don't miss out on this fantastic opportunity to own a renovated gem in one of South Carolina's most sought-after beach communities.