201 W Arctic Ave #402 Folly Beach, SC 29439

Listing details for 201 W Arctic Ave #402, Folly Beach, SC 29439 : Beautiful penthouse oceanfront property at Folly Beach, SC. Just 15 minutes from historic, romantic Charleston, SC. Charleston Oceanfront Villas looks out on the Atlantic Ocean and is within walking distance of the Folly Pier, shopping, dining and entertainment. Great rental income. The building was completely renovated in 2008 at a cost of $4.5 million. Upgrades included new stucco and deck surfaces on the ocean side, as well as new paint and deck surfaces on the street side. Upgraded swimming pool area for both pools. The seawall now meets FEMA 100 year surge requirements. This is saving homeowners over $5,000/year in insurance costs. Regime fee and insurance costs are probably the lowest on the east coast. And the property taxes are low compared with the rest of the eastern seaboard.We have high reserves designed to help pay for anticipated future capital expenses. The board commissions a capital reserve study approximately every five years in order to plan for future capital expenses. The City of Folly Beach and the Corps of Engineers signed a 50 year beach renourishment program in 1993. There are great relaxing ocean views from inside the condo living area and master bedroom, outside on the deck, from the pools and the beach. This marvelous gated community has two elevators for your use. In addition to the monthly regime fee, there is an annual insurance assessment fee, $1,806 for 2016.