If you're a College of Charleston parent looking for a fully designer-furnished duplex property during Charleston's student housing crunch, 72 Ashe Street offers a compelling way to secure housing for your student while also building equity and generating income.This completely renovated Downtown Charleston duplex is offered fully furnished and sits within easy walking and biking distance of the College of Charleston, MUSC and Upper King Street.
With two separate residences, off-street parking and a private backyard, the property offers multiple ways to live in, rent and invest in one of the peninsula's most convenient locations. Although there are many possible uses, the property is currently configured as a legal bed-and-breakfast, creating a unique owner-occupant opportunity.One residen
ce can be claimed as the owner's primary residence and may qualify for the 4% property tax assessment, while the second residence is taxed at 6% and is legally permitted for short-term nightly rental use. When operated full-time, the short-term rental unit is projected to gross $82,000-$91,000 annually.
Buyers should independently verify tax treatment, licensing and applicable City of Charleston requirements. Completely redesigned down to the studs, 72 Ashe consists of two beautifully finished residences. Unit A features 3 bedrooms and 2 full bathrooms.
Unit B offers 2 bedrooms, 2 full bathrooms and a dedicated office/flex space that can function similarly to a third bedroom. For a College of Charleston parent, the possibilities are especially attractive: purchase a turnkey furnished property for your student, rent additional bedrooms to friends or classmates, and use the second residence to generate additional income.
Rather than paying rent for four years, this creates an opportunity to own Downtown Charleston real estate while rental income helps offset the cost of ownership. For an owner-occupant, live in one residence while producing income from the other. For MUSC physicians, residents, employees and students, the proximity to the medical district provides an incredibly convenient alternative to commuting and parking.
Investors can also explore furnished long-term, mid-term and short-term rental strategies depending on their goals and applicable regulations. Even better, 72 Ashe includes two features that are increasingly hard to find Downtown: off-street driveway parking and a spacious private backyard.
Leave the car at home and experience Charleston on foot or by bike. The College of Charleston and MUSC are nearby, along with some of the city's most popular restaurants, coffee shops and nightlife, including Vern's, Chubby Fish, The Daily, Bad Bunnies Coffee, Prohibition, Last Saint and everything Upper King Street has to offer.
Whether you're buying for your College of Charleston student, looking to house-hack, seeking a furnished Downtown residence or building a Charleston investment portfolio, 72 Ashe Street offers flexibility that is exceptionally difficult to replicate.
