Viewing Listing MLS# 22005555

$4,100,000 | N/A beds | N/A full baths | N/A half baths | N/A sqft

$3,500,000
1156 Russell Drive
Mount Pleasant, SC 29464
  • N/ABeds
  • N/AFull Baths
  • N/AHalf Baths
  • N/ASqFt
  • N/AYear Built
  • 4.00Acres
  • MLS# 22005555
  • Vacant Land
  • Sold

  • Approx Time on Market1 year, 3 months, 14 days
  • AreaMt. Pleasant South of Iop Connector
  • CountyCharleston
  • SubdivisionNone

Overview

This property is in probate, sale is subject to court approval. This offering reflects an existing mobile home park operating for decades at near full occupancy. The majority of tenants have been vacated to allow for increasing pad rates to market, or for residential redevelopment. The property also includes two residential lots that cannot be used for mobile homes, but offer potential for residential development, or resale to recoup the initial investment in the park.The park is accessed via a gravel road through a 25' strip of land passing between the two lots that is under the same ownership. The lots can be sold separately, but their sale will be contingent upon a closed sale of the mobile home park. Each lot will be reduced in size slightly to increase the park access road to 50'.The park alone has potential value of $3,600,000 at market rates while the lots are priced at $550,000 each. The $4,100,000 list price was set by the court.The pads are individually metered for power; common water is provided by the owner. The site is currently served by on-site septic, redevelopment will require sewer from the Town of Mount Pleasant. All zoning, density, utilities, & school information must be verified by the buyer and buyer's agent.*Please note: Wando and Lucy Beckham high schools are under a phase-in structure through 2023 based on grade level. If high school location is vital, call the school district to verify.TMS#532-03-00-022, 030, 031 & 107


Sale Info

Listing Date: 03-01-2022

Sold Date: 06-16-2023

Aprox Days on Market: 
   1 Year(s), 3 month(s), 14 day(s)

Listing Sold: 
    9 month(s), 12 day(s) ago

Original Asking Price: $1

Asking Price: $4,100,000

Selling Price: $3,500,000

Price Difference From Original: 
Increase $3,499,999

Price Difference From Asking: 
Reduced By $600,000

Agriculture / Farm

Grazing Permits Forest Service:  Yes

Grazing Permits Private:  Yes

Grazing Permits Blm:  Yes

Horse:  No

Farm Credit Service Incl:  Yes

Association Fees / Info

Bathroom Info

Business Info

Rent Control:  No

Buyer Compensation

Exterior Features

Pool Private:  No

Garage / Parking

Garage:  No

Attached Garage:  No

Interior Features

Fireplace:  No

Lot Info

Lot Size:  4.00

Lot Desc:  2 - 5 Acres, Interior Lot

Lot Size Units:  Acres

Acres:  4.00

Lot Sqft:  174240

Irrigation Water Rights:  Yes

Offer Compensation

Other

Mobile Home Remains:  Yes

Property Info

Property Type:  C

New Construction:  No

Building Area Units:  Square Feet

View:  No

Home Warranty:  Yes

Habitable Residence:  Yes

Sale / Lease Info

Sold Date:  2023-06-16T00:00:00

Lease Renewal Option:  Yes

Lease Considered:  Yes

Lease Assignable:  Yes

Unit Info

Utilities / Hvac

Utilities:  Electricity Connected, Water Connected

Heating:  No

Cooling:  No

Waterfront / Water

Waterfront:  No

Schools

Elem:  Mt. Pleasant Academy

Middle:  Moultrie

High:  Lucy Beckham

Directions

Head South On I-526bs/chuck Dawley Blvd, Turn Right Onto Schirmer St, Turn Left Onto Old Georgetown Rd/state Rd S-10-1063, Continue To Follow Old Georgetown Rd 0.2 Mi, Old Georgetown Rd Turns Right And Becomes Russell St, Head Northwest 0.1 Mi, Turn Right Onto Russell Dr

Courtesy of listing office The Guerry Group, LLC 

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Price & Status History (on charlestonneighborhoods.com since Tue, Mar 1st 2022)
  • Original Price: $1
  • Current Price: $4,100,000
  • Price Increased: $4,099,999
Date ChangedFromTo
06/17/2023$3,500,000 $4,100,000 Increase by $600,000
03/11/2022$1 $4,500,000 Increase by $4,499,999
Residential, Land, Other Disclaimer:

Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than Realty ONE Group Coastal are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Last updated on 03-28-2024 7:29 PM EST . The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright 2024 Charleston Trident Multiple Listing Service, Inc. All rights reserved.
Commercial Sale/Lease: Copyright 2024 South Carolina commercial MLS, Inc. All rights reserved. Last updated on 03-28-2024 7:29 PM EST est.

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