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2040 Ashley River Rd, Charleston, South Carolina 29407
$
1990
Bedrooms
3
Utilities Included
No
Bathrooms
2
Furnished
No
Available to Lease on
ASAP
Property Type
Apartment
SQFT
1255
Key metrics
Rent
$
1990
Monthly Estimated Profit?
$
4600
Annual Estimated Profit?
$
55200
Acquisition Fee
$
3500
Security Deposit
$
300
Average Daily Rate
$
386
Occupancy
57%
Annual Revenue
$
84000
Key Features

Property Description:

Modern 1, 2, and 3-bedroom apartments, just 7 miles (approximately 15 minutes) from downtown Charleston and 20 minutes from Folly Beach. These thoughtfully designed apartments feature walk-in closets, private balconies, and energy-efficient appliances, making them the perfect blend of comfort and convenience.

The location ensures easy access to the city’s best restaurants, shopping, and employers, while on-site amenities like a swimming pool, fitness center, and dog park enhance the resident experience.

Investment Highlights

  • 1-3 Bedroom Units: Rent ranges from $1,490 - $2,050/month
  • Up to 8+ Units Available for Lease
  • Utilities Not Included (Water & Sewer in Building Name, $7 Pest Fee, Trash Avg $10/Month)
  • One Month Free Lease Special
  • 2-Bedroom, 1.5-Bathroom: Rent: $1,435 | Annual Revenue: $46,100+ | Monthly Profit: $2,127
  • 3-Bedroom, 2-Bathroom: Rent: $1,990 | Annual Revenue: $84,000+ | Monthly Profit: $4,600+

Apartment Features

  • Walk-in closets
  • Private balconies
  • Stainless steel appliances
  • Washer/dryer connections
  • Hardwood & carpeted flooring
  • Wireless & high-speed internet access

Community Amenities

  • Swimming pool
  • Fitness center
  • Amazon Hub Lockers
  • Dog park
  • On-site laundry facility
  • Garages available for lease

Rental Terms & Fees

  • Security Deposit: $300 per unit
  • Lease Length: 1 Year+
  • Utilities: Not included (Water & Sewer in building name, $7 pest fee, trash avg $10/month)
  • One Month Free Lease Special

STR Regulations Summary:  

Status:
Not STR Friendly

View Regulations Here

In Charleston, South Carolina, short-term rental (STR) regulations are strict, particularly for non-owner-occupied properties. Here are the key points:General Rules for Short-Term Rentals

  1. Owner-Occupied Requirement: Short-term rentals are generally allowed only in owner-occupied homes. The property must be the owner's primary residence, verified through the 4% Legal Residence tax exemption. Non-owner-occupied properties are largely prohibited unless located in commercially zoned areas within the Short-Term Rental Overlay District23.
  2. Occupancy Limits: A maximum of four adults is allowed per STR unit, regardless of property size or bedroom count12.
  3. Zoning and Permits:
    • All STRs must comply with zoning laws.
    • A short-term rental permit and a business license are required. These must be renewed annually24.
  4. Parking Requirements: Properties must provide at least one off-street parking space per bedroom in addition to parking for the primary residence13.
  5. Safety Standards: STRs must meet fire safety standards, including smoke detectors, fire extinguishers, and emergency exits1.
  6. Local Contact: A responsible party must be available 24/7 to address issues and respond within 30 minutes1.

Non-Owner-Occupied Rentals

Non-owner-occupied STRs are generally not permitted unless they are located in specific commercial zones within the Short-Term Rental Overlay District. These properties must still adhere to occupancy, parking, and safety requirements36.

Enforcement and Penalties

Charleston has a dedicated enforcement team to ensure compliance with STR regulations. Violations can result in fines, permit revocation, or legal action. The city does not "grandfather in" illegal STRs; all properties must comply with current regulations26.

Additional Considerations

  • Homeowners associations (HOAs) or neighborhood covenants may impose stricter rules than city ordinances1.
  • Operators must collect accommodations taxes from renters2.

For non-owner-occupied properties, it is essential to verify if the property is in a zone where such rentals are allowed and to obtain all necessary permits and licenses.

Property Location