902 Royal Tern Lane, A B C D, Mount Pleasant, SC 29464

$1,299,000

Property Type: Commercial Sale Square Footage: 4,310 Status: Active Contingent

Current Price: $1,299,000 List Date: 8/26/2026 Last Modified: 10/16/2026

Overview

Description

902 Royal Tern with a rare opportunity to acquire four town-home style units in South Mount Pleasant, one of Charleston's most desirable submarkets. All comprised of 2 bed 1.5 bath. Unit B is intentionally vacant for renovations. Can be leased within a week on average according to seller. All units are month-to-month for income growth potential, and current income is A ($2,100), B (Vacant), C ($2,000), D ($2000). At 1.299M, the asset reflects a 5% cap rate on in-place income, assuming $2250 a month rent for Unit B. Current rents are below market, with comparable two-bedroom units averaging $2,620, creating strong upside potential. Pro forma rents at market levels suggest annual income could exceed $125,760, yielding an 6.3% CAP.(Some Photos contain Ai Staging)

Listing Details MLS# 31009306

Location

Street Number: 902
Street Name: Royal Tern
Street Suffix: Lane
Unit Number: A B C D
County: Charleston
Nearest MSA: Charleston-North Charleston, SC
Submarket/Township: 42 - Mt Pleasant S of IOP Connector
State or Province: SC
Postal Code: 29464
Parcel Number: 532-04-00-157
Opportunity Zone: No

General Information

Property Sub Type: Multi Family
Secondary Sub-Type: Multi Family
Listing Name: 4 Townhome Style Units -S Mount Pleasant
Property Condition: Existing
Number of Units Total: 4
Building Area Total: 4310
Lot Acres: 0.16
Zoning: Mt Pleasant - MF - Multi-Family Residential
List Price/Acre: 8118750
List Price/SqFt: 301.39
For Comp Purposes Only: No
Opt In to Crexi?: No

Contract Information

Listing Contract Date: 2026-08-12
Original List Price: 1299000
Tax Legal Description: Lt Mf 6

Building Related

Percent Occupied: 75
General Condition: Good
Stories Total: 2
Year Built: 1976
Parking Total: 8
Number Of Buildings: Yes

Land Related

Part of Planned Development?: No
In Flood Plain?: No

Financials

Tax Assessed Value: 37610

More Information

Status Change Info

Status Change Date: 2026-10-16
Under Contract Date: 2026-10-16
Contingent: Active Contingent
Contingency Reason: Due Diligence

Auction Details

Auction: No

Area and Location

Airports: Charleston International

Directions & Remarks

Public Remarks: 902 Royal Tern with a rare opportunity to acquire four town-home style units in South Mount Pleasant, one of Charleston's most desirable submarkets. All comprised of 2 bed 1.5 bath. Unit B is intentionally vacant for renovations. Can be leased within a week on average according to seller. All units are month-to-month for income growth potential, and current income is A ($2,100), B (Vacant), C ($2,000), D ($2000). At 1.299M, the asset reflects a 5% cap rate on in-place income, assuming $2250 a month rent for Unit B. Current rents are below market, with comparable two-bedroom units averaging $2,620, creating strong upside potential. Pro forma rents at market levels suggest annual income could exceed $125,760, yielding an 6.3% CAP.(Some Photos contain Ai Staging)

Property Sub Type

Multi Family: Yes

Roof

Asbestos Shingle: Yes

Current Use

Multi-Family: Yes

Special Listing Conditions

Standard: Yes

Structure Type

Multi Family: Yes
Quadruplex: Yes

Association Amenities

Hot Water: Yes
Laundry: Yes
Trash: Yes
Water: Yes

Construction Materials

Stucco: Yes

Parking Type

Surface: Yes

Heating

Central: Yes

Cooling

Central Air: Yes

Internet Access

Cable: Yes
Fiber Optic: Yes

Lot Features

Cul-De-Sac: Yes
Level: Yes

Road Frontage Type

City Street: Yes

Road Surface Type

Paved: Yes

Water Source

Public: Yes

Sewer

Public Sewer: Yes

Listing Terms

Cash: Yes

Property Features

Property Sub Type: Multi Family Current Use: Multi-Family Special Listing Conditions: Standard Structure Type: Multi Family; Quadruplex Association Amenities: Hot Water; Laundry; Trash; Water Roof: Asbestos Shingle Construction Materials: Stucco Parking Type: Surface Heating: Central Cooling: Central Air Internet Access: Cable; Fiber Optic Lot Features: Cul-De-Sac; Level Road Frontage Type: City Street Road Surface Type: Paved Water Source: Public Sewer: Public Sewer Listing Terms: Cash

Documents

LBP Disclosure ›

PD Exemption ›

Listing Office: Align'd Properties

Last Updated: October - 16 - 2026

Properties marked with IDX logo are provided courtesy of South Carolina Commercial Multiple Listing Service, Inc. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Carolina Commercial Multiple Listing Service. Real estate listings held by brokerage firms other than the website owner are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing this data believes it to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

902 Royal Tern Lane, A B C D, Mount Pleasant, SC 29464 (MLS# 31009306)