707 Meeting Street: A Downtown Charleston Investment Opportunity Worth a Fresh Look
New Price: $1,495,000 | $115,200 Annual Rent | Built 2017
Finding an income-producing property in Charleston is one thing. Finding one built in 2017 with established rental income, off-street parking and multiple future uses is something else entirely.
Now offered at $1,495,000, 707 Meeting Street, Units B & C, presents a compelling opportunity for investors, potential 1031 exchange buyers, or someone looking for a future live-in-one/rent-the-other property.
Two Residences. Established Income.
Located in Charleston’s rapidly growing North Central corridor, the property consists of two mirror-image townhouse-style residences totaling approximately 3,204 square feet.
Each unit offers 4 bedrooms, 3.5 baths, two ensuite bedrooms, hardwood floors, 9+ foot ceilings and a third-floor flex space. Kitchens feature granite countertops, stainless appliances and custom wood cabinetry.
Built in 2017, the property also features hurricane-impact windows, tankless water heaters, in-unit laundry and rare off-street parking for 3–4 vehicles. The exterior and interiors have been refreshed, along with the driveway, and the washers and dryers have been replaced.
The Numbers
Both residences are currently leased for $4,800 per month through July 31, 2027, generating:
$9,600 monthly rent
$115,200 annual contracted rent
At the new $1,495,000 asking price, the estimated returns are:
4.66% cap rate with a conservative 10% professional management allowance.
5.43% cap rate for an owner who elects to self-manage.
The important point: these numbers are based on current contracted rents—not projected future rents.
A Potential Charleston 1031 Exchange Property
707 Meeting may be especially interesting for an investor considering a 1031 exchange into Charleston real estate.
For someone selling an older rental property in New York, New Jersey, Connecticut, Boston or another high-cost market, 707 offers the opportunity to move equity into a newer Charleston asset with tenants and established income already in place.
With only two residences and two primary leases, ownership is also relatively straightforward compared with more management-intensive multifamily properties.
Flexibility Beyond the Current Leases
Today’s investment strategy doesn’t have to be tomorrow’s.
After the current leases expire, a future owner could continue renting both units, live in one and rent the other, create a Charleston residence with income next door, or potentially use one unit for a College of Charleston student while roommates help offset expenses.
That flexibility is a meaningful part of the investment story.
Why 707 Meeting Deserves Another Look
At its newly adjusted $1,495,000 price, 707 Meeting combines $115,200 in annual contracted rent, 2017 construction, two substantial residences, off-street parking and a location in Charleston’s evolving North Central corridor, just minutes from Downtown Charleston and the future Lowline.
For an investor seeking a combination of income, newer construction, manageable ownership and long-term Charleston real estate potential, this property deserves a closer look.
If you’re considering a Charleston investment property, 1031 exchange opportunity or owner-occupied income property, I’d be happy to walk you through the numbers. A complete Investment Offering Memorandum with income, expenses and both managed and self-managed scenarios is also available.
707 Meeting Street, Units B & C
Charleston, SC 29403
Now Offered at $1,495,000
Marian Kilpatrick | Carolina One Real Estate
Investment figures are for informational purposes and should be independently verified. Investors considering a 1031 exchange should consult their qualified intermediary and tax/legal advisors.