140 Spring StreetCharleston, SC 29403

Description

An exceptional opportunity to acquire a fully renovated, fully licensed commercial short-term rental complex in the heart of downtown Charleston. 140 Spring Street is a boutique, three-unit offering designed to command premium nightly rates while delivering a rare combination of privacy, parking, and outdoor living--features that consistently outperform in Charleston's high-barrier STR market. The property features two spacious 3-bedroom / 2-bath residences and one well-appointed 1-bedroom unit, creating multiple income streams ideal for group travel, extended stays, and high-yield weekend demand. Renovations were thoughtfully executed to preserve historic charm while delivering modern finishes that today's guests expect.A true differentiator is the private, walled courtyard exclusive to one of the 3-bedroom units. Complete with a gazebo, brick fireplace, and dedicated sitting area, this outdoor sanctuary significantly enhances guest experience and booking appeal. The courtyard also offers potential for a plunge poolan extraordinary rarity in downtown Charleston and a proven lever for materially increasing ADRs and annual revenue. Off-street parking further strengthens the asset's competitive position, while in-place commercial STR licensing allows for immediate operation with no entitlement risk. Beyond operational performance, ownership offers significant tax advantages unique to short-term rentals, including the potential for accelerated depreciation and cost segregation, which may allow investors to offset a substantial portion of incomeoften without passive activity limitations, subject to individual circumstances and tax strategy. This is a rare opportunity to acquire a stabilized, scalable, and tax-advantaged STR asset in one of the Southeast's most supply-constrained and resilient markets. $300,000.00/ in annual revenue projected from a reputable local management company.

Property Information

Property type

Residential

Sub-type

Single Family Residence

Style

Victorian / Villa

Year built

1890

Stories

3

Building area

3,034 Sq Ft

Lot size

0.08 acres

Ownership

Fee Simple

Days on market

277

MLS^® Listing#

26002821

Property Features

Cooling

None

Heating

None

Parking

Off Street

Sewer

Public Sewer

Water source

Public

Schools

Elementary

James Simons

Middle

Simmons Pinckney

High

Burke

Financial Details

Annual taxes

$28,052

Directions

Spring Street Between Rutledge And Kracke Street