2nd row Hilton Head Sea Pines home with over $260,000 income, over $170,000 profit & over 7% ROI

$2,299,000
8
7
5,700
sq. ft.
$403
per sq ft
Heated sq ft: 5,700 sq ft
Avg Nightly Rate: $1,100
Home Legally Sleeps: 24
Occupancy Rate: 35 weeks
Annual Gross Income : 270000
Annual Net Operating Income : 177000
Property Type: Detached Single Family Home (Villa, Cabin, Cottage)
Ownership Type: Full (100%)
Seasoned Short Term Rental: Yes
Furnishings Included: Yes
For Sale By: Owner
Seller Financing: Yes
Niche: Beach, Golf, Resort, Weddings or Family Reunions
New Construction: Inquire
Days on Vrolio: 239

Property Description

2nd row from ocean (90 second walk to beach). 8 bedroom, 7 bath high performing rental property on oversized lot on one of the most prestigious streets on the island. 4 common seating areas, huge kitchen with Sub-Zero fridge, double dishwashers, wet bar, wine fridge. 2nd wet bar in game room. 4 King master bedrooms with private baths, a double queen bedroom, double twin with daybed/trundle bedroom, double twin bedroom and double bunk bed room. Originally built in 1972, home size was doubled in size in major 2003 renovation. Website (www.10RoyalTern) and 50+ strong reviews on VRBO/Homeaway (www.vrbo.com/280009) can be transferred to buyer. Automation in place to handle all guest communications and direct-to-owner reservations. Local property manager handles inspections, cleaning and addressing any issues that come up during guest stays. Here's your opportunity to own the highest performing rental property on the island with an ROI over 7% at the asking price.

Presented by:
Owner:
Mike Rowen
Seller Financing
Yes
Distress Sale
None
Seller Financing Terms
Up to $1,000,000 financed at comparable bank rates
Seasonal Nightly Rates
High: 2042
Low: 356
Peak: 2042
Special Event: 356
Avarage: 1100.00
Furniture Age
6
Est Value of Furnishings
$100,000
Peak & High Seasons
June, July, August
Ownership Percentage
Full (100%)
Qualifies for foreign national visa
Not sure
Reason for Selling
Purchased another rental home on HH island and only need 1 to spend winter in as a snowbird.
Foreign national buyer restrictions from government?
Not sure
Gross Annual Income
270000
Net Operating Income
177000
Stories
2
Additional Indoor Rooms
Attached Garage for No car, Family Room, Formal Dining Room, Game Room, Living Room, Master Suite Down, Multiple Master Suites, Sun Room
Appliances
Dishwasher, Dryer, Electric appliances, Full stove, Garbage Disposal, Gas appliances, Microwave, Oven, Refrigerator, Washer, Other
Heating/Cooling
Central A/C (gas or electric), Central Heat (gas or electric)
Floor Coverings
Carpet, Real Hardwood, Tile
Security
No
Security Description
Half Baths
Inquire
Master Suite(s)
Inquire
Energy Efficiency
Year built
1972
Outdoor Features
Deck, Fenced/Gated Yard, Inground Pool, Inground Spa, Sprinkler System, Walk Out Balcony
View
Ocean
Backyard Exposure
East
Lot Size
Oversized 2nd row lot from semi private beach in Sea Pines Plantation.
Community Features
Bar, Bike Rentals, Clubhouse, Community Pool(s), Driving Range, Fitness Center, Gated Community, Golf Shop, Guard Gated Community, Health Spa, Marina, Media/Business Center, Meeting Rooms, Nature Trails/Walking Path, Ocean Access, Private Golf Course, Public Golf Course, Restaurant(s), Stores, Sundries Shop/Convenience Store, Tennis Court
Tax Amount/Year
$23,065
CDD Amount
Inquire
Neighborhood
Inquire
Deed Restricted Community
Yes
Interview Required
No
Neighborhood Amenities
Bar, Bike Rentals, Clubhouse, Community Pool(s), Driving Range, Fitness Center, Gated Community, Golf Shop, Guard Gated Community, Health Spa, Marina, Media/Business Center, Meeting Rooms, Nature Trails/Walking Path, Ocean Access, Private Golf Course, Public Golf Course, Restaurant(s), Stores, Sundries Shop/Convenience Store, Tennis Court
Mandatory HOA
Inquire
Home Legally Sleeps:
24
Onsite Parking
Driveway plus garage can hold 8-9 vehicles
Neighborhood Association STR Rules
HOA allows STR
Municipality STR Rules
No restrictions documented by owner. Verification recomended
Transferrable Permit or License
Yes, Municipality Issuing New Permits
Rental Tax Info
$11.00
Minimum Nightly Rental
No Minimum
Rental Length Requirement
No Restriction
Has Rental History
Yes
Established Rental History
5 Years
Occupancy Rate
35
Being Sold with Bookings
Inquire
Caretaker Info
Caretaker is not local to the property, Caretaker can stay and oversee property.
Bookings Placed By
Owner, Manager
Managed By
Owner, Manager, Caretaker
Management Bookings Percentage
Inquire
Caretaker Bookings Percentage
Inquire
Paid Booking History
Yes
Future Booking Calendar
Management Fees
300.00 Monthly
Caretaker Fees
300.00 Monthly
Sold with Marketing Collateral
Yes, AirBnb profile, Private website, Existing database of guests, Professional photos, VRBO and/or Homeaway profile, 50+ reviews
Manager Cancellation Policy
30 days notice
 
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Credit Card Fee
$1.30
Cleaning Fee
$17,840.00
Licesnes & Permits (Annual)
$50.00
Advertising & Tech Costs (Annual)
$559.00
Yard & Pest Control (Annual)
$2,160.00
Pool & Spa Maintinence (Annual)
$3,058.00
Electricity (Annual)
$8,573.00
Water/Sewer (Annual)
$1,495.00
Cable/Interbet (Annual)
$1,902.00
Accounting Fee (Annual)
Inquire
Property Taxes (Annual)
$23,065.00
Homeowner's Insurance (Annual)
Inquire
Short Term Rental Insurance Rider (Annual)
$9,076.00
CDD Fee (Annual)
Inquire
Annual Homeowner's Association Dues
$1,076.00
Additional Membership Fees (Annual)
Inquire
Acquisition
Purchase price
Closing costs
Home Inspection
Furniture & Interiors Package
Rehab Work Estimates
Other
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