6 Gannet Street, Hilton Head Island

Motivated Seller - Seller Offering To Pay For Two Pools with Full Priced Offer: RARE FIND: A completely renovated TRUE DUPLEX with 2 Kitchens, 6 Bedrooms, and 4 Bathrooms. It even has two exterior power meters. Private entrances via rear decks or a shared front entry with interior locking doors. Only eight rows and a short 5-minute walk to the beach! Add two pools for $108k to produce $160++k gross rentals- $80k per floor! Keep the 2nd floor private and rent the 1st floor as an income producer, or rent both! Not into the duplex setup? It would be super easy to convert the downstairs kitchen/living area into another full bathroom and one or two more bedrooms, turning this house into a seven or eight-bedroom rental machine!!! Forest Beach is a very sought-after neighborhood with Coligny Plaza, Celebration Park, restaurants, and grocery stores a short walk away. LET'S PUT THIS OPPORTUNITY INTO PERSPECTIVE: The current list price of $1.45M, plus the two pools, is $1.558M. The current property manager has given a rental projection of $160k gross. A property that does 10% of its purchase price is a good opportunity, but unfortunately, a property that does 10% of its purchase price in gross rentals is rarely seen these days. I specialize in vacation rental sales and look at actual rental income all the time. In my opinion, this house could gross around $200k after the pools are added and the groundwork is laid, with good reviews and repeat guests starting to happen. While big 6+ bedroom houses are sitting vacant during the off-season, this house is booked for long weekends, snowbirds, etc. It will continuously make income throughout the year. Look at this property any way you want and feel free to ask questions. Let's get a deal done!
*Listing provided by The Native Islander Group courtesy of Real Life Brokered By EXP Realty LLC (889).