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Residential Income at 140 Spring Street, Charleston SC 29403
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$3,100,000

140 Spring Street, Charleston SC 29403
Charleston, SC 29403
Listed by Melanie Koukos
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1890

About this home

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 details

MLS
CHS Regional MLS
MLS #
26002812
Property type
Residential Income
Subdivision
Cannonborough
Status
Active
Days on market
249
On market date
January 30, 2026
Stories
N/A
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
N/A
Lot size
0.08 acres

Location

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary
James Simons Montessori
0.78 mi away · Grades -1-8
Zoned school (attendance boundary, 2015-16 data)
4.0
Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating
State rating: Good (2025)
Enrollment
376
Student:teacher ratio
13.4:1
District
Charleston 01
Middle
Simmons Pinckney Middle
0.37 mi away · Grades 6-8
Zoned school (attendance boundary, 2015-16 data)
2.2
Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating
State rating: Unsatisfactory (2025)
Enrollment
262
Student:teacher ratio
10.1:1
District
Charleston 01
High
Burke High
0.39 mi away · Grades 9-12
Zoned school (attendance boundary, 2015-16 data)
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
355
Student:teacher ratio
6.0:1
District
Charleston 01

Walkability

Blended score for Charleston's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

84
Highly walkable
out of 100
EPA National Walkability Index
14.5 / 20 -- Above average walkable
Google Places amenity density
100 / 100
Restaurants & cafes20
Grocery stores15
Parks20
Schools20
Transit stops20
Pharmacies18

Market position

How this listing compares to current activity in Charleston, from live MLS data.

On the market 249 days -- 179 more days than Charleston's current average of 70 days.
For reference, the median list price across 1,061 active listings in Charleston right now is $599,000.

Mortgage calculator

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Est. monthly payment
$18,819/mo
$620,000 down
$2,480,000 loan
Principal & interest$16,085
Property tax (est.)$2,583
Home insurance (est.)$150

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Data source: Listing information provided by CHS Regional MLS via Trestle/CoreLogic. Last updated 23 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.