Showing Agent:

Marshall Walker

Broker In Charge
Marshall Walker Real Estate
843-532-3214
Office: 843-225-7007
Licensed In: SC
License #: 43542

Attention Investors!! Great potential for income producing property in the up and coming Union Heights neighborhood. This area is booming with new opportunities and a rebirth of the community. 1 bed / 1 bath home is located on a quiet street, situated between the Park Circle area and Downtown Charleston. Minutes away from breweries, tech firms and co-ops. Renovate and flip or hold as a rental. This property is also considered to be in the Opportunity Zone. Sold strictly AS-IS. Seller will make no repairs.

What are Opportunity Zones?

Opportunity Zones are a new community development program established by Congress as a part of the Tax Cuts and Jobs Act of 2017, they are designed to encourage long-term private investments in low-income communities.

This program provides a federal tax incentive for taxpayers who reinvest unrealized capital gains into “Opportunity Funds,” which are specialized vehicles dedicated to investing in low-income areas called “Opportunity Zones.” The zones themselves are to be comprised of low-income community census tracts and designated by governors in every state.

South Carolina designated 25 percent of qualifying census tracts as an Opportunity Zone. Qualifying Zones are based on the 2011-2015 American Community Survey. Opportunity Zone Grant Fund – The South Carolina Department of Commerce has established The Opportunity Zone Grant Fund under which South Carolina governmental entities (counties and/or municipalities) may request funding to offset the costs of obtaining an outside vendor to assist in the structuring of a competitive Opportunity Zone Prospectus.

The program also allows the third party vendor to assist the governmental entity in determining the best project to pursue. Should any South Carolina governmental entity have an interest in applying for funding assistance, they must complete the application in full and attach a copy of the proposal from the vendor that the entity would like to employ. It is the responsibility of the applicant to follow their individual procurement process.

Contact our listing agent, Marshall Walker, for more information or to scheudle a showing! 843-532-3214