Your Lowcountry real estate experts.
Charleston Revival Homes is a local small business dedicated to helping homeowners with a quick, easy, and transparent sale of their home. We also aim to add a restorative touch to the community, providing renovated housing to local prospective homeowners who are looking for their next move.
Founded in 2018 by Matthew Gaylord & Sean McMullen, two friends and graduates of the College of Charleston. Go Cougs!
Having spent the last decade-plus in the area, we’ve developed a deep appreciation for everything that Charleston has to offer, and we pride ourselves in creating a real estate market that reflects those ideals.
Charleston Revival Homes is your trusted partner for selling homes quickly and hassle-free in the Charleston area, including Charleston, Berkeley, and Dorchester counties.
We specialize in buying houses for cash, allowing homeowners to sell their properties as-is without the need for repairs or renovations. Our streamlined process ensures a quick closing, providing you with the peace of mind and financial relief you deserve.
*Whether you're facing a challenging situation or simply looking to move on, our team is here to help.
Join us in seizing the vibrant opportunities within the Charleston real estate market.
With a proven track record of acquiring single-family homes, multifamily units, and commercial properties, we are committed to maximizing returns through strategic renovations and targeted investments.
Let’s build wealth together!
Case Study: 1902-1908 Hampton Avenue, North Charleston, SC
-
Case Study: 1902-1908 Hampton Avenue, North Charleston, SC
Background
1902 Hampton Avenue is an 11-unit multifamily property located in North Charleston, SC. The property consists of four buildings:
A single-family home with 3 bedrooms and 1 bathroom.
Three single-level buildings:
Two buildings with four one-bedroom, one-bath units each.
One building with two one-bedroom, one-bath units.
The property was purchased in 2021 for $888,000, with rents well below market rates at the time of acquisition. The property was in rough shape, with significant deferred maintenance, outdated interiors, wood rot, and roof issues.
Strategy
The strategy for 1902 Hampton Avenue centered on a comprehensive value-add renovation plan to modernize the units, address deferred maintenance, and significantly increase rents. The property’s location in a rapidly growing area with planned infrastructure improvements, such as the Lowcountry Rapid Transit, made it an ideal candidate for a long-term hold.
Execution
The renovation plan included substantial upgrades across the entire property:
Single-Family Home Renovations:
HVAC installation
New DP-rated windows
New LVP flooring throughout
New kitchen with shaker cabinets, appliances, granite countertops, and subway tile backsplash
New bathroom with updated sink, tub, and tiled shower walls
New paint throughout the interior and exterior
New exterior doors and interior knobs
Electrical updates with new fixtures, fans, and lighting
Plumbing updates with new fixtures and sinks
New trim throughout
Landscaping improvements
One-Bedroom Unit Renovations:
New window AC units
New LVP flooring throughout
New kitchen with shaker cabinets, appliances, granite countertops, and subway tile backsplash
New bathroom with updated sink, tub, and tiled shower walls
New paint throughout the interior and exterior of all buildings and units
New exterior doors and interior knobs
Electrical updates with new fixtures, fans, and lighting
Plumbing updates with new fixtures and sinks
New trim throughout
Landscaping improvements
New hot water heaters
Challenges
During the renovation process, several challenges arose:
Tenant Management:
Some tenants refused to vacate the property despite being provided notice and allowed to stay until the end of their lease. This required multiple evictions, which delayed certain renovations.
Termite Issues:
Termites were discovered in the single-family house, along with a termite-infested cypress tree on the property.
Plumbing Damage:
Plumbing lines were damaged by vehicles driving over them, requiring repairs and preventative measures.
Despite these obstacles, the renovation was completed in 12 months, and the property came in under budget.
Financial Results
Gross Monthly Rents: Increased by approximately 101% since purchase.
NOI (Net Operating Income): Increased by approximately 138% since purchase.
Renovation Costs: Finished at 6% under renovation estimates.
Key Takeaways
Comprehensive renovations can dramatically improve property performance, even in challenging conditions.
Proactively addressing tenant-related challenges and deferred maintenance ensures long-term success.
Investing in a growing area with strong fundamentals and infrastructure development can yield significant returns.
Conclusion
1902 Hampton Avenue is now a well-performing multifamily property in a prime location. With its proximity to the planned Lowcountry Rapid Transit and other area investments, the property is positioned for long-term appreciation. The plan is to refinance into long-term debt in 2025 or 2026, depending on interest rate trends, to secure favorable financing and further optimize cash flow.
This property demonstrates the success of a value-add strategy and serves as a model for future acquisitions.
Case Study: 3336-3338 Kraft Avenue, North Charleston, SC
-
Case Study: 3336-3338 Kraft Avenue, North Charleston, SC
Property Overview:
Address: 3336-3338 Kraft Avenue, North Charleston, SC
Units: 9 units across 4 buildings
1 unit: 2 bed, 1 bath
8 units: 1 bed, 1 bath each
Purchase Price: $420,000
Initial Gross Monthly Rent: Under $2000 and only 1 paying tenant
Condition at Purchase: The property was mostly boarded up with extensive deferred maintenance. Only two tenants were in place, with only one paying rent.
Renovation Summary:
Scope of Work:
Full renovation of all units
Roof replacements
New windows throughout
Foundation repairs
Subfloor replacements
Full interior updates: kitchens, bathrooms, flooring, fixtures, electrical, and plumbing
Timeline:
8 units completed within the first 8 months
Final unit completed 9 months after purchase
Financial Performance:
Gross Monthly Rents: Increased by approximately 457% since purchase
NOI (Net Operating Income): Increased by approximately 1537% since purchase
Renovation Costs: Finished at 10% over renovation estimate
Challenges & Solutions:
Deferred Maintenance & Structural Issues:
Addressed significant foundation and plumbing issues
Updated plumbing to current standards
Neighborhood & Security Concerns:
Installed a portable motion-detected alarm system during renovations
Partnered with a local company to install security cameras
Coordinated with the electric company to enhance street lighting
Long-Term Strategy:
Plan: Hold long-term and refinance into permanent debt within 12-18 months
Market Positioning: Located between the naval base redevelopment, Park Circle, and Rivers Avenue revitalization, with new businesses (King BBQ, Wits End Comedy Club, Starlight Motor Inn) driving demand
Community Impact:
By transforming a long-abandoned and boarded-up property, this project has revitalized the neighborhood and provided much-needed affordable housing. The improvements contribute to North Charleston’s broader redevelopment efforts, supporting long-term growth and community stability.
Case Study: Transforming a 14-Property Package in North Charleston & Hanahan, SC
-
Case Study: Transforming a 14-Property Package in North Charleston & Hanahan, SC
Project Overview
In 2023, Charleston Revival acquired a distressed portfolio of 14 properties with 21 units across North Charleston and Hanahan, SC, for $2,100,000. The properties were in severe disrepair due to years of neglect under an ineffective property manager. Despite the challenges, our plan was to reposition the portfolio through strategic renovations, tenant stabilization, and selective sales to optimize long-term cash flow.
Initial Financials
Purchase Price: $2,100,000
Initial Gross Monthly Rents: Significantly under market rents
Condition: Heavy deferred maintenance, structural issues, outdated interiors, and poorly managed tenants
Renovation & Strategy
To maximize value, we executed a two-phase strategy:
Renovate & Hold: We identified 7 properties (14 units) with strong long-term rental potential to retain for cash flow.
Renovate & Sell: The remaining 7 properties (single-family homes, 3 bed/1 bath each) were positioned for resale post-renovation.
Scope of Renovations:
Structural & Mechanical: Roof replacements, foundation repairs, new HVAC units, ductwork, and window replacements
Interior Upgrades: Full renovations including new flooring, kitchens, bathrooms, and paint
Tenant Stabilization: Addressed problem tenants, handled evictions, and secured new leases at market rates
Timeline: The entire renovation and stabilization process took 13 months, largely due to existing tenant leases delaying the start of renovations.
Financial Results
Renovation Budget: Finished at 1% under budget
Gross Monthly Rents: Increased by approximately 87%
Challenges Faced
Tenant & Management Issues: The previous property management company had neglected the tenants, leading to difficulties collecting payments, particularly from government programs like Section 8 and 180 Place.
Evictions & Turnover: Some tenants refused to vacate, requiring legal eviction proceedings, which delayed renovations.
Unknown Structural Issues: Foundation problems and HVAC failures required additional unexpected repairs.
Long-Term Plan
With the renovations complete and rents significantly increased, we plan to refinance into long-term debt within the next four months and hold the properties for long-term cash flow and appreciation.
Key Takeaways
Strategic Selling: Selling part of the portfolio helped recover capital and reduce the renovation burden.
Proactive Management: Taking control of rent collection and tenant turnover early prevented further losses.
Market Optimization: By bringing units to market standards, we nearly doubled the rental income.
This project reinforced our ability to identify, renovate, and reposition distressed properties while maintaining a disciplined investment approach.
We are dedicated to enhancing the Charleston community with a special focus on animal rescue. We support local shelters through donations, volunteer work, and by promoting pet adoption and care.
Participating in community events and partnering with local businesses, we aim to embody Charleston’s giving spirit and make a meaningful impact for animals in need across the Lowcountry.
