3 Cannon Street

In 2014, the partners at RRG oversaw the acquisition and renovation of this property.  Built in 1850, the house was constructed in the style of a Charleston single in which the house appears to be turned to the side so that the narrow end of the house is adjacent to the street while the porches face the driveway or yard.  This design not only enabled homeowners to reduce the width of lots, but also utilized the porches by providing much needed shade on the side of the house for the hot summers, which is why the porch of a Charleston single is always on the western or southern side of the house. 

While originally a single home, the house was later converted to serve as two apartments.  Though small in comparison to many of the grand homes south of Broad, 3 Cannon is typical of the Cannonborough neighborhood which was originally home to many immigrants and working class families of the bustling port city.  Today, this neighborhood is a vibrant part of the redeveloped mid-city district, with many boutique shops and restaurants sprinkled in among the many restored homes.   

After completing renovation work on the property, the partners managed 3 Cannon as a rent producing investment.  The downstairs unit was converted and leased as office space, while the upstairs remained a residence.  Originally leased as a long term rental, the partners quickly saw the benefit of a short term residential unit in this location and made the transition.  In 2016, after carefully analyzing the market conditions, the partners decided that the time was right to sell the property in order to pursue other projects.