If you're looking for a fabulous island residence with income earning potential on iconic Folly Beach, look no further than the lowest price per sq ft home on the island. This 3,000 square foot beach cottage was constructed in 1980 and has been updated with a brand-new architectural shingle roof and sleek grey laminate floors throughout. The two story, wood frame house is situated in a grove of mature palmetto and live oak trees, set far back on the street on a permeable gravel driveway. 504 W. Ashley is a quintessential beach cottage with sun swept interiors and loads of amenities for the best of island living. A front porch spans the whole facade, and a lattice enclosed, covered side porch houses a grilling area for the first floor. Above, the second story features sunroom and largedec k and side porch. The first and second floor of the house function as separate units with full kitchens, allowing the new buyer to mid term rent, long term rent, or utilize as an owner occupied residence while offsetting carrying costs. Both stories have great natural light, soft grey walls, and traditional style trim work. Enter from the front porch into the first story's inviting foyer and spacious open floor plan living room. Across the hall is the cute eat-in kitchen with crisp white cabinetry, a breakfast bar, and shiplap walls. There are 3 large bedrooms with closets and built-in shelving. The principal bedroom has a private bath and walk in closet. Two other bedrooms are connected to create a family suite. The first floor has an additional shared bathroom and a utility closet/laundry room. The bathrooms been recently updated with cast stone topped vanities, marble tiled backsplashes, a subway tiled shower in one and a new built in shower stall in the other, and shiplap accent walls. The second floor has a sunroom with beadboard walls and ceiling that opens into large open plan with a full dining room and large seating area that are perfect for family beach getaways and entertaining. The full kitchen has white cabinetry, new countertops, and windows overlooking the side yard. This floor has 3 bedrooms and 3 bathrooms. The principal bedroom connects ensuite to a large bathroom with a walk-in shower and laundry facilities. Another has direct access to the upstairs screened porch. The sunny backyard has an outdoor shower, stone-paved sun lounging patio, and lovely local plantings, beyond which is a shaded lawn for playing cornhole. The massive second story screened in porch and side deck, which has a large seating area and an elevated hot tub section, offers views of the Atlantic Ocean and beach front. 504 W. Ashley is situated on a quiet residential street that was first laid out in 1920, just a block from the beach and breathtaking tidal marshes. This part of the island is rich in history, and the famous Porgy house, where Dubose Heyward and Ira Gershwin wrote the opera Porgy and Bess, is just a few houses down the street. 504 W. Ashley is a short walk to Folly Beach County Park, Sunset Cay Marina, and several public beach access points. It's also just a few blocks from the famous boardwalk and fishing pier and from bustling Center Street's restaurants and pubs. The Folly River Boat Ramp is also nearby, so 504 W. Ashley truly brings you close to every one of the island's best features and beach vibes.