505 28th Ave. N , Myrtle Beach, SC 29577
Myrtle Beach, SC 29577
Description
Investment Property with Steady Income: 19-Unit Studio Apartment Building in Myrtle Beach Address: 505 28th Ave N, Myrtle Beach, SC 29577 Welcome to an exceptional investment opportunity located in the vibrant community of Myrtle Beach. This 19-unit apartment building, featuring all studio apartments, offers a reliable income stream and the potential for future growth. Property Highlights: Unit Configuration: All 19 units are studio apartments, thoughtfully designed for efficient living. Note that the studios do not include stoves. Occupancy Status: The property maintains a high occupancy rate with 5 units currently vacant and 2 of these units already rented for June, ensuring continued cash flow. On-Site Amenities: A convenient laundry room with 4 machines provides additional income potential and convenience for residents. Community and Tenant Profile: A significant number of residents are veterans benefiting from housing assistance programs, ensuring rent and stability in occupancy. This loyal tenant base contributes to a reliable and predictable income stream, reducing the risks commonly associated with rental properties. Investment Potential: This property is perfectly positioned to capitalize on Myrtle Beach's high demand for affordable housing. The recent rent increase demonstrates the potential for revenue growth, with room for further adjustments in the future. The steady income from veteran tenants and the robust local rental market make this a compelling investment opportunity. Location Benefits: Close proximity to Myrtle Beach's beautiful beaches. Nearby access to shopping, dining, and entertainment options. Excellent connectivity to public transportation and major highways. Don’t miss out on this prime investment in one of South Carolina’s most desirable locations.
Details
| MLS# | 2413448 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1966 |
| Days On Site | 130 |
| Listing Provided By | Coastal Vision Properties LLC | Mike Green |
Features
| N/A | 6,226 |
|---|---|
| Units | 19 |
| Zoning | HC-2 |
Market Activity 29577
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Learn More About This Property
| State | SC |
|---|---|
| County | Horry |
| City | Myrtle Beach |
| Zip Code | 29577 |
| Area | 16F Myrtle Beach Area 10th Ave N to 29th Ave N |
| Community Name | Not within a Subdivision |
| Listing VS Median (in Not within a Subdivision) | |
Price: $1,750,000 low | high Med: $339,000 SqFt: 6,226 low | high Med: 1,440 $ / SqFt: $281 low | high Med: $235 On Site: 130 low | high Med: 3.000000 | |