Homes for sale - 505 28th Ave. N, Myrtle Beach, SC 29577

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 6,226 sqft

Price per Sqft $280

Subdivision Not Within A Subdivision

MLS Listing ID 2413448

Year Built 1966

Property Sub-Type Apartment

Property 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.

Location

State SC

County Horry

Community Not Within A Subdivision

Area 16F Myrtle Beach Area--10Th Ave N To 29Th Ave N

Building/Complex Name Casa Marina

Zoning HC-2

Exterior

Community Features Laundry Facilities,Long Term Rental Allowed,Short Term Rental Allowed

Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Available, Water Available

Amenities Available Laundry,Owner Allowed Motorcycle,Pet Restrictions,Tenant Allowed Motorcycle

Building

Water Public

Schools

Elementary Schools Myrtle Beach Elementary School

Middle Schools Myrtle Beach Middle School

High Schools Myrtle Beach High School

Others

Acceptable Financing Cash,Conventional

Listing Terms Cash,Conventional

Special Listing Condition None

Pets Allowed Owner Only, Yes