Listing Courtesy of: Mike Green - Coastal Vision Properties LLC 843-945-5095
$1,750,000 affordable loan icon Calculate Payment

505 28th Ave. N Myrtle Beach, SC 29577

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Apartment Residence
Beds
Baths
6,226 Sq. Ft.

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Last updated on 11/15/2024 7:57 PM
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 apartme...nts, 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. Continue reading
MLS#
2413448
Property Type
Apartment
Year Built
1966
Square Feet
6,226 sq. ft

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Listing Courtesy of: Mike Green - Coastal Vision Properties LLC 843-945-5095
Andrea Conner, License 102111, Xome Inc., License 19633, [email protected], 844-400-9663, 750 State Highway 121 Bypass, Suite 100, Lewisville, TX 75067

Provided courtesy of the Coastal Carolinas MLS. Copyright 2024 of the Coastal Carolinas MLS. All rights reserved. Information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Coastal Carolinas MLS.
This content last refreshed on 11/15/2024 7:57 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.
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