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.
Listing courtesy of at Coastal Vision Properties LLCProperty Details
Price:
$1,750,000
MLS #:
2413448
Status:
Active
Beds:
0
Baths:
0
Address:
505 28th Ave. N
Type:
Single Family
Subtype:
Apartment
Subdivision:
Not within a Subdivision
City:
Myrtle Beach
Listed Date:
Jun 4, 2024
State:
SC
Finished Sq Ft:
6,226
ZIP:
29577
Year Built:
1966
Schools
Elementary School:
Myrtle Beach Elementary School
Middle School:
Myrtle Beach Middle School
High School:
Myrtle Beach High School
Interior
Exterior
Community Features
Laundry Facilities, Long Term Rental Allowed, Short Term Rental Allowed
Financial
HOA Frequency
Monthly
Map
Community
- Address505 28th Ave. N Myrtle Beach SC
- CityMyrtle Beach
- CountyHorry
- Zip Code29577
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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.
505 28th Ave. N
Myrtle Beach, SC
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