505 28th Ave. N
Myrtle Beach, SC 29577
- – beds
- – baths
- 6,226 sqft
- $281 per sqft
- 1966 build
- – on site
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.
Last checked:
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Last updated Jan 22, 2025
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MLS# 2413448 —
The Building
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Year Built:1966
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Building Area Total:6226.0
Room Dimensions
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Living Area:6226.0
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Living Area Source:PublicRecords
Financial & Terms
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Listing Terms:Cash,Conventional
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Lease Considered:false
Location
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Latitude:33.70868681
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Longitude:-78.86560293
The Property
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Property Type:Residential
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Property Subtype:Apartment
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Property Subtype Additional:Apartment,MultiFamily
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Property Condition:Resale
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Parcel Number:42411010019
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Zoning:HC-2
Listing Agent
- Contact info:
- Agent phone:
- (843) 855-1816
- Office phone:
- (843) 945-5095
The Listing
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Possession:Closing
Utilities
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Utilities:CableAvailable,ElectricityAvailable,PhoneAvailable,SewerAvailable,WaterAvailable
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Water Source:Public
Schools
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Elementary School:Myrtle Beach Elementary School
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Middle Or Junior School:Myrtle Beach Middle School
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High School:Myrtle Beach High School
The Community
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Subdivision Name:Not within a Subdivision
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Community Features:LaundryFacilities,LongTermRentalAllowed,ShortTermRentalAllowed
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Association:false
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Association Amenities:Laundry,OwnerAllowedMotorcycle,PetRestrictions,TenantAllowedMotorcycle
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Association Fee Frequency:Monthly
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Pets Allowed:OwnerOnly,Yes
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/7/24
Nov 7, 2024
|
Listed / Active | CCAR | $1,750,000 | |
|
9/26/24
Sep 26, 2024
|
Sold Subject To Contingencies | CCAR | $1,750,000 | |
|
8/6/24
Aug 6, 2024
|
Price Changed | CCAR | $1,750,000 | -12.1% |
