About 505 28th Ave. N
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.
Features of 505 28th Ave. N
| MLS® # | 2413448 |
|---|---|
| Price | $1,745,000 |
| Bathrooms | 0.00 |
| Square Footage | 6,226 |
| Acres | 0.00 |
| Year Built | 1966 |
| Type | Residential |
| Sub-Type | Apartment |
| Status | Active |
Community Information
| Address | 505 28th Ave. N |
|---|---|
| Area | 16F Myrtle Beach Area--10th Ave N to 29th Ave N |
| Subdivision | Not within a Subdivision |
| City | Myrtle Beach |
| County | Horry |
| State | SC |
| Zip Code | 29577 |
Amenities
| Amenities | Owner Allowed Motorcycle, Pet Restrictions, Tenant Allowed Motorcycle, Laundry |
|---|---|
| Utilities | Cable Available, Electricity Available, Phone Available, Sewer Available, Water Available |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|---|
| Has Basement | No |
School Information
| Elementary | Myrtle Beach Elementary School |
|---|---|
| Middle | Myrtle Beach Middle School |
| High | Myrtle Beach High School |
Additional Information
| Days on Website | 318 |
|---|---|
| Zoning | HC-2 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Coastal Vision Properties LLC |
|---|