5 months on rocket

505 28th Ave N, Myrtle Beach, SC, 29577

$1,750,000

Home List Price

$10,000*

Closing Credit

0 Baths
6,226 SqFt
$281/SqFt
Condo

Location

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505 28th Ave N, Myrtle Beach$1,750,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
Year Built1966
MLS #2413448
StatusActive

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.

Property Details

Property Features

Property Information:

  • Year Built: 1966
  • Living Area: 6,226 SqFt

Listing Office:

  • Office Name: Coastal Vision Properties LLC
  • Office Phone: (843) 945-5095

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,750,000
  • Price Per SqFt: $281/SqFt

HOA Fees:

  • Amount: $0
  • Frequency: Monthly
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Housing Market Comparison

See how this home compares to others in Myrtle Beach, SC.

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Myrtle Beach, SC

City

Med. Sold Price

$322K

Med. Price/SqFt

$212

Avg. Days On Market

116

# of Sold Homes

353

505 28th Ave N vs Myrtle Beach

166 DAYS ON ROCKET

+50 Days

$1,750,000

+$1.4M More

$281/SqFt

+$68 More

KEY TAKEAWAY

This property is $1.4M more than the Median Sold Price and $68/SqFt more than other homes in Myrtle Beach, SC.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CCAR
  • MLS Number: #2413448

Listing Office:

  • Office Name: Coastal Vision Properties LLC
  • Office Phone: (843) 945-5095

IDX Provided courtesy of © Copyright 2024 Coastal Carolinas Multiple Listing Service, Inc.®. Information Deemed Reliable but Not Guaranteed. © Copyright 2024 Coastal Carolinas Multiple Listing Service, Inc.® MLS. All rights reserved. Information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Images related to data from the MLS is the sole property of the MLS and not the responsibility of the owner of this website. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes name of the listing brokers. Any images related to data from the MLS is the sole property of the MLS and not the responsibility of the owner of this website.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/25/2024, 8:20:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$8,802

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$5,313

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-1313734
3
/10

  • Myrtle Beach Elementary School

  • 690 33rd Ave N

  • 0.71 miles

  • Public District Grades 3-5

school-card-donut-1313735
7
/10

  • River Oaks Elementary School

  • 700 Augusta Plantation Dr

  • 3.25 miles

  • Public District Grades PK-5

school-card-donut-1313736
9
/10

  • Ocean Bay Elementary School

  • 950 International Dr

  • 4.12 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $35,963. Most Myrtle Beach, SC residents have annual incomes less than $35k. Most families are single, no kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Living In Myrtle Beach, SC

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

Types of housing in Myrtle Beach, SC.

Myrtle Beach offers a dynamic housing market with a mix of residential options to suit various preferences and budgets. The housing landscape is characterized by a blend of single-family homes, condominiums, and townhouses, with a noticeable presence of beachfront properties that highlight the coastal lifestyle. Architectural styles range from contemporary to traditional beach house designs, reflecting the area's resort-town atmosphere. The market is diverse, with a significant portion of properties serving as vacation homes or investment opportunities.

What is it like to live in Myrtle Beach, SC?

Myrtle Beach is celebrated for its vibrant community spirit and leisurely pace of life, with the oceanfront serving as the heart of the city's social and cultural activities. The area prides itself on being a family-friendly destination, offering a plethora of attractions such as amusement parks, live entertainment, and annual festivals that showcase local talent and cuisine. The community's character is further enriched by its scenic boardwalk, pristine beaches, and well-maintained public spaces that encourage outdoor living and recreation.

Is it easy to get around Myrtle Beach, SC without a car?

The community is served by a network of public services that cater to the needs of residents and visitors alike. Educational opportunities are available through a selection of public and private schools, with a focus on both academic and extracurricular development. Healthcare services are accessible via local clinics and regional hospitals that provide a range of medical care. Retail and dining options abound, offering everything from casual eateries to upscale dining experiences, many of which feature fresh, local seafood. The city is also proactive in enhancing services to accommodate its growing population and tourism industry.

Transportation in Myrtle Beach, SC.

Transportation in Myrtle Beach is facilitated by a series of major roadways, including Highway 17, which provides access to various parts of the city and neighboring areas. Public transit options are available, with bus services connecting key locations throughout the city. The area is moderately walkable, particularly around the boardwalk and central business district, where residents and tourists can enjoy easy access to shops, restaurants, and attractions. Bike paths and lanes are also present, promoting a bike-friendly environment. Ride-sharing services are operational in the area, complementing the existing transportation infrastructure.

Frequently Asked Questions About 505 28th Ave N

What is the listing price of this property?

The listing price of 505 28th Ave N property is $1,750,000.

What type of property is this?

The property 505 28th Ave N is a condo located in Myrtle Beach, South Carolina, 29577.

Is this property for sale now?

Active Listing: 505 28th Ave N is For Sale (Active/New) which means the seller is accepting offers.

What is the square footage of this property?

The property 505 28th Ave N is 6,226 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 505 28th Ave N is 1966.

Rocket Homes›South Carolina›Horry County›Myrtle Beach›29577›505 28th Ave N

This home is located at 505 28th Ave N in Myrtle Beach, SC and zip code 29577. This 6,226 square foot home was built in 1966. It has been listed on Rocket Homes since June 11, 2024 and is currently priced at $1,750,000.

Myrtle Beach, SC housing market in October 2024 saw over 16 listings sold above listed price, more than 63 sold at listed price and over 274 sold below. In October 2024 in Myrtle Beach, SC there were 3% more homes for sale than in September 2024. Listings spent 116 days on the market in October 2024, and had a median list price of $322,035 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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