$599,000 507 30th Ave South Atlantic Beach, SC

MLS: 1721839   Type: Multi-Family   County: Horry   City: Atlantic Beach   Area: North Myrtle Beach   Neighborhood: Not Within A Subdivision   Zip: 29582   Style: Apartments  

Mortgage $2,812 /mo



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This is a unique opportunity to own a great rental investment property. It’s return on investment is in the double digits and positive cash flows. This multi-family property is only 3 blocks from the beach and 2 blocks away from Baywatch Resort. This property consists of 3 masonry block buildings and 2 of the buildings are 2 stories and the 3rd is 1 story. There is a total of 18 units which consist of 6 efficiencies, 11 1-bedroom units, and 1 brand new 2 bedroom condo. The new 2 bedroom condo is on the second floor front of building with a large balcony to enjoy ocean views.. There is a central large courtyard for tenants to utilize. The roof was replaced in the beginning of 2017. There is an onsite landlord/maintenance person to collect rent and handle day to day operations. This is a very quiet complex and all units stay rented. Most are long term renters. Most rentals are from the local resorts and landscaping companies for their out of state employees. Owner will consider owner financing with sizable down payment. In the Master Plan Atlantic Beach has implemented to revitalize this area, this property would continue to be Mixed Use but reclassified as Mainstreet 1 (MS1). The intent of the MS1 District is to provide for pedestrian oriented low-density development. The setbacks are 10’, maximum height is 5 stories or 55’, whichever is less. If 18 units is not enough there is an option of buying Cabanas 2 which is 4 lots away and offers an additional 11 units!

Elementary School

Middle School

High School

Ocean Drive Elementary
Distance: 3.57 Miles
North Myrtle Beach
Distance: 4.47 Miles
North Myrtle Beach
Distance: 5.11 Miles

Price History

10/13/2017 Listed $599,000

#1 Br. Units 11
#2 Br. Units 1
Complex Name Cabanas
Efficiency 6
Hoa Calculated Monthly 0
Safety Features Smoke/Heat Detector, Lead Based Paint Disc.
Stipulation of Sale None
Subdivision Y/N Not within a Subdivision
Type Apartments
Utilities Cable TV, Electricity, Sewer, Telephone, Underground Utilities, Water Public

Interior Features

Covered Square Footage (Estimated) 4714
Heat/Air Conditioning Space Heater, Window/Wall Unit, Electric
Heated Area per Building (Estimated) 4714
Total Number of Units 18
Unit1 Efficiency, Range/Oven, Under 500 SqFt
Unit2 1 Bedroom, Refrigerator, Range/Oven, Under 500 SqFt
Unit3 2 Bedroom, 1 Bathroom, Refrigerator, Range/Oven, 501-750 SqFt

Exterior Features

Exterior Finish Wood Frame, Stucco
Foundation Slab
Lot Location East of Bus. 17, Outside City Limits, Second Row Other
Parking Other
Topography Rectangular

Property Schools

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Gallery (21 photos)

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Property vs Zip Code Avg (29582)

Price 599K Avg 617K

Sqr Feet 4,714 Avg 2,255

Cost / Sqr Ft $127 Avg $274

Visits 41 Avg 40

Days on Site 133 Avg 222

Walkscore® 36 Avg 31

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Listing Provided Courtesy Of: Century 21 The Harrelson Group

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Location & Address

Alan Kaplan
711 Fairview Street
Fountain Inn, SC