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Multifamily

Palm Court

600 Chester St, Myrtle Beach, SC 29577

Listing Price: $5,200,000

Cap Rate
12.86%
Number of Units
42
Occupancy
95.0%
Price/Unit
$123,810

Investment Overview

Marcus and Millichap are pleased to present Palm Court, in Downtown Myrtle Beach. This is a 42-unit property at 600 Chester Street just one block from the beach. All units are 400 SF, one bedroom and one bathroom. The property is currently vacant which will give investors the opportunity to immediately renovate the property and add value. The subject property can be operated as an apartment with long-term or short-term leases, an Airbnb or VRBO, or as operating Motel. In the past similar properties have been most successful with an Airbnb/VRBO motel. With a renovation we project each unit will generate $2,000 a month with an Airbnb/VRBO operation. This is assuming each unit will be occupied 20 days out of each month. This is a great opportunity close to the beach in the most popular area of Myrtle Beach, SC.

Investment Highlights

  • One block from beach
  • Two miles Broadway at the Beach
  • Less than a mile from Downtown Myrtle Beach and the board walk

Exclusively Listed By

Listing Price: $5,200,000

Cap Rate
12.86%
Number of Units
42
Occupancy
95.0%
Price/Unit
$123,810

Investment Highlights

  • One block from beach
  • Two miles Broadway at the Beach
  • Less than a mile from Downtown Myrtle Beach and the board walk

Investment Overview

Marcus and Millichap are pleased to present Palm Court, in Downtown Myrtle Beach. This is a 42-unit property at 600 Chester Street just one block from the beach. All units are 400 SF, one bedroom and one bathroom. The property is currently vacant which will give investors the opportunity to immediately renovate the property and add value. The subject property can be operated as an apartment with long-term or short-term leases, an Airbnb or VRBO, or as operating Motel. In the past similar properties have been most successful with an Airbnb/VRBO motel. With a renovation we project each unit will generate $2,000 a month with an Airbnb/VRBO operation. This is assuming each unit will be occupied 20 days out of each month. This is a great opportunity close to the beach in the most popular area of Myrtle Beach, SC.

Exclusively Listed By

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