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Multifamily

Budget Inn

501 N Ocean Blvd, Myrtle Beach, SC 29577

Listing Price: $3,250,000

Cap Rate
7.64%
Number of Units
25
Price/Unit
$130,000
Price/Gross SF
$312.38
Gross SF
10,404

Investment Overview

Marcus and Millichap are pleased to present the Budget Inn located at 501 N Ocean Boulevard, Myrtle Beach, SC. Recently renovated in 2022-2023, the subject property consists of twenty-five 200 SF units one block from the beach in the downtown area of Myrtle Beach. In the past, the property has operated as an Airbnb and can be converted to long term rents or continue with short term. The property has a pool and laundry facility onsite. The Budget Inn gives tenants or guests easy access to the beach, shops, and restaurants. In the past, owners have operated similar properties as Airbnb in the Spring and Summer months and long term in the Fall and Winter. The property is located only 2.5 miles from Broadway at the Beach and .2 miles from the Myrtle Beach Boardwalk. The list ranks cities by net migration for each metro area, measured by growth or decline in population over the last five years. Tripadvisor rated Myrtle Beach as the 3rd most popular summer destination and GolfPass ranked Myrtle Beach as the world’s 13th best golf destination. Budget Inn presents investors with an opportunity to capitalize on the large demand generators Myrtle Beach has to offer.

Investment Highlights

  • Recently renovated in 2022-2023
  • Located one block from the Beach
  • Pool and Laundry Facility

Exclusively Listed By

Listing Price: $3,250,000

Cap Rate
7.64%
Number of Units
25
Price/Unit
$130,000
Price/Gross SF
$312.38
Gross SF
10,404

Investment Highlights

  • Recently renovated in 2022-2023
  • Located one block from the Beach
  • Pool and Laundry Facility

Investment Overview

Marcus and Millichap are pleased to present the Budget Inn located at 501 N Ocean Boulevard, Myrtle Beach, SC. Recently renovated in 2022-2023, the subject property consists of twenty-five 200 SF units one block from the beach in the downtown area of Myrtle Beach. In the past, the property has operated as an Airbnb and can be converted to long term rents or continue with short term. The property has a pool and laundry facility onsite. The Budget Inn gives tenants or guests easy access to the beach, shops, and restaurants. In the past, owners have operated similar properties as Airbnb in the Spring and Summer months and long term in the Fall and Winter. The property is located only 2.5 miles from Broadway at the Beach and .2 miles from the Myrtle Beach Boardwalk. The list ranks cities by net migration for each metro area, measured by growth or decline in population over the last five years. Tripadvisor rated Myrtle Beach as the 3rd most popular summer destination and GolfPass ranked Myrtle Beach as the world’s 13th best golf destination. Budget Inn presents investors with an opportunity to capitalize on the large demand generators Myrtle Beach has to offer.

Exclusively Listed By

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