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Multifamily

Yachtsman

1304 N Ocean Blvd, Myrtle Beach, SC 29577

Listing Price: $22,260,000

Cap Rate
7.55%
Number of Units
159
GRM
6.10
Occupancy
96.0%
Price/Unit
$140,000
Price/Gross SF
$276.20
Gross SF
80,593

Investment Overview

Marcus & Millichap is pleased to present the Yachtsman, located in Myrtle Beach, South Carolina. The subject property comprises 159 units, featuring one- and two-bedroom options. Property amenities include a balcony, pool, high-speed internet access, patio, on-site bar, direct beach access, public Wi-Fi, smoke-free environment, hot tub, fully-equipped kitchen, and multi-room suites. The property was previously operated as a timeshare and hotel. The ownership is obtaining long-term lease permits, providing a new owner with the opportunity to operate under long-term leases.

Myrtle Beach, South Carolina, is a vibrant coastal city renowned for its stunning beaches, warm climate, and bustling attractions. The beautiful sandy beaches are a highlight, attracting tourists and locals alike. Beyond the beaches, the area offers a myriad of entertainment options, including amusement parks, golf courses, shopping centers like Broadway at the Beach, and various entertainment venues. Overall, Myrtle Beach combines natural beauty, diverse entertainment options, and economic vitality to provide residents and visitors with a multifaceted coastal experience.

Myrtle Beach presents a dynamic market with a diverse economy primarily driven by tourism, hospitality, and real estate. Ongoing efforts to diversify the economy beyond tourism include a focus on expanding industries such as technology, healthcare services, and education to create a more balanced economic landscape. The real estate sector plays a significant role in Myrtle Beach’s economy, fueled by both residential and commercial developments. The housing market has experienced growth in recent years, with a mix of retirees, second-home buyers, and investors contributing to the demand for properties.

Investment Highlights

  • 20 2 Bedroom / 2 Bath Units 813 SF
  • 40 1 Bedroom / 1 Bath Units 610 SF
  • 30 1 Bedroom / 1 Bathroom Units 395 SF
  • 69 Studio Units 407 SF
  • Located 1.8 Miles from Broadway at the Beach
  • Located 4.4 miles from the Myrtle Beach International Airport
  • Located on the Beach

Exclusively Listed By

Financing By

Listing Price: $22,260,000

Cap Rate
7.55%
Number of Units
159
GRM
6.10
Occupancy
96.0%
Price/Unit
$140,000
Price/Gross SF
$276.20
Gross SF
80,593

Investment Highlights

  • 20 2 Bedroom / 2 Bath Units 813 SF
  • 40 1 Bedroom / 1 Bath Units 610 SF
  • 30 1 Bedroom / 1 Bathroom Units 395 SF
  • 69 Studio Units 407 SF
  • Located 1.8 Miles from Broadway at the Beach
  • Located 4.4 miles from the Myrtle Beach International Airport
  • Located on the Beach

Investment Overview

Marcus & Millichap is pleased to present the Yachtsman, located in Myrtle Beach, South Carolina. The subject property comprises 159 units, featuring one- and two-bedroom options. Property amenities include a balcony, pool, high-speed internet access, patio, on-site bar, direct beach access, public Wi-Fi, smoke-free environment, hot tub, fully-equipped kitchen, and multi-room suites. The property was previously operated as a timeshare and hotel. The ownership is obtaining long-term lease permits, providing a new owner with the opportunity to operate under long-term leases. Myrtle Beach, South Carolina, is a vibrant coastal city renowned for its stunning beaches, warm climate, and bustling attractions. The beautiful sandy beaches are a highlight, attracting tourists and locals alike. Beyond the beaches, the area offers a myriad of entertainment options, including amusement parks, golf courses, shopping centers like Broadway at the Beach, and various entertainment venues. Overall, Myrtle Beach combines natural beauty, diverse entertainment options, and economic vitality to provide residents and visitors with a multifaceted coastal experience. Myrtle Beach presents a dynamic market with a diverse economy primarily driven by tourism, hospitality, and real estate. Ongoing efforts to diversify the economy beyond tourism include a focus on expanding industries such as technology, healthcare services, and education to create a more balanced economic landscape. The real estate sector plays a significant role in Myrtle Beach’s economy, fueled by both residential and commercial developments. The housing market has experienced growth in recent years, with a mix of retirees, second-home buyers, and investors contributing to the demand for properties.

Exclusively Listed By

Financing By

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