2010 S Ocean Blvd - Hospitality FOR SALE


Myrtle Beach, SC 29577
$7,250,000 USD
843-222-6357
2010 S Ocean Blvd, Myrtle Beach, SC for Sale
$7,250,000 USD
Hospitality - FOR SALE
1/18
null | Request Cap Rate

2010 S Ocean Blvd
Myrtle Beach, SC 29577


HIGHLIGHTS

  • Prime investment property high traffic area
  • Completely renovated and converted into a multifamily property in 2023-2024
  • Turnkey investment in a prime coastal location

OVERVIEW

Presenting an exceptional investment opportunity at 2010 S. Ocean Blvd, Myrtle Beach, SC 29577—a fully renovated 67-unit multifamily property situated directly on Ocean Boulevard. Occupying a prominent corner lot, this offering includes an additional parcel currently utilized as a parking lot, totaling approximately 0.70 acres in one of Myrtle Beach's most desirable markets, just steps away from the Atlantic Ocean. The property offers One bedroom units and Studio units. Comprehensive Renovations (2023-2024): Plumbing: Installation of new PEX water lines throughout the building. Fire Safety: Implementation of a new sprinkler system and fire alarm installation; servicing of all standpipes with AAA Fire Protection. Interior Upgrades: Drywall and interior painting; replacement of kitchen cabinets and countertops in most units; installation of new PTAC AC units. Exterior Enhancements: Exterior painting and stucco. Mechanical Systems: Elevator repairs by Calvinder Elevator company, installation of a new 120-gallon boiler. Parking & Landscaping: Development of a new parking lot on Cassandra Lane; landscaping completed per City of Myrtle Beach approved plans. Appliances: Upgraded appliances throughout the units. This property represents a turnkey investment in a prime coastal location, offering significant recent upgrades. This is one of only a few Multifamily buildings allowed on Ocean Blvd.

FOR SALE DETAILS

PRICE

$7,250,000 USD

PRICE/SF

$192 USD /SF

# OF ROOMS

60

PRICE/ROOM

$120,833 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ocean Breeze Hotel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

5

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1968

PARKING SPACES

70

LAND DETAILS

LAND ACRES

0.7 AC

LAND SF

30,492 SF

ZONING

TA120

APN/PARCEL ID

44315040077,44502020322

ASK ABOUT THIS PROPERTY

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843-222-6357

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Liat EdriRealty One Group DocksideMore Info
843-222-6357

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.