NOT LISTED FOR SALE

Estimated Value: $125,000 - $633,000

3 Beds
1 Bath
8,920 Sq Ft
$39/Sq Ft Est. Value

Last Sold May 25, 2018

Last sale price $955,000 $107 Per Sq Ft

Current estimated payment $2,098/month

168 Days on Market

Highlights

  • Space Heater
  • Ocean Drive Elementary School Rated A
  • Rectangular Lot

About This Home

As of May 2018

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 4 masonry block buildings and 3 of the building are 2 stories and the 3rd is 1 story. There is a total of 29 unit which comprise of 11 efficiencies, 15 1-bedroom, and 3 2 bedroom units. 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.

Last Agent to Sell the Property

John Lindstrand

Century 21 The Harrelson Group License #58311 Listed on: 10/17/2017

Century 21 The Harrelson Group

Co-Listed By

Joseph E. Smith

Century 21 The Harrelson Group License #90656

Last Buyer's Agent

Jessica Bullard

BHHS Myrtle Beach Real Estate License #104344

BHHS Myrtle Beach Real Estate

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $2,248

Year Built

  • Built in 1941

Lot Details

  • Rectangular Lot

Home Design

  • 8,920 Sq Ft Home
  • Slab Foundation
  • Wood Frame Construction
  • Stucco

Location

  • East of US 17
  • Outside City Limits

Schools

  • Ocean Drive Elementary School
  • North Myrtle Beach Middle School
  • North Myrtle Beach High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Space Heater
  • Underground Utilities
  • Phone Available
  • Cable TV Available

Community Details

  • 29 Units
  • Cabanas 1 & 2 Condos

Property Details

Home Type

Apartment

Est. Annual Taxes

$2,248

Year Built

Built in 1941

Lot Details

0

Listing Details

  • Lot Description: Rectangular
  • Amenities Available: Long Term Rental Allowed, Owner Allowed Motorcycle, Short Term Rental Allowed, Tenant Allowed Motorcycle
  • Estimated Year Built: 1941
  • Class: Multi-Family
  • HOA Fee Frequency: Does Not Have Hoa
  • Lvt Date: 10/17/2017
  • Sold Total Heated Sq Ft: 8920
  • Sold Total Sq Ft: 8920
  • Total Heated Sq Ft: 8920
  • One Bedroom Rent Range: Rent roll in assoc docs
  • Two Bedroom Rent Range: Rent roll in assoc docs
  • Complex Name: Cabanas 1 & 2
  • Estimated Gross Scheduled Rent: 217,880
  • Estimated Operating Expense: 110,720
  • Number1 Br Units: 15
  • Number2 Br Units: 3
  • Numberefficiency: 11
  • Safety Features: Lead Based Paint Disc., Smoke/Heat Detector
  • Utilities Owner Pays: Electric, Trash, Water/Sewer
  • Section Subdivision: Not within a Subdivision
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1941

Interior Features

  • Total Sq Ft: 8920

Exterior Features

  • Exterior Finish: Stucco, Wood Frame
  • Foundation: Slab

Garage/Parking

  • Type: Apartments

Utilities

  • Utilities Available: Cable Tv, Electricity, Sewer, Telephone, Underground Utilities, Water Public
  • Heating Cooling: Electric, Space Heater, Window/Wall Unit

Schools

  • Elementary School: Ocean Drive Elementary
  • Middle School: North Myrtle Beach Middle School
  • High School: North Myrtle Beach High School

Lot Info

  • Lot Location: East Of Bus. 17, Outside City Limits, Second Row Other
  • Zoning: R4

Multi Family

  • Number Of Units: 29
  • Efficiency Rent Range: Rent roll in assoc docs

MLS Schools

  • Elementary School: Ocean Drive Elementary
  • HighSchool: North Myrtle Beach High School
  • Middle School: North Myrtle Beach Middle School

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 21, 2021
Sold by
Gwbd Llc
Bought by
Oaoa Llc
Current Estimated Value
$350,775

Purchase Details

Closed on
Oct 2, 2008
Sold by
Oconnell David
Bought by
Breunig Amy
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Oaoa Llc $116,000 --
Breunig Amy $90,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Amos Mary R $10,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/25/2018 05/25/18 Sold $955,000 -4.4% $107 / Sq Ft
10/17/2017 10/17/17 For Sale $999,000 -- $112 / Sq Ft
Source: Coastal Carolinas Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $2,248 $5,865 $4,722 $1,143
2023 $2,248 $5,865 $4,722 $1,143
2021 $2,043 $6,768 $4,722 $2,046
2020 $1,711 $6,729 $3,148 $3,581
2019 $1,711 $6,729 $3,148 $3,581
2018 $0 $4,050 $3,000 $1,050
2017 $1,515 $4,050 $3,000 $1,050
2016 -- $4,050 $3,000 $1,050
2015 $1,515 $3,400 $3,000 $1,050
2014 $1,478 $3,400 $3,000 $1,050
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: Coastal Carolinas Association of REALTORS®

MLS Number: 1722103

Coastal Carolinas Association of REALTORS®

APN: 39201010078