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Lake View Villas II 604 5th Ave S 8 Unit Apartment Building $2,399,000 ($299,875/Unit) Myrtle Beach, SC 29577
INVESTMENT HIGHLIGHTS
- 5 Minutes to the Atlantic Ocean
- High End Finishes
- Excellent area for secondary/retirement/first time home buyers.
- Newly Constructed 2024
- Great Rental Values in the area.
- Golf Carts Allowed!
EXECUTIVE SUMMARY
Excellent Investment Opportunity! Lake View Villas, this building is comprised of EIGHT 3-bedroom, 2-bathroom condos nestled in the Myrtle Beach area. Building was completed in 2024. Boasting breathtaking withers marsh views right behind the building, these high class new construction condos are a step above the rest. Rent ranges and location make this opportunity feasible. The kitchen is a chef's delight, featuring stainless steel appliances, granite countertops, and soft-close cabinets, creating a seamless blend of style and functionality. Graciously sized bedrooms offer extra comfort, crown molding throughout adds a touch of elegance to the space, while oversized balconies provide the perfect vantage point for enjoying the gorgeous surroundings. Embrace the convenience of beach living with access to the ocean within just 5 minutes. This thoughtfully crafted condo complex not only promises a lifestyle of comfort and sophistication but affordability. Seize the opportunity to make this haven yours and enjoy in the benefits of investing at the beach! Land will will be subdivided to suite the building when under contract.
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,399,000 | Building Class | B |
| Price Per Unit | $299,875 | Lot Size | 1.95 AC |
| Sale Type | Investment | Building Size | 9,600 SF |
| No. Units | 8 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2024 |
| Apartment Style | Low-Rise | ||
| Zoning | RES - Residential | ||
| Price | $2,399,000 |
| Price Per Unit | $299,875 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.95 AC |
| Building Size | 9,600 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 2024 |
| Zoning | RES - Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 8 | $2,500 | 1,200 |
1 1
Walk Score®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 44306030057 | Total Assessment | $37,989 |
| Land Assessment | $37,989 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
44306030057
Land Assessment
$37,989
Improvements Assessment
$0
Total Assessment
$37,989
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Presented by
Keller Williams The Forturro Group
Lake View Villas II | 604 5th Ave S
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