Five-Unit Oceanfront Rental
For Sale
$2,285,000
2007 S Ocean Blvd., Myrtle Beach, SC 29577
Furnished condominium residences with private balconies, resort amenities, and lockout flexibility for select larger floor plans.
Property Size7,446 SF
Price / SF$306.88
Days on Market51
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Property Features for 2007 S Ocean Blvd.
General Information
Standard status
Active
Size
7,446 SF
Property subtype
Multi-Family
Building Details
Year Built
2006
Listing Agency:
Realty ONE Group Dockside
Listed By:
Liat Edri · License #6170
(843) 222-6357
Source:
Surfsiderealtysales
Added: Aug 26
Changed: Oct 7
Last Checked: Oct 14 at 8:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty ONE Group Dockside
Investment Insights
Based on property information with market context.
This five-condominium short-term rental portfolio at The Grand Atlantic Resort includes three four-bedroom, three-bath residences and two two-bedroom, two-bath residences. Units 1207, 701, and 907 measure approximately 1,800 square feet each and include oceanfront balconies, full kitchens, furnishings, and a lockout arrangement with a separate fourth bedroom, bathroom, side-view balcony, and connecting door. Units 904 and 905 are each approximately 1,050 square feet, positioned on the ninth floor, and provide two bedrooms, two full bathrooms, furnished interiors, full kitchens, private oceanfront balconies, and in-unit washers and dryers.
Resort amenities include indoor and outdoor heated pools, an oceanfront pool, kiddie pools, a lazy river, hot tub, fitness center, arcade and game room, restaurant, ice cream shop, convenience store, meeting room, covered parking, and on-premises management. Enclosed climate-controlled corridors serve the resort. The property is located at 2007 S. Ocean Blvd. in Myrtle Beach, near restaurants, shopping, golf, entertainment, Broadway at the Beach, and Market Common.
Resort amenities include indoor and outdoor heated pools, an oceanfront pool, kiddie pools, a lazy river, hot tub, fitness center, arcade and game room, restaurant, ice cream shop, convenience store, meeting room, covered parking, and on-premises management. Enclosed climate-controlled corridors serve the resort. The property is located at 2007 S. Ocean Blvd. in Myrtle Beach, near restaurants, shopping, golf, entertainment, Broadway at the Beach, and Market Common.
Key Highlights
- Five condominiums: three 4‑bedroom, 3‑bath units and two 2‑bedroom, 2‑bath units
- Units 1207, 701, and 907 are approximately 1,800 square feet each
- Units 904 and 905 are approximately 1,050 square feet each on the 9th floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,736
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,374,720
$1.4M
Cap Rate 7%
$981,943
$981.9K
Cap Rate 9%
$763,733
$763.7K
Market Conditions
NOI Build-Up for 7,446 SF
Gross rent
$130.5K $17.52/SF
− Vacancy
−$5.5K −$0.74/SF
EGI
$125.0K $16.78/SF
− OpEx
−$56.2K −$7.55/SF
NOI
$68.7K $9.23/SF
Area
Horry County, SC
Vacancy
4.20%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,374,720
Cap Rate 7%
$981,943
Cap Rate 9%
$763,733
Alternative Uses
Best Use
Apartment 5plus
$981.9K
$859.2K – $1.15M
NOI $68,736 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,098 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 29577, SC
34,109
Population
22,630
Households
1.5
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
22.8 sq mi
ZIP Area
1,496
Density / Sq Mi
$48,561
Median Household Income
$33,591
Median Earnings
$1,130
Median Rent
$273,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Furnished condominium residences with private balconies, resort amenities, and lockout flexibility for select larger floor plans.
Where is this short term rental property located?
The property is located at 2007 S Ocean Blvd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $2,285,000.
What are key features of this property?
This property features: Five condominiums: three 4‑bedroom, 3‑bath units and two 2‑bedroom, 2‑bath units; Units 1207, 701, and 907 are approximately 1,800 square feet each; Units 904 and 905 are approximately 1,050 square feet each on the 9th floor
