Oceanfront Lockout Condominium
For Sale
$1,100,000
2201 S Ocean Blvd., Myrtle Beach, SC 29577
Two furnished oceanfront residences offer flexible layouts, private balconies, and access to extensive resort amenities.
Property Size3,602 SF
Price / SF$305.39
Days on Market51
Property Features for 2201 S Ocean Blvd.
General Information
Standard status
Active
Size
3,602 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 4BR/3BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
indoor pool
outdoor pool
kiddie pool
lazy river
hot tub/spa
fitness center
on-site restaurant
Tiki Bar
private oceanfront balcony
washer/dryer
Building Details
Year Built
2006
Listing Agency:
Realty ONE Group Dockside
Listed By:
Liat Edri · License #6170
(843) 222-6357
Source:
Costacoastalproperties
Added: Aug 26
Changed: Oct 3
Last Checked: Oct 14 at 8:21PM
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
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Investment Insights
Based on property information with market context.
This offering includes two direct oceanfront condominium units at Paradise Resort, identified as Unit 801/802 and Unit 1601/1602. The residences were built in 2006 and together provide 3,602 square feet. Each features a lockout design that can function as a 4-bedroom, 3-bath configuration or as a 3-bedroom, 2-bath residence with a separate efficiency and 1-bath lockout. Interior improvements include remodeled finishes, granite countertops, full kitchens, ceramic tile flooring, furnishings, appliances, washer/dryer, and housewares. Private oceanfront balconies extend the living area toward the Atlantic.
Property amenities include indoor and outdoor pools, a kiddie pool, lazy river, hot tub/spa, fitness center, on-site restaurant, and Tiki Bar. The property is located at 2201 S Ocean Blvd. in Myrtle Beach, South Carolina, near Market Common, shopping, dining, golf, entertainment, and Grand Strand attractions.
Property amenities include indoor and outdoor pools, a kiddie pool, lazy river, hot tub/spa, fitness center, on-site restaurant, and Tiki Bar. The property is located at 2201 S Ocean Blvd. in Myrtle Beach, South Carolina, near Market Common, shopping, dining, golf, entertainment, and Grand Strand attractions.
Key Highlights
- Two direct oceanfront condominium units at Paradise Resort
- 3,602 square feet across the offering; built in 2006
- Lockout layout supports a 4‑bedroom, 3‑bath configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,251
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$665,020
$665.0K
Cap Rate 7%
$475,014
$475.0K
Cap Rate 9%
$369,456
$369.5K
Market Conditions
NOI Build-Up for 3,602 SF
Gross rent
$63.1K $17.52/SF
− Vacancy
−$2.7K −$0.74/SF
EGI
$60.5K $16.78/SF
− OpEx
−$27.2K −$7.55/SF
NOI
$33.3K $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%
$665,020
Cap Rate 7%
$475,014
Cap Rate 9%
$369,456
Alternative Uses
Best Use
Apartment 5plus
$475.0K
$415.6K – $554.2K
NOI $33,251 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$912.9K
$798.8K – $1.07M
NOI $63,902 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
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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 - Two furnished oceanfront residences offer flexible layouts, private balconies, and access to extensive resort amenities.
Where is this short term rental property located?
The property is located at 2201 S Ocean Blvd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two direct oceanfront condominium units at Paradise Resort; 3,602 square feet across the offering; built in 2006; Lockout layout supports a 4‑bedroom, 3‑bath configuration
