Furnished Condo with Ocean
For Sale
$157,000
6900 N Ocean Blvd. #1040 Myrtle, Myrtle Beach, SC 29572
Furnished one-bedroom condo with ocean views and resort amenities.
Property Size625 SF
Days on Market734
Property Features for 6900 N Ocean Blvd. #1040 Myrtle
General Information
Standard status
Active
Size
625 SF
Property subtype
Condominium
Amenities
Security System
Cable Ready
Electric
Microwave
Refrigerator
Deck, Pool, Porch, Water Front, Cable Available, Electricity Available, Phone Available, Sewer Available, Water Available
Building Details
Building Size
625 SF
Year Built
1960
Listing Agency:
Keller Williams Myrtle Beach
Listed By:
Brad Emond · License #100092
(843) 503-0033
Source:
Kw
Added: Oct 4, 2024
Changed: Oct 4
Last Checked: Oct 5 at 3:19PM
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 Keller Williams Myrtle Beach
Investment Insights
Based on property information with market context.
This furnished one-bedroom, one-bathroom condo in Myrtle Beach offers ocean views and can accommodate up to 8 people with 2 queen-size beds, a sofa bed, and a full-size Murphy bed. Located in the Grand Strand area, this condo is situated within the Caravelle Resort, which features amenities such as a hot tub spa, lazy river, indoor and outdoor pools, a sun deck, a business center, an outdoor beach bar, a fitness room, a game room, a gift shop, and an oceanfront lawn with a picnic area. This property presents an investment opportunity or a place to relax by the beach.
Key Highlights
- Breathtaking ocean view
- Furnished one bedroom condo with capacity for 8 people
- Located in the heart of Grand Strand area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,770
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$115,400
$115.4K
Cap Rate 7%
$82,429
$82.4K
Cap Rate 9%
$64,111
$64.1K
Market Conditions
NOI Build-Up for 625 SF
Gross rent
$11.0K $17.52/SF
− Vacancy
−$460 −$0.74/SF
EGI
$10.5K $16.78/SF
− OpEx
−$4.7K −$7.55/SF
NOI
$5.8K $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%
$115,400
Cap Rate 7%
$82,429
Cap Rate 9%
$64,111
Alternative Uses
Best Use
Apartment 5plus
$82.4K
$72.1K – $96.2K
NOI $5,770 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$158.4K
$138.6K – $184.8K
NOI $11,088 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 29572, SC
10,711
Population
14,313
Households
0.7
Avg Household Size
57
Median Age
43%
College-Educated
95%
High-School Grad
8.9 sq mi
ZIP Area
1,203
Density / Sq Mi
$75,388
Median Household Income
$36,121
Median Earnings
$1,148
Median Rent
$385,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Furnished one-bedroom condo with ocean views and resort amenities.
Where is this short term rental property located?
The property is located at 6900 N Ocean Blvd. #1040 Myrtle Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $157,000.
What are key features of this property?
This property features: Breathtaking ocean view; Furnished one bedroom condo with capacity for 8 people; Located in the heart of Grand Strand area
