404 14th Ave S - Apartments FOR SALE


Myrtle Beach, SC 29577
$1,500,000 USD
845-731-1476
404 14th Ave S, Myrtle Beach, SC for Sale
$1,500,000 USD
Apartments - FOR SALE
1/29
null | 7.63% Cap Rate

404 14th Ave S
Myrtle Beach, SC 29577


HIGHLIGHTS

  • Opportunity to convert to short-term rentals to increase revenue potential
  • Located in a thriving submarket with a high demand and consistent growth due to revitalization of the area
  • Prime location just two blocks from the beach

OVERVIEW

Welcome to The Belvedere, an exceptional 16-unit multi-family apartment complex in the heart of Myrtle Beach, offering both short-term rental potential and long-term tenant stability. This rare investment opportunity boasts an ideal location just two blocks from the beach in the heart of downtown Myrtle Beach, this asset offers investors exceptional flexibility and growth potential. Significant value-add opportunity with upside in converting the units into short-term vacation rental units. Each unit, a mix of efficiency and 1-bedroom layouts, is thoughtfully designed for optimal comfort and functionality, catering perfectly to both long-term and short-term tenants. Situated in a short-term rental approved zone, The Belvedere offers a unique chance to maximize revenue through short-term rentals—a rare find in this highly sought-after area. With monthly rental tenants currently in place, the property already generates steady income, providing the savvy investor with a solid foundation. Myrtle Beach's popularity as a top tourist destination ensures high demand for rental properties, promising strong cash flow and appreciation, making The Belvedere an outstanding investment opportunity for any investors portfolio.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$170 USD /SF

# OF UNITS

16

PRICE/UNIT

$93,750

CAP RATE

7.63%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Belvedere Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

TA-40

APN/PARCEL ID

44311040072

ASK ABOUT THIS PROPERTY

Russell AuthPalms RealtyMore Info
845-731-1476

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Russell AuthPalms RealtyMore Info
845-731-1476

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.