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$487,500

Beds
3
Baths
2.0
sq ft
1,458

5501 N Ocean Blvd Unit 201, Myrtle Beach, SC 29577

5501 N Ocean Blvd Unit 201

Myrtle Beach, SC 29577

  • 68 days on market
    • Price drop $12,499↓
RARE OPPORTUNITY at DRAYTON HOUSE! Second Floor end unit located within the “Golden Mile” and the “Cabana District”. This 3 bedroom 2 full bath unit not only is located in one of the most ideal locations along the beach but delivers a spectacular view of the Atlantic Ocean just beyond the cabanas. Spacious and comfort accompanies this hard to find unit in a building with its own private pool and outdoor elevator. This unit would make an excellent primary residence, second home beach getaway or a healthy income producing investment property. This rare unit does not have a typical floor plan seen in ocean front condos, large spacious rooms and a functional floor plan. The spacious kitchen has plenty of cabinet space including a breakfast bar and a separate room for laundry. The oversized balcony oversees the cabana section and can be accessed from the master bedroom or main living area. Easy access to the beach within footsteps. There are only 8 units in this building and this end unit provides a bay window in the dining area and bedrooms for lots of natural light. Drayton House is not only located in a terrific area of Myrtle Beach, it is close to everything you could want! After spending the day on the beach building sandcastles, surfing or just soaking up the sun, you are minutes away from endless restaurants from exotic to traditional, golfing, shopping, miniature golf for the family, and the Award- winning Carolina Opry! This immaculately maintained condo is ready for your sunrises and sunsets with memories to last a lifetime.

Details

Property type

Condominium

Est. home value

$483,879

Lot size

Unknown

Price per sq ft

$335

Year built

1983

Monthly HOA fee

$825

Price History

11/08/2024
MyrtleBeach

MyrtleBeach #2423859

Price change
$487,500
-2.5%
10/15/2024
MyrtleBeach

MyrtleBeach #2423859

Listed
$499,999
+21.95%
02/10/2022
MyrtleBeach

MyrtleBeach #2124877

Sold
$410,000
+43.86%

Schools & Community

Elementary school: 

Myrtle Beach Elementary School

Middle school: 

Myrtle Beach Middle School

High school: 

Myrtle Beach High School

Community features: 

Pool

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$251,171
Asking price
$487,500
Closing costs (~8% of asking)
-$39,000
Est. remaining loan balance
-$197,329
Cash to seller
$251,171

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Allen Tate Mortgage

Loan start date

February 2022

Original loan amount

$210,000

Est. remaining balance

$197,329

Interest rate

3.05%

Loan type

New Conventional, 30 year

Seller

Sergio Denichilo

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 12/22/2024 at 4:20 PM

Listing updated: 11/26/2024 at 2:15 PM

Listed by: Mark Fales, GRANDE DUNES PROPERTIES Phone #: (843) 692-2323

MLS: MyrtleBeach #2423859

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