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$1,190,000

Beds
Unknown
sq ft
4,960

6501 Somerset Dr, Myrtle Beach, SC 29572

6501 Somerset Dr

Myrtle Beach, SC 29572

  • 16 days on market
Attention Investors! Incredible Opportunity Awaits! Don’t miss out on this fantastic chance to own a brick eight-unit building just blocks from the stunning shores of Myrtle Beach, SC! Situated on a spacious corner lot measuring 125 by 117, this property is a true gem in a prime location. Five out of the eight units underwent a complete renovation in 2021, ensuring modern amenities and stylish finishes. The exterior was also beautifully updated in 2021, enhancing the overall appeal of this investment. Each unit boasts a full kitchen with an island, an extra-large bedroom with ample closet space, and a full bath, making them highly attractive to potential tenants. With 100% occupancy, you can start generating income immediately! Additional perks include individual storage units for each tenant in the back, and the fantastic location surrounded by shopping, fine dining, parks, and just a short walk to the beach. Tenants are responsible for their electric, cable, internet, and phone, while the owner covers water and sewer. Plus, there’s NO HOA to worry about! This is an exceptional investment opportunity that won’t last long! Contact the listing agent today for financial details and to schedule a viewing. Note: The unit pictured is the one that has not yet been renovated. Seize this chance to invest in a thriving area with endless potential!

Details

Property type

Apartment

Est. home value

$1,085,197

Lot size

Unknown

Price per sq ft

$240

Year built

1971

HOA

Yes

Price History

12/12/2024
MyrtleBeach

MyrtleBeach #2428048

Listed
$1,190,000
+32.22%
03/28/2022
MyrtleBeach

MyrtleBeach #2201924

Sold
$900,000
+56.52%
06/21/2021
MyrtleBeach

MyrtleBeach #2104641

Sold
$575,000
+74.24%

Schools & Community

Elementary school: 

Myrtle Beach Elementary School

Middle school: 

Myrtle Beach Middle School

High school: 

Myrtle Beach High School

Seller’s Loan History

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

Lender

Anderson Brothers Bank

Loan start date

March 2022

Original loan amount

$720,000

Est. remaining balance

Not provided

Interest rate

3.55%

Loan type

Commercial, 5 year

Seller

Mogo Investments Llc

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?

Status: Active

Tomo last checked: 12/27/2024 at 8:40 PM

Listing updated: 12/12/2024 at 10:30 PM

Listed by: Lee Ohana, Keller Williams The Forturro G Phone #: (843) 612-1473

MLS: MyrtleBeach #2428048

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