1703 Ocean Blvd Myrtle Beach, SC 29577

This exceptional oceanfront Myrtle Beach motel presents a unique investment opportunity. The property boasts two buildings, each featuring 48 rooms, totaling 98 keys across 25,000 square feet and two stories. Currently operating at 50% occupancy, the motel has been partially converted into 14 apartments generating $2,900 monthly rent. The property's prime location ensures high demand for weekly and monthly rentals, commanding rates between $400 and $450, inclusive of utilities. New owners can capitalize on this demand by converting the remaining rooms into long-term apartments, studios, or extended-stay units, potentially achieving 100% occupancy. The scarcity of available oceanfront land in this area further enhances the property's value. Significant recent improvements include a roof replacement within the last five years, eliminating immediate major expenses. The seller is motivated and offering attractive seller financing: 50% down payment, 7% interest, 30-year amortization, and a 3-5 year balloon payment. This presents a rare chance to acquire a highly profitable oceanfront property with significant upside potential. The property also offers the added benefit of potential HOA fee collection within the existing apartment complex.