412 Seaside DrSurfside Beach, SC 29575

Property Details for 412 Seaside Dr

Year built

1994

Lot size

0.14 AC

Property size (Sq ft)

3,696 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a meticulously maintained, three-story duplex located at 412 S Seaside Dr, Surfside Beach, SC 29575. Boasting 3,696 square feet of net rentable space, this property features two units, each with four bedrooms and two bathrooms, comfortably accommodating 28 people. Built in 1994 and extensively renovated in 2022, the property showcases modern amenities including solid flooring, granite countertops, and smooth ceilings. Each unit offers independent kitchens and entrances, maximizing rental potential. The property sits on a 0.14-acre lot and includes 10 parking spaces. Currently operating at 100% occupancy, the property generates a substantial NOI of $181,088, with a pro-forma NOI projected at $215,000, resulting in a current cap rate of 10.09% and a pro-forma cap rate of 11.98%. The asking price is $1,795,000, or $897,500 per unit. The property is zoned RES and offers stunning ocean views from multiple perspectives, including most bedrooms, kitchens, living rooms, and large front porches. There are no HOA fees. This stabilized investment property presents a compelling opportunity for owner-users seeking a high-return coastal investment. The property's strong rental history and prime location in Surfside Beach, Horry County, South Carolina, make it an attractive prospect for discerning investors.

Location Insight

City

Surfside Beach

County

Horry

State

South Carolina

Latitude

33.602

Longitude

-78.9753

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