Suite 1504 Water’s Edge Resort | 1012 N Waccamaw Dr
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Suite 1504 Water’s Edge Resort 1012 N Waccamaw Dr
1 Unit Apartment Building $299,000 ($299,000/Unit) 9.52% Cap Rate Garden City, SC 29576
Investment Highlights
- One (1) Oceanfront Penthouse Floor Condos and Turn Key Rental Business with High Cap Rate
- Perfect Family Beach, Extra Large Pool Deck and Pools
- Upscale Beach Theme Decor with Original Professional Artwork
- Spectacular Views of the Atlantic Ocean, Always in High Demand
- Updated Spacious Condos with Large Kitchen, Second Full Bath and Washer/Dryer
- Reservations For 2025 Already On the Books
Executive Summary
Prime investment opportunity that includes a gorgeous 1BR/2BA penthouse floor oceanfront condo and a turn key, very profitable and well established rental business. Common areas include a massive covered parking garage, a huge oceanfront pool deck with large pool and a separate hot tub, a heated ( in Winter) indoor pool and hot tub, and an exercise room. This condo is already booked with 5 month Winter rentals and have weekly rentals booked for 2025. One hundred five star VRBO reviews convey. Waters Edge Resort is NOT a hotel but rather an HPR (horizontal property regime) of privately owned condos. Guests and owners love the pools, bar and cafe on the ground floor of the resort. More photos and reviews can be seen by clicking on the VRBO page links provided.
Property Facts
| Price | $299,000 | Apartment Style | High Rise |
| Price Per Unit | $299,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.16 AC |
| Cap Rate | 9.52% | Building Size | 1,520 SF |
| Sale Conditions | Bulk/Portfolio Sale | Average Occupancy | 100% |
| Gross Rent Multiplier | 6.8 | No. Stories | 15 |
| No. Units | 1 | Year Built | 1985 |
| Property Type | Multifamily | Parking Ratio | 10/1,000 SF |
| Property Subtype | Apartment |
| Price | $299,000 |
| Price Per Unit | $299,000 |
| Sale Type | Investment |
| Cap Rate | 9.52% |
| Sale Conditions | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 6.8 |
| No. Units | 1 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | High Rise |
| Building Class | B |
| Lot Size | 1.16 AC |
| Building Size | 1,520 SF |
| Average Occupancy | 100% |
| No. Stories | 15 |
| Year Built | 1985 |
| Parking Ratio | 10/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Wi-Fi
- Breakfast Nook
- Island Kitchen
Site Amenities
- 24 Hour Access
- Pool
- Spa
- Waterfront
- On-Site Retail
- Wi-Fi
- Bicycle Storage
- Elevator
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+2 | 2 | $2,000 | - |
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zoning
| Zoning Code | Commercial (Commercial) |
| Commercial (Commercial) |
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White Sand Vacations LLC
Suite 1504 Water’s Edge Resort | 1012 N Waccamaw Dr
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