Vacation Rental Duplex Steps from the Beach

[Michael Thompson]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in N Myrtle Bch.

Purchase price: $410,000

Go back in time when homes were built with quality. This 2nd row 2 story duplex style home located just 100 steps from family-oriented Crescent Beach, has beautiful knotty pine walls, ceilings, and kitchen cabinets. Hardwood floors have been refinished and a new roof was installed in 2017. Has Ring security system. Situated on a large double lot where you can swing under gorgeous old live oak trees or just enjoy this bird watcher's paradise among many flowering trees and shrubs. Each level has 2 bedrooms and 1 bath with new Stainless frig and gas stove down and new white frig and gas stove up. Each has an enclosed porch with rockers. In back of the home is a ground-level deck with an outside kitchen and ample built-in storage and parking for 6 or more. Don't miss this breathtaking double lot between Perrin and Holly.

What made you interested in investing in this type of deal?

I see the steady cash-flow from many of the vacation properties in that area. I must be crazy getting into quick turn rentals! We will see how it goes!

How did you add value to the deal?

The interior is completely covered in Knotty pine....not my favorite! So, painting the interior walls, replacing the old cafe green countertops with butcher block, and updating the kitchen floors and backslash, as well as the bathrooms with a "beachy" tile! Overall incorporating a beach theme to attract vacationers.

What was the outcome?

We will see!