Coming in at #5 on the list,
Caribbean Resort & Villas
3000 North Ocean Blvd, Myrtle Beach, SC, 29577
Ranked 7.4/10
1,210 online reviews
Popular amenities
2 indoor pools, 5 outdoor pools, Arcade/game room, Children's pool, Free water park, Full-service spa, Gym, Lazy river, Spa tub, Waterslide, On the beach, Pool loungers, Terrace
One Reviewer said, “Clean facility and friendly staff.”
Investing at Caribbean Resort & Villas
For those interested in buying a unit at Caribbean Resort & Villas, units range from 1-bedroom to 4-bedrooms, having between 400 to 1,760 heated square feet, and come as both oceanview and oceanfront units.
1-Bedroom Units
The average sold price of an oceanfront 1-bedroom unit in 2023 was $232,543 while the oceanview 1-bedroom sold at an average price of $237,600.
2-Bedroom Units
The average price of an oceanfront 2-bedroom unit in 2023 was $378,000 while the oceanview 2-bedroom sold at an average price of $396,000.
3-Bedroom Units
The average price of an oceanfront 3-bedroom unit in 2023 was $496,100 while the oceanview 3-bedroom sold at an average price of $452,416 in 2022.
4-Bedroom Units
The average price of an oceanfront/view 4-bedroom unit in 2023 was $605,000 while that same unit sold at an average price of $540,000 in 2022.
Gross Rental Income
1-Bedroom Units
A 1-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $33,418.72.
For a cash buyer, the estimated operating expense of a 1-bedroom oceanfront unit is $16,955.69, this provides a projected profitability of $16,463.03.
For a buyer using financing, the estimated operating expense of a 1-bedroom oceanfront unit is $35,807.69, this provides a projected loss of $2,388.97.
The Average 1-bedroom Oceanfront Unit provides a depreciation of as much as $8,658.29, and over the past decade appreciated by $109,135, an 88% increase in appreciated value.
2-Bedroom Units
A 2-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $45,556.60.
For a cash buyer, the estimated operating expense of a 2-bedroom oceanfront unit is $27,281.22, this provides a projected profitability of $18,275.38.
For a buyer using financing, the estimated operating expense of a 2-bedroom oceanfront unit is $56,837.22, this provides a projected loss of $11,280.62.
The Average 2-bedroom Oceanfront Unit provides a depreciation of as much as $13,745.45, and over the past decade appreciated by $183,000, an 94% increase in appreciated value.
3-Bedroom Units
A 3-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $58,925.
For a cash buyer, the estimated operating expense of a 3-bedroom oceanfront unit is $39,249.86, this provides a projected profitability of $19,675.14.
For a buyer using financing, the estimated operating expense of a 3-bedroom oceanfront unit is $75,189.86, this provides a projected loss of $16,264.86.
The Average 3-bedroom Oceanfront Unit provides a depreciation of as much as $16,602.40, and over the past decade appreciated by $177,082, an 56% increase in appreciated value.
4-Bedroom Units
A 4-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $98,458.
For a cash buyer, the estimated operating expense of a 4-bedroom oceanfront unit is $46,854.27, this provides a projected profitability of $51,603.73.
For a buyer using financing, the estimated operating expense of a 4-bedroom oceanfront unit is $94,158.27, this provides a projected profitability of $4,299.73.
The Average 4-bedroom Oceanfront Unit provides a depreciation of as much as $22,000.00, and over the past decade appreciated by $235,000, an 64% increase in appreciated value.
Coming in at #4 on the list,
Oceans One Resort
102 South Ocean Boulevard, Myrtle Beach, SC, 29577
Ranked 7.8/10
1001 online reviews
Popular amenities
2 spa tubs, Children's pool, Gym, Indoor pool, Lazy river, Outdoor pool, TV in common areas, On the beach, On the water, Terrace
One Reviewer said, “Really nice and spacious rooms. Loved the 2 separate balconies. Rooms are up to date.”
Investing at Oceans One Resort
For those interested in buying a unit at Oceans One Resort, units range from 1-bedroom to 3-bedrooms, having between 550 to 1,350 heated square feet, and come as both oceanview and oceanfront units.
1-Bedroom Units
The average sold price of an oceanfront 1-bedroom unit in 2023 was $267,966 while the oceanview 1-bedroom sold at an average price of $274,900.
2-Bedroom Units
The average price of an oceanfront 2-bedroom unit in 2022 was $420,069 while the oceanview 2-bedroom sold at an average price of $426,225 in 2023.
3-Bedroom Units
The average price of an oceanfront 3-bedroom unit in 2022 was $420,069 while the oceanview 3-bedroom sold at an average price of $426,225 in 2023.
Gross Rental Income (2023)
1-Bedroom Units
A 1-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $34,740.79.
For a cash buyer, the estimated operating expense of a 1-bedroom oceanfront unit is $19,953.80, this provides a projected profitability of $14,786.99.
For a buyer using financing, the estimated operating expense of a 1-bedroom oceanfront unit is $44,709.80, this provides a projected loss of $9,969.01.
The Average 1-bedroom Oceanfront Unit provides a depreciation of as much as $11,024.22, and over the past decade appreciated by $105,386, an 65% increase in appreciated value.
2-Bedroom Units
A 2-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $69,432.
For a cash buyer, the estimated operating expense of a 2-bedroom oceanfront unit is $32,856.18, this provides a projected profitability of $36,575.82.
For a buyer using financing, the estimated operating expense of a 2-bedroom oceanfront unit is $69,672.18, this provides a projected loss of $240.18.
The Average 2-bedroom Oceanfront Unit provides a depreciation of as much as $16,908.18, and over the past 9 years appreciated by $132,569, an 46% increase in appreciated value.
3-Bedroom Units
A 3-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $59,953.42.
For a cash buyer, the estimated operating expense of a 3-bedroom oceanfront unit is $43,057.24, this provides a projected profitability of $16,896.18.
For a buyer using financing, the estimated operating expense of a 3-bedroom oceanfront unit is $84,937.24, this provides a projected loss of $24,983.82.
The Average 3-bedroom Oceanfront Unit provides a depreciation of as much as $19,236.36, and over the past 8-years appreciated by $255,634, a 100% increase in appreciated value.
Coming in at #3 on the list,
Holiday Sands Resort, Not Holiday Sands North on the Boardwalk
2411 South Ocean Boulevard, Myrtle Beach, SC, 29577
Ranked 8.6/10
3 online reviews.
Popular amenities
Indoor Pool, Outdoor Pool, Parking included, Free WiFi, Gym
One reviewer said, “It’s in a perfect location. You could walk to most anything. Staff was friendly. Will definitely come again next summer.”
Investing at Holiday Sands Resort
For those interested in buying a unit at Holiday Sands Resort, units range from 1-bedroom to 2-bedrooms, having between 500 to 1,150 heated square feet, and come as both oceanview and oceanfront units.
1-Bedroom Units
The average sold price of an oceanfront 1-bedroom unit in 2023 was $223,300 while the oceanview 1-bedroom sold at an average price of $199,000 in 2022 (No Oceanview units sold during 2023).
2-Bedroom Units
The average price of an oceanfront 2-bedroom unit in 2023 was $296,250 while the oceanview 2-bedroom sold at an average price of $309,000.
Gross Rental Income (2023)
1-Bedroom Units
A 1-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $28,600.
For a cash buyer, the estimated operating expense of a 1-bedroom oceanfront unit is $15,719.89, this provides a projected profitability of $12,880.11.
For a buyer using financing, the estimated operating expense of a 1-bedroom oceanfront unit is $33,635.89, this provides a projected loss of $5,035.89.
The Average 1-bedroom Oceanfront Unit provides a depreciation of as much as $8,228.62, and over the past decade appreciated by $131,647, an 144% increase in appreciated value.
2-Bedroom Units
A 2-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $38,000.
For a cash buyer, the estimated operating expense of a 2-bedroom oceanfront unit is $21,803.99, this provides a projected profitability of $16,196.01.
For a buyer using financing, the estimated operating expense of a 2-bedroom oceanfront unit is $46,871.99, this provides a projected loss of $8,871.99.
The Average 2-bedroom Oceanfront Unit provides a depreciation of as much as $11,512.73, and over the past 9 years appreciated by $160,125, an 118% increase in appreciated value.
Coming in at #2 on the list,
Sandy Beach Oceanfront Resort
201 South Ocean Blvd., Myrtle Beach, SC, 29577
Ranked 8.2/10
1,402 online reviews
Popular amenities
2 indoor pools, 2 outdoor pools, Children's pool, Gym, Lazy river, Barbecue grill, On the beach, Picnic area, Pool loungers
Guest reviews speak well of the family-friendly amenities, beach locale, and pool. One reviewer said, “Very nice view of the ocean, nice pools, house keeping great!”
Investing at Sandy Beach Oceanfront Resort
For those interested in buying a unit at Sandy Beach Oceanfront Resort, units range from 1-bedroom to 3 bedrooms, having between 450 to 1,500 heated square feet, and come as both oceanview and oceanfront units.
1-Bedroom Units
The average price of an oceanfront 1-bedroom unit in 2023 was $230,242 while the oceanview 1-bedroom sold at an average price of $215,500.
2-Bedroom Units
The average price of an oceanfront 2-bedroom unit in 2022 was $375,000 while the oceanview 2-bedroom sold at an average price of $425,000.
3-Bedroom Units
The average price of an oceanfront 3-bedroom unit in 2023 was $524,500 while the oceanview 3-bedroom sold at an average price of $532,500.
Gross Rental Income (2023)
1-Bedroom Units
A 1-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $42,345.
For a cash buyer, the estimated operating expense of a 1-bedroom oceanfront unit is $18,353.47, this provides a projected profitability of $23,991.53.
For a buyer using financing, the estimated operating expense of a 1-bedroom oceanfront unit is $37,241.47, this provides a projected profitability of $5,103.53.
The Average 1-bedroom Oceanfront Unit provides a depreciation of as much as $8,676.36, and over the past decade appreciated by $105,326, an 84% increase in appreciated value.
2-Bedroom Units
A 2-bedroom Oceanfront unit has a Gross Rental Income in 2023 of $38,000.00.
For a cash buyer, the estimated operating expense of a 2-bedroom oceanfront unit is $26,465.09, this provides a projected profitability of $11,534.91.
For a buyer using financing, the estimated operating expense of a 2-bedroom oceanfront unit is $60,641.09, this provides a projected loss of $22,641.09.
The Average 2-bedroom Oceanfront Unit provides a depreciation of as much as $15,696.91, and over the past 9 years appreciated by $270,000, an 169% increase in appreciated value.
3-Bedroom Units
A 3-bedroom Oceanfront unit has a Gross Rental Income in 2022 of $49,970.
For a cash buyer, the estimated operating expense of a 3-bedroom oceanfront unit is $31,348.21, this provides a projected profitability of $18,621.79.
For a buyer using financing, the estimated operating expense of a 3-bedroom oceanfront unit is $70,936.21, this provides a projected loss of $20,966.21.
The Average 3-bedroom Oceanfront Unit provides a depreciation of as much as $18,181.82, and over the past 8-years appreciated by $273,500, a 109% increase in appreciated value.
Coming in at #1 on the list,
Holiday Pavilion Resort on the Boardwalk
1200 N Ocean Blvd, Myrtle Beach, SC, 29577-3757
Ranked 8.2/10
1188 online reviews
Popular amenities
Children's pool, Gym, Indoor pool, Lazy river, Outdoor pool, Spa tub, Bar/lounge, Coffee Shop/cafe, Poolside bar, Barbecue grill, Picnic area, Extra beds/cribs
Reviewer said, “Great location on the beach. Heated pool which grandkids enjoyed. Good eats near by. Great hotel for families.”
Investing at Holiday Sands North On the Boardwalk Resort
For those interested in buying a unit at Holiday Sands North On the Boardwalk Resort, units range from Efficiency to 2-bedrooms, having between 358 to 1,150 heated square feet, and come as both oceanview and oceanfront units.
Efficiency Units
The average sold price of an oceanfront Efficiency unit in 2023 was $223,300 while the oceanview Efficiency sold at an average price of $199,000 in 2023.
1-Bedroom Units
The average sold price of an oceanfront 1-bedroom unit in 2023 was $223,300 while the oceanview 1-bedroom sold at an average price of $199,000 in 2022 (No Oceanview units sold during 2023).
Gross Rental Income (2023)
Efficiency Units
An Efficiency Oceanfront unit has a Gross Rental Income in 2023 of $32,400. However, similar units average $45,000 per year on the onsite program.
For a cash buyer, the estimated operating expense of an Efficiency oceanfront unit is $22,708.70, this provides a projected profitability of $22,291.30.
For a buyer using financing, the estimated operating expense of an Efficiency oceanfront unit is $36,184.70, this provides a projected profitability of $8,815.30.
The Average Efficiency Oceanfront Unit provides a depreciation of as much as $6,181.82, and over the past decade appreciated by $75,208, an 74% increase in appreciated value.
1-Bedroom Units
A 1-bedroom Oceanfront unit has a Gross Rental Income in 2022 of $37,813.
For a cash buyer, the estimated operating expense of a 1-bedroom oceanfront unit is $23,899.43, this provides a projected profitability of $13,913.57.
For a buyer using financing, the estimated operating expense of a 1-bedroom oceanfront unit is $40,123.43, this provides a projected loss of $2,310.43.
The Average 1-bedroom Oceanfront Unit provides a depreciation of as much as $7,450.91, and over the past decade appreciated by $98,000, an 80% increase in appreciated value.
Source: Click Here.
Call today to discuss your next Oceanfront Condo purchase in the Myrtle Beach Real Estate Market: 843-360-1737
Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.