Myrtle Beach Oceanfront Investment Guide: Boardwalk Beach Resort

Boardwalk Beach Resort’s oceanfront towers in Myrtle Beach offer a mix of converted condos and suites in the heart of the Grand Strand. This comprehensive guide focuses on oceanfront units only at Boardwalk Beach Resort, tailored for first-time investors, seasoned real estate investors, and individuals looking to roll over retirement savings or business sale proceeds into short-term vacation rentals. We cover real data on rental incomes (2023–2024), HOA fees and policies, guest satisfaction insights, amenities and location perks, comparisons with nearby resorts (Bluewater Resort and Dunes Village), and strategic investment considerations (financing, 1031 exchanges, self-directed IRAs, etc.). Read on for a detailed, investor-focused analysis rich in Myrtle Beach condo investing insights, short-term rental profitability, and oceanfront real estate tips.

Boardwalk Beach Resort Overview & Location

Boardwalk Beach Resort (2301 N Ocean Blvd, Myrtle Beach) has been a local landmark for 30+ years, originally a hotel now converted into privately-owned condominiums. It’s situated oceanfront near 23rd Avenue North, roughly 10 blocks from the central Myrtle Beach Boardwalk promenade and SkyWheel area. This prime location means high summer foot traffic and rental demand – guests can walk to popular restaurants, the downtown boardwalk attractions, and even the Myrtle Beach Convention Center (about a 10-minute walk). Broadway at the Beach, a major shopping and entertainment complex, is only a 5-minute drive away, adding to the location’s appeal for vacationers.

Despite the name, the resort isn’t directly on the new boardwalk promenade, but it occupies 700 feet of direct beachfront in the central Grand Strand. The slightly north-of-downtown location offers a balance: guests are close to the action but just outside the most crowded strip, which many find ideal. Investors benefit from this central location as it attracts both families on summer vacations and attendees for off-season events (like conventions or sports tournaments) due to proximity to the Convention Center and other venues.

Resort Composition: Boardwalk Beach Resort consists of a high-rise oceanfront tower and adjacent structures that house rooms, efficiencies, and 1-2 bedroom suites. During the condo conversion in the mid-2000s, many units were remodeled and updated. The one-bedroom suites are essentially large efficiency units (~580 sq ft) with a separate bedroom area carved out; they often include Murphy beds or sleeper sofas in the living area to maximize sleeping capacity. Some corner units were combined with adjoining lockouts to create 2-bedroom, 2-3 bath lockout condos (~1,000 sq ft). In these lockouts, an oceanfront one-bedroom with full kitchen connects to an adjacent studio unit with its own kitchenette, allowing flexible rental options (together as a 2BR for larger groups, or separately as a 1BR and a studio). This setup can sleep 8-10 guests in the 2BR configuration, which significantly boosts rental potential during peak season.

Unit Amenities: Most condos feature at least a kitchenette or full kitchen (efficiency style in smaller units), a private oceanfront balcony, and even jacuzzi tubs in some units. Being direct oceanfront, every unit offers either full oceanfront views or angled ocean vistas, which is a key selling point in marketing to renters. Investors should note that decor and upkeep vary by owner – updated units with modern coastal furnishings, new flooring, and renovated kitchens (like granite countertops or stainless appliances) tend to command higher nightly rates and better guest reviews, whereas dated units may drag on both rental income and guest satisfaction.

Family-Friendly Amenities Driving Rental Demand

The oceanfront pool deck at Boardwalk Beach Resort features multiple pools, a lazy river, kiddie pools, and a spacious lawn – amenities that drive family rental demand. One reason Boardwalk Beach Resort remains popular is its extensive amenities, which rival many newer resorts and greatly appeal to vacationers (especially families). Key amenities include:

• Water Features: Three outdoor swimming pools, a 250-foot lazy river, multiple hot tubs, and even three kiddie pools/splash areas. There are also three heated indoor pools and an indoor hot tub for year-round swimming – a crucial feature that helps attract winter “snowbird” renters and off-season guests when outdoor pools are too cold. The abundance of pools and the lazy river make the resort highly attractive on Airbnb/VRBO listings, as families prioritize on-site entertainment for children.

• Oceanfront Lawn & Sun Deck: A unique feature at Boardwalk is the oceanfront grassy lawn with lounge chairs and umbrellas. Guests love this sunbathing area overlooking the beach, and it’s frequently mentioned in reviews as a plus for relaxing or watching the waves. It effectively extends the pool deck experience right to the dunes, giving an upscale resort feel. The combination of lawn and pool deck spans 700 feet of beachfront, providing plenty of space even in peak season – a selling point for guest comfort.

• Fitness & Sauna: An on-site fitness center and sauna are available, which can attract health-conscious travelers and convention goers who want to maintain routines. While not huge, having a fitness room listed in the amenities is important for marketing and can set your unit apart from simpler rentals with no gym.

• On-Site Dining & Services: In the summer season, there’s a restaurant/café and tiki bar on-site, plus an ice cream shop and arcade nearby. An on-site rental management desk is also available, providing concierge and housekeeping services for those who use the in-house program. There’s also a coin-op laundry facility on-site (convenient for both guests and housekeepers). These services add to guest satisfaction (for example, quick towel exchanges or maintenance requests if using the on-site program) and can bolster reviews.

• Parking: Boardwalk has a parking deck across the street and some surface parking in front (one free parking space per unit is typical). While not as convenient as a below-building garage, it is standard for oceanfront resorts in the area. Ample parking and included parking passes mean guests won’t worry about extra fees.

Proximity to Attractions: Location amenities also matter – Boardwalk guests can walk to mini-golf, beach shops, and eateries. It’s a short stroll to the Myrtle Beach Boardwalk attractions (SkyWheel, arcades, zipline) and about a 3-minute drive to Broadway at the Beach, as mentioned. The resort is also only ~1.8 miles from Myrtle Beach International Airport (a 10-15 minute drive), making it convenient for fly-in travelers. Being “in the heart of Myrtle Beach” is a major marketing keyword – it signals to potential renters on Airbnb/VRBO that they won’t need a car to enjoy the main attractions.

All these amenities and the prime location contribute directly to high rental demand. Families book Boardwalk units for the pools and lazy river, couples appreciate the central location, and off-season monthly renters enjoy the indoor pools and nearby dining options. As an investor, you can leverage these amenities in your listings to justify strong nightly rates, especially in summer.

Rental Income Ranges (2023–2024) by Unit Type

One of the most important considerations for investors is rental income potential. At Boardwalk Beach Resort, rental performance varies by unit type (studio vs 1BR vs 2BR lockout), unit condition, and management strategy. Below we outline gross rental income ranges for recent years (2023 into 2024) based on actual figures and comps:

• Oceanfront Studio/Efficiency Units: These smaller units (often open layout with mini-kitchen) typically gross around $15,000 to $25,000 per year in rental income. A clean, updated efficiency in a prime floor level might hit the upper end of this range, especially if aggressively rented via Airbnb. For example, a similar oceanfront efficiency condo in Myrtle sold for ~$102k and generated about $18,000/year gross. Studios at Boardwalk benefit from the same location/amenities as larger units, but their lower sleep capacity (usually 2-4 guests) caps the total rent somewhat. Still, $18-20k is common for an efficiently-run Boardwalk studio.

• 1-Bedroom Oceanfront Condos: The bulk of units at Boardwalk are one-bedroom suites (sleeping 6-8 with sleepers/Murphy bed). Gross rental incomes for 1BR units in 2023 ranged roughly $25,000 to $35,000+. Actual performance depends on condition and marketing: one example 1BR condo (sold for ~$148k) produced $27,500 in a recent year, while another 1BR in a better tier grossed $34,600 in a year. Well-reviewed 1BR units at Boardwalk can approach the $30K/year mark in a strong year. This aligns with a common rule of thumb that oceanfront condos can yield around $30,000 per bedroom in gross rents under peak management. Compared to some newer resorts, Boardwalk’s 1BRs might rent slightly lower (due to older building reputation), but the affordable purchase price of these units often makes the ROI very attractive (i.e. a ~$200k 1BR generating ~$30k/year is a solid ~15% gross yield before expenses).

• 2-Bedroom Lockout Units: A limited number of 2BR configurations exist at Boardwalk (usually a 1BR + adjoining studio lockout). These high-capacity units are “big income producers,” often pulling in $50,000 to $70,000+ per year in gross rentals. For instance, a renovated 2BR/3BA lockout (sleeps 8) at Boardwalk had 2023 gross rental income of $68,000 – a tremendous return, rivaling some of the top resorts. Even more modest 2BR oceanfront condos in Myrtle Beach commonly gross over $50k. With a lockout, owners have flexibility to rent as a 2BR to one group or as separate 1BR and studio to maximize occupancy. This can boost shoulder-season and off-season income (e.g. renting the smaller side to convention travelers in winter, while still booking the 1BR side separately). Investors targeting high gross income will find these lockouts appealing, especially since their purchase price (~$300k range as of 2023) is relatively low compared to the income (in the example, $68k on a $295k purchase).

Comparative Context: To gauge these numbers, consider nearby resorts:

• At Bluewater Resort (an older oceanfront condo-hotel ~20 blocks south), a typical 1BR unit grossed about $17,000 in 2024 – noticeably lower than a Boardwalk 1BR. Bluewater’s location is further from the main tourist core and its units are smaller (~475 sq ft), which can limit revenue. Boardwalk’s more central location and higher guest capacity give it an edge, hence the ~$25–30k typical for a 1BR at Boardwalk vs ~$15–20k at some south-end resorts.

• At Dunes Village Resort (a luxury north-end resort with indoor water parks), rental incomes are much higher. Dunes Village is known to offer the highest gross rental incomes on the Grand Strand. For example, a 1BR at Dunes Village can gross nearly $40,000/year thanks to its water park amenity and 4-star appeal. Larger units at Dunes can exceed $80k-$90k annually in prime years. Of course, those units also cost more to buy (often $300k+ for a 1BR, $500k+ for 2BR), so the investment profile differs. The key takeaway is that Boardwalk sits in the middle – not the top earner in town, but very strong income for its price class. It outperforms many older resorts (due to location) while coming close to the ROI of premium resorts, making it a favorite of value-driven investors.

Seasonality: It’s important to note that Myrtle Beach is highly seasonal. Summer (June–August) is peak, where weekly rental rates skyrocket. It’s not uncommon for a Boardwalk 1BR to gross $12k+ just in the peak 8-10 weeks of summer. Spring and fall “shoulder seasons” contribute moderate income (snowbirds and golfers in March-April and Oct-Nov). Winter (Dec–Feb) is the low season – monthly off-season rentals or reduced nightly rates will bring in some income, but many owners use winter to do maintenance or enjoy personal use. Plan for the summer to carry the year’s profits. As one local expert notes, “Summer is definitely the high season when it comes to rental income flowing into the bank, which is good because you may find yourself tapping into that bank in the winter to pay for the condo”. Essentially, a strong summer covers fixed costs during the slow winter. Investors should budget conservatively: ensure that the summer income can cover mortgage, HOA, taxes, and insurance for the entire year, leaving the rest as profit.

Tip: Aim to own and market by early spring to capture advanced summer bookings. Many families book summer trips in Jan-Mar for the upcoming season. By having your unit rental-ready (photos, listing, management in place) by spring, you can maximize that critical first summer’s revenue.

HOA Fees, Policies & Impact on Profitability

One aspect that can make or break condo investment profitability is the Homeowners Association fee. Boardwalk Beach Resort’s HOA fees are comprehensive but high, which is typical for Myrtle Beach oceanfront condotels. Here’s what to know:

• HOA Fee Amounts: Boardwalk’s HOA dues in 2024 run roughly $500–$600+ per month for studios, around $1,100–$1,300/month for one-bedrooms, and upward of $1,400/month (or more) for the 2BR lockout units. For example, a 1BR unit had an HOA fee of ~$1,233/month, and a 2BR lockout was about $1,400/month. These figures may seem steep, but importantly, they include nearly all operating expenses except property taxes.

• All-Inclusive Coverage: What do the HOA fees cover? At Boardwalk, almost everything: building insurance (hazard and flood), all utilities electricity, water/sewer, cable TV, internet, pest control, common area maintenance, pools and amenities upkeep, trash service, and onsite management fees. Essentially, your monthly HOA check covers costs that you as an owner would otherwise pay individually on a beach house (utility bills, WiFi, insurance, etc.). Investors should view it as a bundled expense. For instance, that $1,233/month for a 1BR includes the unit’s electric bill, which can be significant in peak summer with A/C running and guests leaving lights on. It also covers building insurance – given the coastal location, stand-alone wind and flood insurance could be thousands per year on a house. Here it’s built in. The HOA even covers cable/internet in the unit and common areas, saving you from subscribing separately. This “all-inclusive” HOA policy is confirmed by the resort: “HOA fees are all inclusive so they cover everything except your property taxes”.

• HOA Policies: Boardwalk’s HOA allows short-term rentals and does not require owners to use the on-site rental management. This is critical for investors – you are free to self-manage via Airbnb/VRBO or hire an external property manager. The presence of an on-site rental desk is optional; many owners choose it for convenience (they handle bookings, cleaning, front-desk service for a commission), while others maximize income by doing it themselves. There are no known rental restrictions like blackout dates or minimum stays imposed by the HOA beyond typical city regulations. However, as with most resorts, guests must be 21-25+ to check in (to prevent “spring break party” rentals), and no pets for renters (almost all Myrtle Beach resorts prohibit vacation renters from bringing pets, even if owners are allowed pets). The Oyster review for a similarly named resort noted age limits and strict security – Boardwalk MB also requires renter age minimums (usually 21 or 25) which is a pro for owners who want to avoid property damage. These policies help maintain order and are generally positive for investment (reducing risk of rowdy renters causing costly damage).

• HOA Governance: Investors should stay informed on the HOA’s health. Check for pending special assessments (for major repairs or improvements) and the reserve fund status. Older buildings like Boardwalk will eventually need updates (roof, elevators, etc.). A well-run HOA will budget for these. The Jerry Pinkas team advises checking if a building has any pending litigation or big projects planned. For Boardwalk, major renovations were done during the 2005 conversion, but by 2025 the exterior may be due for re-painting or other refresh. Ask for the latest HOA meeting minutes when investing to see discussions on capital improvements.

Impact on Profitability: The HOA fee is the largest expense item for most condo investors, but at Boardwalk it simplifies your accounting. With HOA covering utilities and most services, your variable costs are minimal. After HOA and property taxes (and mortgage if any), the remaining rental income is your net operating income (though don’t forget to account for rental management commission if using, or cleaning fees, supplies, and maintenance). For a quick example:

• A 1BR grossing $30,000/year might have ~$15,000 in HOA fees (around $1,250×12) plus ~$1,500 in property tax. So ~$16,500 in fixed costs. If self-managed on Airbnb, subtract cleaning costs paid by guests and Airbnb fees (~3%). You could clear around $12,000 net (before any mortgage). If financed, subtract mortgage payments to see cashflow. ROI: On a $180,000 purchase with 25% down, $12k net would be roughly a 27% cash-on-cash return – quite strong. If using on-site management (which may take ~40% of gross after cleaning, etc.), the net would be lower, but many still see positive cash flow given the high gross income.

• A 2BR lockout grossing $60,000 might have ~$16,800 HOA (at $1,400×12) and maybe $2,000 tax, leaving ~$41,200. Even with a rental manager at 20% ($12k), you’d net around $29k. On a $300k condo, that’s nearly 10% net yield, or higher if self-managed.

The key is to factor HOA into your projections – it’s high, but it replaces several separate expenses. Many “common investor concerns” revolve around high HOA dues. Remind yourself and your financial partners that these dues cover core expenses and guest amenities that drive rental revenue. Also, high HOA is not unique to Boardwalk – most oceanfront resorts with pools and elevators in Myrtle Beach have similar fees. Investors just need to ensure the gross rental potential (as discussed above) comfortably exceeds the HOA+tax overhead, which at Boardwalk it generally does when the unit is properly marketed.

Guest Satisfaction & Reviews: What Airbnb/VRBO Guests Say

An investment is only as good as its ability to attract and satisfy guests. Guest reviews give insight into both the strengths and pain points of Boardwalk Beach Resort rentals, which investors can use to improve their offering and marketing.

Overall Reputation: As a legacy resort with mixed unit conditions, Boardwalk has had a checkered reputation in hotel reviews. On TripAdvisor it has been rated around 2.5 out of 5 with many reviews noting dated rooms or inconsistent cleanliness. It’s ranked near the lower end of Myrtle Beach hotels (e.g., ~#166 of 197 hotels). However, there’s an important distinction: units rented as updated condos (through Airbnb/VRBO or certain agencies) often fare much better in reviews than the “hotel” side listings. In fact, one TripAdvisor commenter specifically reviewed Boardwalk Beach Resort Condominiums (not the hotel) and said “the resort was awesome. The staff was helpful & friendly” – indicating that condo guests who got a good unit and good management left happy.

Positive Feedback: Guests consistently praise:

• Location: Virtually every review highlights how convenient the resort is to everything – the beach at your doorstep and attractions within walking distance. Many mention the joy of “waking up to the sound of ocean waves” and being able to walk or take a short Uber to popular spots.

• Amenities: Families love the pools, lazy river, and the oceanfront lawn. A review snippet from a guest noted “friendly staff and excellent maintenance of all facilities. Efficiency rooms well equipped.” The presence of multiple pools (indoor and out) and a hot tub means even if one facility is crowded or under maintenance, others are available – guests appreciate this backup. The seasonal beachside bar and convenient ice cream shop on site also got nods in some guest comments.

• Value for Money: Compared to expensive newer resorts, Boardwalk’s units often rent at a moderate rate. Many guests feel they got a “great deal for an oceanfront stay with so many amenities”. This value perception leads to decent ratings even if the building isn’t brand new.

Negative Feedback / Common Complaints: Smart investors address these proactively:

• Outdated or Dirty Units: The number one complaint is when a guest checks into a unit that is not as pictured or not properly cleaned. Phrases like “not as pictured!” or “worst hotel I ever booked” appear in some TripAdvisor reviews for Boardwalk. This reflects poorly maintained individual units. Solution: If you buy a unit, invest in a modern renovation and professional decor photos for your listing. Also, hire a top-notch cleaning service (or the on-site housekeeping if reliable) and do periodic deep cleans. By exceeding the typical Boardwalk unit quality, you’ll stand out and avoid those bad reviews entirely. Indeed, many Airbnb listings at Boardwalk boast 4.5+ star ratings after such improvements.

• Elevators & Parking: Some guests mention slow elevators in peak times (common in high-rises) and the inconvenience of the parking garage being across the street rather than under the building. While you can’t change this, you can mitigate it by informing guests in your welcome info the best times to use the elevators (e.g., avoid check-out hour) and that unloading at the lobby is available. Also, assure them one free parking pass is provided. Setting expectations helps prevent surprise complaints.

• Noise and Crowds: In summer, the resort is lively. Occasionally reviews note hallway noise or crowded pools. Again, set expectations – mention that the resort is family-friendly and popular (so lively atmosphere), but also point out features like quiet hours and security presence that keep it safe. High-level units tend to be quieter (less street and pool noise), something to consider when purchasing.

• HOA/Management Rules: A few guests have bristled at rules – e.g., no grilling (the resort fines $200 if someone tries to grill on the balcony, as noted in an Airbnb house rules snippet), or strict pool hours, or security enforcing wristbands. These are minor but can surprise guests. As an owner, communicate all rules clearly in your rental agreement to avoid surprises. Emphasize that pest control treatments happen monthly (Boardwalk does preventative pest control in every unit on a schedule – a good thing, but let guests know so they aren’t alarmed if told about it).

Leveraging Reviews for Marketing: Point out in your listings the recent upgrades or the unique perks of your unit (“completely renovated in 2024 – check out our 5★ reviews!”). Encourage satisfied guests to leave reviews highlighting what made their stay great (location, view, amenities). Over time, a Boardwalk unit with dozens of positive reviews on Airbnb will overcome the generic TripAdvisor reputation. High Airbnb ratings will also boost your search rank, leading to more bookings – a virtuous cycle.

Finally, be responsive to feedback. If multiple guests mention, say, a stiff mattress or a noisy A/C, invest in a new mattress or service the HVAC. As an investor, protecting the quality of your asset goes hand in hand with pleasing your customers (guests). Proactive maintenance and thoughtful little upgrades (beach gear for guest use, smart TV with Netflix, high-speed WiFi which Boardwalk now has upgraded to ~200Mbps) will reflect in reviews and justify premium rental rates.

Comparing Boardwalk to Bluewater Resort & Dunes Village

Investors often compare Boardwalk Beach Resort with other oceanfront options. Let’s look at how it stacks up against Bluewater Resort and Dunes Village Resort, two other Myrtle Beach oceanfront condos, to understand the competitive landscape:

Boardwalk Beach Resort vs. Bluewater Resort

Bluewater Resort is located about 20 blocks south (at 2001 S. Ocean Blvd) in Myrtle Beach, roughly 2 miles down the coast. It’s an older high-rise similar in age to Boardwalk, also converted to condos. Key points of comparison:

• Location: Bluewater’s south-end location is closer to the Airport and Myrtle Beach State Park, but farther from the central Boardwalk area. It’s convenient for those who prefer a slightly quieter section of beach. However, it lacks the “walk to downtown attractions” advantage. Boardwalk’s more central location near the Convention Center and promenade often translates into higher demand and occupancy, especially from guests who want to be in the middle of the action. Bluewater can sometimes get off-season monthly renters (snowbirds) who like the quiet south end, but those typically pay lower rates.

• Amenities: Bluewater has a decent amenity package (outdoor pools, indoor pool, hot tubs, an on-site restaurant and seasonal tiki bar, plus a game room). However, it lacks some of the scale of Boardwalk – for example, Boardwalk has a larger lazy river and more pools in total. Bluewater does have one perk: a seasonal beachfront bar that is popular in summer. Overall, families might rate Boardwalk’s amenities slightly higher (due to the lazy river and lawn).

• Unit Size & Layout: Bluewater’s 1BR units are generally smaller (around 450–600 sq ft) and many are true efficiencies (studio style) with separate bedroom not always fully walled off. Boardwalk’s 1BRs (~580 sq ft) aren’t huge either but often have two baths (some Boardwalk 1BR units were designed with 2 full bathrooms, which is a plus in rentals). Bluewater also offers some 2BR units, and even a rare 3BR, but their styles vary. Importantly, Bluewater condos also have all-inclusive HOAs (around $800-$900/mo for 1BR), slightly lower absolute cost than Boardwalk’s – partly because Bluewater units are smaller (less square footage to insure/maintain).

• Rental Performance: As mentioned, Bluewater’s typical 1BR gross rental might be ~$15k–$20k in a year, versus Boardwalk’s ~$25k–$30k. Bluewater’s peak summer rates are a bit lower and shoulder season occupancy can be softer due to location. For example, one Bluewater 1BR was noted to generate ~$17,000 in 2024. The ROI on Bluewater may still be good since purchase prices are a tad lower (often under $130k for a 1BR as of 2025). But Boardwalk likely edges it out on pure cash flow potential thanks to higher gross income.

• HOA/Management: Both resorts allow short-term rentals and have onsite management. Both have similar HOA inclusion of utilities. Neither has unusual restrictions on owners. One thing to watch: smaller resorts like Bluewater may have fewer units to share expenses, whereas Boardwalk’s larger size spreads costs (though Boardwalk’s amenities are also more extensive, hence higher HOAs).

Bottom line: Boardwalk tends to be a stronger draw for tourists due to location and slightly better amenities, yielding higher rental income. Bluewater is a viable alternative for budget-conscious investors looking at a lower price point entry, but one should expect proportionally lower revenue. If deciding between them, consider if you want the center-city appeal of Boardwalk (potentially more diverse guest pool: families, convention attendees, weekenders) versus the quieter vibe and lower cost of Bluewater (appealing perhaps to snowbirds or those who prioritize airport proximity).

Boardwalk Beach Resort vs. Dunes Village Resort

Dunes Village Resort (5200 N Ocean Blvd) represents the higher end of Myrtle Beach condo investing. Built in 2007, it’s newer and famous for its indoor water parks. Comparing it to Boardwalk:

• Location: Dunes Village is on the northern end of Myrtle Beach’s city limits, in a more residential upscale area. It’s not within walking distance of the downtown Boardwalk, but it’s in a quieter beachfront area loved by families. Guests often stay on the resort property given the abundance of on-site activities. Boardwalk’s downtown location offers a different experience (more off-site dining and nightlife accessible). Dunes is a destination unto itself. Investors may choose Dunes if they want the highest rental yields and don’t mind a higher price, or Boardwalk if they want a more affordable investment with still strong returns and a downtown land value component.

• Amenities: Dunes Village eclipses almost every resort in amenities: two indoor water parks totaling 30,000 sq ft, with big water slides, a silly submarine pool, lazy rivers, kiddie splash areas, etc.. Plus multiple restaurants, coffee shop, poolside cabanas, mini-golf, tennis courts, etc.. This makes it a magnet for families year-round. Boardwalk’s amenities are great but Dunes Village is on another level – and guests pay for it in higher room rates. As an investor, this translates to significantly higher gross rental income. It’s reported that Dunes Village offers owners the highest gross rental income on the entire Grand Strand.

• Rental Income and Prices: A 1BR at Dunes can gross ~$35k–$45k as discussed (with one example around $39,690), and 2BR units often $60k–$80k+. There are even 4BR condos at Dunes that can top $100k in annual rent. These numbers are far above Boardwalk’s typical range. However, the cost to buy in is also far above Boardwalk. Resale prices at Dunes start in the high $100s for even a 1BR (likely an interior view unit), and most oceanfront units are much more. For perspective, $300k might buy a premium Boardwalk lockout or two separate 1BR units at Boardwalk, versus only a smaller 1BR at Dunes. The HOA dues at Dunes are also high (to support those waterparks) and can run $800-$1000+/month for a 1BR, and higher for larger units. Yet, because the rentals are so strong, many investors accept that.

• Investor Profile: Dunes Village tends to attract more seasoned investors or those doing 1031 exchanges looking for a high-end property with maximum income. Boardwalk, on the other hand, attracts a mix – including first-timers and those looking for a value play. Boardwalk might also be more suitable for someone who wants occasionally to use the condo personally but be in town (to enjoy festivals, nightlife). Dunes Village owners often rarely use peak weeks personally because the rental rates are just too lucrative to block off.

• Performance Stability: Dunes Village’s brand and amenities can help it weather slow periods – e.g., during a cooler spring week, families might still come because the indoor water park means the kids won’t be bored even if it’s chilly outside. Boardwalk is more weather-dependent; if it’s cold/rainy, there’s less to do on-site (though plenty in town still). Thus, Dunes might have an occupancy edge year-round. However, Boardwalk’s downtown location can draw event crowds (Bike Week, marathons, conventions) that may not consider Dunes due to distance. So each has niche advantages.

Conclusion of comparison: Boardwalk Beach Resort sits between the basic older resorts and the luxury mega-resorts. It offers an excellent balance of affordability and high rental returns, especially when units are nicely updated. Bluewater is cheaper but yields less; Dunes Village yields more but costs significantly more. Many investors find Boardwalk to be a “sweet spot” – an oceanfront property that “nearly pays for itself” through rentals, with a combination of location and amenities that will remain in demand. It’s also worth noting Boardwalk’s land value (central oceanfront land) will likely appreciate over time as downtown Myrtle Beach continues to revitalize, providing long-term equity growth on top of the cash flow.

Financing, 1031 Exchanges & Investment Strategies

Investing in a condo-tel like Boardwalk Beach Resort requires careful planning in terms of financing and leveraging funds. This section provides specific recommendations and considerations for various strategies:

1. Traditional Financing (Mortgage Loans)

Financing an oceanfront condo in Myrtle Beach can be different than a primary home:

• Condotel Loans: Boardwalk is considered a “condotel” (condo with hotel-like features such as a front desk, short rentals, etc.). Many conventional lenders (Fannie Mae/Freddie Mac) won’t finance condotels, but there are local banks and portfolio lenders who will. Typically, expect to need a 20%–30% down payment for a condotel loan. Interest rates might be slightly higher and loan terms shorter (15 or 20-year amortization is common). Work with a local lender experienced in condo-tels.

• Interest Rates: As of 2025, interest rates are in the 6-8% range for investment condo loans (varying with credit and down payment). Ensure the projected net income covers the mortgage. The good news with Boardwalk: many investors do see positive cashflow even after debt service, due to the high rental income.

• Debt Service Coverage: Some lenders use a debt-service coverage ratio (DSCR) loan for investment properties. If the condo’s rental income can be shown (via history or a rental projection) to sufficiently cover the mortgage payments, it helps in approval. The rental history from the seller or management can support this.

• Using Home Equity: Another strategy is using a HELOC or cash-out refinance on your primary home to purchase the condo for cash. This can avoid the condotel loan hassles and possibly get a lower rate (since it’s secured by your home). Then your condo essentially has no mortgage – you just pay your HELOC. This works well for those with significant equity or retirement nearing, as it converts equity into an income-generating asset.

• Insurance Note: Lenders will require proof of insurance. In a condo, the HOA’s master insurance covers the structure, but you’ll need an HO-6 condo insurance policy (covers interior and liability). Budget a few hundred a year for that. It’s usually easily obtained since the HOA’s coverage is primary.

2. Using a 1031 Exchange

If you’re selling another investment property, a Section 1031 exchange can be a powerful move:

• Tax Deferral: A 1031 exchange lets you defer capital gains taxes by reinvesting the proceeds from the sale of one investment property into another “like-kind” investment property (which includes rental condos). For example, if you sell a rental house or a small multifamily building, you could exchange into one or several Boardwalk condos to defer taxes.

• Timeline and Process: You must identify replacement properties within 45 days of selling the old property and close within 180 days. Work with a qualified intermediary to handle the funds – you cannot take possession of sale proceeds. It requires planning, so start looking at Boardwalk listings early if you intend to 1031 into one. The good news is Boardwalk typically has multiple units for sale at any time (various sizes), so finding a suitable replacement property in the timeframe is feasible.

• Multiple Units: Because Boardwalk condos are relatively affordable, some investors sell one property and purchase multiple condo units. For example, sell one duplex for $400k and 1031 into two 1BR condos at ~$200k each. This can diversify your income (if one unit is vacant, the other still produces income) and possibly increase total return. Just remember, more units mean more HOA fees – ensure the combined income supports both.

• Upgrade or Consolidate: Conversely, an investor might sell several smaller condos and 1031 into one larger 2BR lockout with higher income (consolidating for simpler management). The flexibility of 1031 is great – just ensure the total purchase value is equal or greater than the sold value to maximize deferral.

• Exit Strategy: Eventually, if you want to cash out, you’ll pay taxes unless you keep exchanging (“swap till you drop”). But one strategy: convert the condo to personal use in the far future (after renting for say 5+ years to satisfy IRS rules), then it becomes a second home and later you could potentially qualify for some capital gains exclusion if you make it a primary residence. These are advanced moves – consult a CPA on this.

3. Self-Directed IRAs & 401(k) Rollovers

For those with substantial retirement savings, real estate IRAs are a way to invest in condos:

• Self-Directed IRA: You can use a self-directed IRA to purchase a condo like Boardwalk as an investment. The IRA (through a custodian) holds title to the condo, and all income goes back into the IRA, tax-deferred (or tax-free if it’s a Roth IRA).

• Important Rules: No personal use! If your IRA owns the condo, neither you nor your family can vacation in it – it must be purely investment. All expenses must be paid from IRA funds, and all rental income returns to the IRA. This means you need enough money in the IRA for purchase AND ongoing costs (HOA, repairs) or have a rental income cushion.

• Financing in IRA: It’s possible for an IRA to get a non-recourse loan (you can’t personally guarantee it), but typically IRA real estate deals are done in cash to avoid complications. So, it suits those who can buy outright within their retirement account.

• Solo 401(k): Similarly, if you’re self-employed, a Solo 401k plan can allow real estate investments. Some prefer this route as it can be more flexible than an IRA. You could even roll over funds from a traditional 401k into a self-directed IRA or Solo 401k to make the purchase.

• Advantages: All rental income grows tax-deferred in the retirement account. It’s a way to diversify your retirement portfolio into real estate, which historically appreciates and provides income. Over 10-20 years, the condo could be paid for and generating significant cash – then at retirement, you start taking distributions (or even distribute the property out of the plan).

• Considerations: You won’t benefit from depreciation tax write-offs personally (since IRA doesn’t pay taxes yearly), and you must be very careful to avoid prohibited transactions (like paying yourself to manage it – don’t do that). Many investors find it worthwhile though, especially if they don’t need to touch that IRA money for a long time.

4. Converting Business Proceeds to Real Estate

Small business owners planning to exit their business often look to real estate as a safer, passive income generator:

• Sale of Business: If you sell a business (that did not include real property), the proceeds unfortunately do not qualify for a 1031 exchange since that’s not real estate. However, you will likely have capital gains or a lump sum that you can then choose to invest. Many owners decide to purchase income properties like vacation condos to essentially “live off the rental income” in retirement or semi-retirement.

• Partial 1031 (Real Estate Portion): If your business owned its building or property, that portion of the sale can be 1031 exchanged. For example, you sell your company along with the office building it owns – allocate the building’s sale price and exchange that into condos. The rest of the business sale proceeds (goodwill, etc.) you’ll pay tax on and can invest normally.

• Strategy: With a business sale windfall, you could pay cash for a couple of Boardwalk units, immediately generating cash flow without financing risk. This gives you a more hands-off income source versus the active income of running a business. It’s important to plan for management – either hiring a property manager or learning the ropes of Airbnb. Many former business owners apply their management skills to run their rentals professionally and successfully.

• Retirement Account Contribution: Another angle – after selling a business, you might contribute some proceeds to retirement accounts (to reduce tax) and then use a self-directed plan as above to invest in a condo. Or simply invest post-tax money directly.

• Diversification: Some advisors suggest not putting all your eggs in one basket. So, an owner selling a business for, say, $1M might allocate a portion to stock index funds, a portion to bonds, and a portion to real estate. Owning one or two Myrtle Beach condos can be a stable part of that mix, providing a hedge against inflation (rents can rise) and a tangible asset you understand. The appeal of a condo is also personal – you could use it occasionally (within IRS guidelines if it’s not in a retirement account, personal use is fine up to a certain amount if still primarily for investment).

5. Other Creative Strategies

• House Hacking (Condo Hacking): Buy a 2BR lockout unit. Use one side occasionally for yourself and rent the other side out full-time. This way, you still get some personal enjoyment at essentially no cost, because the rental from the other side covers a chunk of expenses. Just be mindful: to maximize profits, it’s best to rent both, but some investors do like a hybrid approach especially if they plan to retire in Myrtle Beach eventually. Owning a condo now that pays for itself and is available for future extended stays is attractive.

• Refinance and Expand: After a few years of ownership, if the property appreciates, consider refinancing (cash-out) to buy another unit. For example, if your $200k condo becomes worth $250k, you might refinance to pull out $30k and use that as down payment on a second condo. Many investors build a small portfolio this way – leveraging equity growth.

• Professional Management vs Self-Management: Decide early which route yields better returns for you. On-site or third-party management will reduce your hands-on time but take ~20-40% of gross revenue (depending on fee structure). Self-managing on Airbnb can save that commission, effectively boosting your income by that amount, but it requires time and responsiveness. If you enjoy the process or live nearby (or can coordinate cleaners remotely), self-management can significantly increase your ROI. If you prefer purely passive income and have other focuses, a reliable manager can make this investment almost as easy as receiving a monthly check. Seasoned investors often start with professional management to learn the ropes, then switch to self-management once they’re comfortable, to squeeze more income.

Common Investor Concerns & How Boardwalk Addresses Them

Finally, let’s tackle some common concerns investors have about buying at Boardwalk Beach Resort, and how you can mitigate them:

• “What if the unit gets bad reviews due to issues?” – As discussed in the reviews section, the power is in your hands to ensure a positive guest experience. By renovating the unit to modern standards, using professional cleaning, and promptly addressing maintenance (the HOA covers a lot of building maintenance, but your unit’s interior is your responsibility), you can avoid negative guest experiences. Many Boardwalk owners boast high repeat business because they keep their condo in top shape. The HOA management handles the building’s common elements, so you mainly manage what’s inside your unit. Consider investing in amenities like keyless entry, fresh décor, comfortable mattresses, and a local contact for emergencies. This way, even though some other units in the resort might get bad reviews, yours will stand out with 5-star reviews, driving more bookings.

• HOA Special Assessments: It’s a fear that an older resort might slap a big assessment (e.g., for structural repairs or a new roof). Boardwalk did a large renovation in mid-2000s during conversion, but as of 2025, keep an eye on possible projects (e.g., exterior repaint, modernizing elevators). To address this, stay active in the HOA, attend meetings (or read minutes), and keep a reserve fund in your finances. It’s wise to set aside a small percentage of rental income each year as a cushion. That way if an assessment comes (say $5k), it won’t derail your investment. Also, Boardwalk’s HOA historically has been proactive in upkeep – including preventive pest control, pool maintenance, etc., which can prevent bigger problems. Remember, any oceanfront building will need periodic investment; the key is that rental income typically grows over time to offset these costs (you can incrementally raise your rates as your unit improves or area demand increases).

• Resort Reputation: Some worry that Boardwalk’s average online rating might deter renters. In practice, individual listing reviews matter more to Airbnb/VRBO renters than the hotel’s TripAdvisor rating. When you market your condo, you are building your own brand (“Oceanfront Condo - Gorgeous Renovated Boardwalk Resort Unit!”). Many travelers book through listing platforms where they read your unit’s reviews, see your photos, and might not even realize it’s part of a larger resort with a different rating. And those who do research the resort will also see positive recent comments about the great pools and location. By acknowledging the resort is older but highlighting your unit’s improvements and the still-great amenities, you can turn it into a selling point (e.g., “enjoy all the perks of a large resort at a fraction of the cost of newer resorts – our unit is freshly updated for your comfort!”). Additionally, the resort has made efforts to improve – for example, upgrading WiFi and keeping grounds clean – which many guests have noted as improvements in recent years.

• Seasonality and Income Fluctuations: Investors from out of area may be concerned about the extreme seasonality of Myrtle Beach. Yes, it’s true that July might bring in 3-4 times the revenue of January. The concern is covering costs in the low season. Boardwalk addresses this by having amenities that draw off-season guests (indoor pools, etc.) and being near the Convention Center, which hosts winter events that can fill rooms. For instance, Myrtle Beach hosts winter cheerleading competitions, dance conventions, car shows, and conferences. Many of those attendees look for affordable oceanfront condos in January-March. Boardwalk’s proximity (about 0.5 mile) to the Convention Center means you can capture some of that business, which many purely summer resorts farther away can’t. Also, monthly winter rentals are an option – many retirees from up north rent oceanfront condos from Nov to March. While the monthly rate is lower than peak, it provides steady cash. A Boardwalk 1BR might rent for $1,000-$1,200/month in winter to a snowbird (covering HOA and a bit more). By combining event weekends, monthly snowbirds, and perhaps personal owner use strategically, you can mitigate the slow season impact. Proper budgeting (saving summer profits to cover winter bills) will alleviate concern here. Seasonality is a feature, not a bug – you get peak rates in summer to compensate for the off-season.

• Exit Strategy: “What if I need to sell or exit?” The resale market for Myrtle Beach condos is generally liquid, but can be sensitive to interest rates (since many buyers finance). Boardwalk units, being affordable, often find buyers even in softer markets because they’re entry-level oceanfront investments. The presence of the on-site rental program means even totally hands-off buyers (who want a vacation home they occasionally use and rent via onsite program) are in the market for these units. To maximize resale value, keep your unit updated (it will show better and fetch a higher price relative to dated ones) and try to sell heading into a peak season (when new buyers can be enticed by already-booked rentals and immediate income). Having solid documented rental history (and good reviews) actually becomes a selling point – you can literally show prospective buyers “this condo earned $30k last year”, which can hasten a sale. Also, remember the broader trend: Myrtle Beach oceanfront real estate historically appreciates over the long term as land becomes scarcer and construction costs rise. So holding for several years usually yields a gain, especially if bought at a good price initially.

In summary, Boardwalk Beach Resort addresses investor concerns by offering a well-located, amenity-rich property with proven rental demand and a supportive HOA structure. By proactively managing your individual unit and leveraging the resort’s strengths, you can turn potential negatives into opportunities. Many investors have started with a Boardwalk unit and found it to be a springboard to further real estate ventures along the Grand Strand – it’s a manageable, high-yield investment when approached with diligence and realistic expectations.

Conclusion

Investing in an oceanfront condo at Boardwalk Beach Resort in Myrtle Beach can be a profitable and rewarding venture. The resort’s combination of central location, family-friendly amenities, and solid rental history make it stand out as an ideal option for those looking to get into short-term vacation rental investing on the Grand Strand. Whether you’re a first-time investor converting your savings into a cash-flowing asset, a seasoned real estate investor diversifying your portfolio, or a business owner transitioning into semi-retirement income, Boardwalk offers a compelling mix of affordability and income potential.

By understanding the gross rental income ranges (e.g. studios ~$18k, 1BR ~$30k, 2BR ~$60k+ per year), factoring in the all-inclusive HOA fees, and positioning your unit to earn top-tier guest reviews, you set yourself up for success. Compare your options – you’ll find Boardwalk often hits a sweet spot between lower-end resorts like Bluewater (lower cost, lower income) and high-end ones like Dunes Village (high cost, high income). As an investor guidepost: Myrtle Beach condo investing is about balancing purchase price, HOA costs, and rental revenue to achieve a healthy return. Boardwalk Beach Resort, with its iconic oceanfront towers and steady tourist draw, has shown time and again that “those numbers work” when you buy smart and manage smart.

Before diving in, do consult with local real estate professionals, lenders, and tax advisors as needed – but armed with the data and insights from this guide, you’re well on your way to making an informed decision about investing in Boardwalk Beach Resort. Here’s to your success in Myrtle Beach oceanfront real estate investing and enjoying both the profits and perhaps a few ocean sunrises along the way!

Sources:

• Myrtle Beach Condo Investment FAQs and Data

• Boardwalk Beach Resort Property and HOA Details

• Resort Amenities and Location Info

• Rental Income Comparisons (Boardwalk vs Others)

• Guest Review Insights (TripAdvisor, VRBO)

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.