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Address:
1126 OCEAN BLVD, #225
Isle of Palms, SC 29451
Type: Investment Property
Floors: Single Story
Bedrooms: 1
Baths: 1
Square Feet: 414
Year Built: 2000
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Description:
This 2nd floor unit is a great opportunity to own a little piece of heaven on the front beach of Isle of Palms. Interior Units start at 259,000. ~The Holiday Inn Express is now being converted to a Condo-Tel called The Palms Hotel. Prices start at $259,900 to 399,000. All Ocean front units include pull out sofa, wet bar, refrigerator, microwave and coffee maker. New high-end bedding will be refurbished to all units at closing. Enjoy a free daily deluxe breakfast each morning. 56 separate units are now available under this listing. After the units are sold The Palms Hotel will continue to operate as a beach front hotel in the future. No changes to day-to-day operations will occur. Individual owners will become a 1/68th owner in a horizontal gross regime. Fee splits are 62% for owners to 38% for the existing management companies. Individual units average $29,000-$41,000 gross revenue per a year. Individual units may be structured as an income stream for 1031 like/kind exchanges.
Features:
- Main Floor Bathroom
- Central Air
- Forced Air
- Main Floor Bedroom
- Spa/Hot Tub
- Swimming Pool
| Community Features:
- Spa/Hot Tub
- Exercise Area
- Security Features
- Swimming Pool
- Golf
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