Condo: Coral Beach #320: 08/11/2012

Condo … Tax ID #181-13-03-042
 
$44,900 … 39% ($29,200) Below Recent Sales (Avg.)

Note: Interior has Mold or Mildew
Sold $43,500 Cash
1105 So. Ocean Blvd., Coral Beach #320
Myrtle Beach, SC 29577
 
1 BR, 1 Bath, 675 GLA (Htd. SqFt)
Oceanfront. 10 minutes to airport

This property was hand-picked for The Certifax Report; it has since sold. These deals often go contract pending within days of our reporting. If you want our research, analysis and alerts so you can act fast, subscribe here.

 
Coral Beach was originally built as a hotel around 1986 and converted to condominiums around 2005. This project is operated as a hotel with a front desk, conference facilities, on-site restaurant, pool bar, sauna and steam rooms, indoor pool, guest laundry and bowling center.
 
Coral Beach is in a touristy section of Myrtle Beach with amusement parks nearby.
 
The subject is a foreclosure unit that apparently was closed up with no air conditioning for an extended period of time. Now there appears to be either mold or mildew in the unit. It may be necessary to remove and replace all furniture and interior finishes. Factor that into the cost of this property.
 
Currently in MLS, the next lowest priced 1-BR unit is priced at $75,889 (MLS #1205501).
 
Coral Beach #6320, 1-BR, 1 Bath , 675 GLA, listed at $44,900
Compared to Recent Sales:

Coral Beach Condo Sales BRs/ Baths GLA (SqFt) Sales Price Closing Date Data Source MLS #
Unit #410 1/1 525 $74,310 06/29/2012 1209145
Unit #1232 1/1 575 $74,000 04/25/2012 1105566
Unit #1036 1/1 575 $74,000 12/30/2011 1105565

 
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Bank Owned
MLS #1211456
Listing Agent: Paige Bird
RE/MAX Ocean Forest