Condo: Royale Palms at Kingston Plantation #1707: 07/04/2012

Condo … Tax ID # 166-03-35-129
 
$275,000 … 12% ($30,000) Below Recent Sales (Avg.)
Sold $275,000
9994 Beach Club Dr., #1707 Royale Palms @ Kingston Plantation

Myrtle Beach, SC 29572
 
3 BRs, 3 Baths, 1825 GLA (Htd. SqFt) Built 2007

Oceanfront Building, Condohotel, 20 minutes from airport

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Royale Palms is a 184-unit oceanfront highrise physically attached to the Hilton Myrtle Beach Resort, and many owners rent their units through the Hilton and nearby Embassy Suites Hotel.
 
Most lenders perceive this project as a condohotel, and thus financing sources are limited.
 
Royale Palms is adjacent to and considered part of Kingston Plantation, an established, upscale, 145-acre gated oceanfront community. All condos. No single family homes. Within Kingston, the oceanfront is lined with highrise condo projects. Elsewhere within Kingston Plantation are fresh-water lakes and lowrise condominiums. Kingston Plantation is located between Myrtle Beach and North Myrtle Beach, about a 20-minute drive from the airport.
 
**IMPORTANT** This is a lender-approved short-sale listing. Reportedly, the lender has approved the price of $275,000. However, please note the subject already has a pending contract. The buyer is becoming impatient with the long, drawn-out process of closing this transaction (it’s been ongoing for more than four months), and the buyer is threatening to walk away from the contract. Thus, the seller is accepting back-up offers.
 
Royale Palms @ Kingston Pltn. # 1707, 3 BR, 3 Bath , 1825 GLA, Built 2007, listed at $275,000
Compared to Recent Sales:

Condos in Royale Palms BRs/ Baths GLA (SqFt) Sales Price Closing Date Data Source MLS #
Unit # 1206 3/3 2,075 $347,500 06/21/2012 1206807
Unit # 2306 3/3 2,075 $310,000 06/13/2012 1105939
Unit # 807
3/3 2,025 $310,000 05/25/2012 1207973
Unit # 208
3/3 1,875 $280,000 02/22/2012 1119656
Unit # 1605 3/3 1,825 $315,000 02/22/2012 1116955
Unit # 605
3/3 2,125 $320,000 02/20/2012 1116195

 

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Lender Approved Short Sale

MLS #1103228

Leonard Call – Kingston
Listing Agent: Eric Miller, REALTOR