Condo: Sea Winds # 605: 06/14/2012

Condo … Tax ID # 156-06-35-101
 
$179,500 … 10% ($20,000) Below Sales (Avg.)
Sold $179,500
4719 S. Ocean Blvd., Sea Winds #605

North Myrtle Beach, SC 29582
 
3 BRs, 2 Baths, 1064 GLA (Htd. SqFt)
Built 1985. 25 Min. to Airport.

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Sea Winds, built 1985, is an eight-story, oceanfront, 68-unit project in the Windy Hill section of North Myrtle Beach. Most units have two or three bedrooms. Compared to newer oceanfront highrise projects, the amenities are limited with only an indoor pool and spa as well as a picnic and barbecue area outside. The HOA is managed by Pinnacle, 843-449-8103.
 
This is a Lender Approved Short Sale. Ordinarily, we shy away from short-sale listings as they typically take months to close, and there’s an inordinate amount of bank negotiating. But (a) this is listed as “Lender Approved” and (b) MLS states approval will be obtained within 48 to 72 hours.
 
We found few recent sales of similar-age 3-BR oceanfront units in North Myrtle Beach. Most recently, a 3-BR unit at the subject project, Sea Winds #405, in the same unit stack as the subject, sold for $200,000. Currently in MLS, the lowest priced 3-BR active listing in the subject project is unit #309 for $189,900 (MLS #1206419). However, and this is important, the view from unit #309 is significantly inferior to the subject’s view. The subject building is shaped like a double-L, and condos in unit stacks 07, 08, and 09 are set back from the beach with their northern coastline view obstructed as well as an inferior view of the southern coastline (compared to the subject unit). After unit #309, the next lowest priced 3-BR is unit #504, listed at $234,900.
 
We have measured and have on file this floor plan. If you’re interested in this property, let us know, and we can email you the floor plan and project layout.
 
Sea Winds #605, 3 BR/2 Bath, 1064 GLA, listed at $179,500
Compared to Recent Sales:
 

Property Address
BRs/ Baths
GLA (SqFt)
Year Built Sales Price Closing Date Data Source MLS #
Atlantic Dunes #203
929 S. Ocean Blvd.
3/2
1075
1985 $238,000
04/09/2012 1204611
Sea Winds #405
4719 S. Ocean Blvd.
3/2
1064
1985 $200,000 03/23/2012 919508
Waterpointe I #202
4619 S. Ocean Blvd.
3/2
962
1984 $175,000 04/27/2012 1115988

 
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Lender Approved Short Sale

MLS #1208308
Listing Agent: Denise Thompson
Myrtle Beach Real Estate LLC