1126 Ocean Boulevard, Isle of Palms, SC 29451
$292,000
Property Type:
Residential
Bedrooms:
1
Baths:
1
Square Footage:
296
Status:
Active
Current Price:
$292,000
List Date:
1/11/2024
Last Modified:
2/29/2024
Description
Opportunity to buy into ownership at the beautiful Palms Hotel, one of only two ocean front hotels front beach area Isle of Palms. This is offering for a hotel room as part of Palms hotel. Owner must participate in hotel management agreement. Offering at list is over a 7.25 % NOI. This is NOT an opportunity to move into the property. This is buying a room in a fully operational ocean front hotel. Owners have limited use, up to 28 days total annually. 3 month hoa fee contribution due at closing from buyer as working capital contribution. Hotel room offered here is an interior unit NOT ocean front or view. Opportunity to affordably own a piece of isle of palms, collect income from hotel operations, after expenses. Pictures are of hotel property, and room. Viewings are limited.
Supplements: Hotel Rooms are not eligible for most traditional forms of financing. Most all sales on this product are in cash.
More Information MLS# 24000860
Contract Info
Sub-Type: Single Family Attached
MLS List Date: 2024-01-11
Status: Active
List Price: $292,000
Current Price: $292,000
Location, Tax & Legal
Tax Map #: 5681100430
Street #: 1126
Street Name: Ocean
Street Suffix: Boulevard
County: Charleston
State: SC
Zip Code: 29451
Area: 44 - Isle of Palms
Tax District: 24 - City of Isle of Palms
Subdivision: None
Elementary School: Sullivans Island
Middle School: Moultrie
High School: Wando
Legal Description: THE PALMS HOTEL Description -UNIT 309
Directions: Front beach Isle of Palms just to left of Coconut Joes
General Property Info
Bedrooms: 1
Baths - Full: 1
Baths - Total: 1
Stories: 3
Primary Structure Apx SqFt: 296
Ownership: Condominium
Year Built: 2000
Other Structures Y/N: No
Potential Short Sale: No
C/R: Yes
Lease Purchase: No
HOA Fee: Yes
HOA Frequency: Monthly
HOA $: 364.58
Auction: No
Tax/Fees
Special Assessment: No
Taxes: 997.54
Regime Fee: No
Regime Fee Freq: Annually
Office/Member Info
Buyers Agency Compensation: 3
Buyers Agency Compensation Type: %
Property Features
SqFt Source: Previous Listing
SF Attached Style: Condo Regime; Condominium
Lot Description: Beach Access; Beachfront
Misc Exterior: Pool - Elevated
Foundation: Elv. Construction
Garage/Parking: Other (Use Remarks)
Stories/Levels: 3 Stories
New Owned: Pre-Owned
Cooling: Central Air
Water/Sewer: Public Sewer; Public Water
Heat: Electric
Possession: Tenants Rights
Utility Suppliers: Dominion Energy; IOP W/S Comm
Proposed Financing: Cash; Other (Use Agent Notes)
Assumable: No
Listing Office: The Peninsula Company, LLC
Last Updated: February - 29 - 2024
The listing broker’s offer of compensation is made to participants of the MLS where the listing is filed, as well as participants of MLSs via the Southeast MLS Alliance data share.
Broker Attribution:
843.412.2221
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