Our Company, Hammock Coast Properties, was created to purchased multi door rental properties. From multifamily units to Short term rental properties. The above project is a small hotel that has been renovated in 2022 and converted into a Short Term Rental. No onsite staff. Outside management company handles all booking, website and maintenance. The seller is asking for 20% down and will finance the balance. The property boasts a 12.44% CAP rate. We re looking for an investor for the 20% down payment.
Lily and Bloom
INVESTMENT HIGHLIGHTS
- 2022 Remodeled turn-key Hotel
- Walking Distance to all of Myrtle Beach Ocean Blvd Attractions
- Wifi / Pool / Starbucks across
- Direct ocean view and access
- Over 14 million visitors every year!
Lily&Bloom, a boutique hotel located in the heart of Myrtle Beach. The hotel underwent a complete renovation in 2022, which included new exterior stucco, railing, windows, doors, sliding doors, automatic locks, lights, and an updated pool. The interior was also renovated with new flooring, paint, and finish, vanities, furniture, light fixtures, high-speed wifi, and more.
Lily&Bloom features 26 rooms, including 20 double beds and 6 single-bed rooms. The hotel is managed by a professional hospitality management company, making it ideal for a remote owner. Operating expenses are significantly reduced due to the absence of an on-site office.
Located on the famous Ocean Blvd, Lily&Bloom is just one block away from the boardwalk and the beach. It is situated across from multimillion-dollar hotels Bay View and Homewood Suites By Hilton. Myrtle Beach's main attractions, such as the Sky Wheel, 14th Ave Pier and Restaurant, 2nd Ave Pier, Pavilion Park, Family Kingdom amusement park, and more, are all within walking distance. 2 Blocks from the mega-development the City of Myrtle Beach is planning.
Lily&Bloom is a perfect investment opportunity for an investor who is looking for a stabilized and income-producing property.
Invest in this turnkey boutique hotel located in the thriving market of Myrtle Beach, boasting over 14 million annual visitors.
FINANCIAL SUMMARY (PRO FORMA - 2024)
ANNUAL Gross Rental Income | $546,000
ANNUAL PER SF| $84.00
Effective Gross Income | $546,000 | $84.00
Taxes | $50,126 | $7.71
Operating Expenses | $128,677 | $19.80
Total Expenses | $178,803 | $27.51
Net Operating Income | $367,197 | $56.49
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