Coral Beach Foreclosures
Coral Beach Resort Foreclosures
Condos in Coral Beach are always a popular for people coming on vacation to Myrtle Beach. The reason is because of all of the amenities the property has. The have a bowling alley, arcade, restaurant, indoor and outdoor pools, cabana bar, on-site gym and a lot more.
The problem with Coral Beach Resort is the same problem a lot of resort is having. The property was converted to condos at the peak of the Myrtle Beach condo boom. Back in 2005-2006 Coral Beach condos were sold for well into the mid – $200s.
While rental incomes for Coral Beach condos are high compared to similar age and size resort the rental incomes were not enough to support the prices the units originally sold for. As of this blog post these condos are available for about 35 cents on the dollar (of what they originally sold for).
The resort has several different layouts as far as furniture goes. Some of the “shot gun” one bedrooms have 2 double beds and others have a king sized bed. if you are planning to rent your condo out through the on-site rental management office you will need to keep the designated configuration. To my knowledge there are only 3 different floor plans. All of the direct ocean front condos are considered 1 bedroom units. The end units are a little larger and are real traditional 1 bedroom condos and have 2 balconies. The angled condos are all studio units.
Coral Beach is a Condotel by any definition you can find. For more information on Coral Beach Contact us
