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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
|Unit # 208
|Unit # 1605||3/3||1,825||$315,000||02/22/2012||1116955|
|Unit # 605
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Lender Approved Short Sale
Leonard Call – Kingston
Listing Agent: Eric Miller, REALTOR