Oceanfront home with a cabana lot is for sale in Myrtle Beach. What’s the price?
A house in Myrtle Beach’s Golden Mile has been put on the market.
The house, located at 5725 North Ocean Boulevard, was listed by Voyage, a Charleston-based real estate company that uses its website to auction luxury properties. Built in 2019, the oceanfront property includes five bedrooms, three and a half baths and stainless steel appliances. The house also comes fully furnished, according to the listing.
The 4,162-square-foot property also has its own lot on Cabana Row, a coveted string of smaller structures along North Ocean Boulevard that provide its owners with an area cool off when they get off the beach.
The city prohibits people from living in the cabanas and instead are used as a way for owners to get some shade or go inside during their beach day. Some of the cabanas include bathrooms, a kitchen or even air conditioning.
How this sale works
The sale functions differently from what is considered a traditional listing.
Instead of putting a property on the market for an indefinite period of time, Voyage sets up an auction system, where interested buyers have a set amount of days to put in a bid for the property.
Once the auction has ended, the seller can decide whether they will reject the final number, Voyage President Alex Bourland said.
Golden Mile property auction
The Golden Mile property’s auction began on May 13. The starting bid is set at $1.5 million, but that’s not the same as the asking price in a traditional listing, Bourland said.
Voyage starts its bidding at a lower price, but ends up selling for what is the typical market value. The property hasn’t had any bids so far, but Bourland said that isn’t uncommon.
Other homes similar to this listing have gone for more than $4 million in the past, according to previous reporting by The Sun News.
The auction for the property will close on June 4 at 1 p.m. Voyage will have two more open houses — one on May 23 and the other on May 30.
