A hotel near the oceanfront with a pool is for sale in Myrtle Beach. What’s the price?

A downtown hotel near the Myrtle Beach oceanfront is for sale.

The hotel, a 60-room property built in 1966 at 806 South Ocean Blvd. , is listed on the commercial real estate platform LoopNet for $5.99 million.

The property— which doesn’t have a name listed on LoopNet, although Google Maps referred to it as ‘Bob’ — previously sold for $3.73 million in 2023 after also being bought for about $3.38 million in 2021, according to Horry County Land Records.

The listing adds that the hotel might get converted for multi-family use. The 60-room hotel listing comes as converting short-term rentals for more year-round uses has become an issue currently under examination.

The City of Myrtle Beach began a nine-month moratorium on converting short-term rental properties into long-term ones that last longer than 90 days. The moratorium, which encompassed properties between the intersection of Highway 17 and Oceans Blvd. and Grande Dunes Blvd. , intended for the city to study how conversions were impacting the local economy.

In April 2024, the now-retired City of Myrtle Beach Director of Public Information Mark Kruea said that the Chamber of Commerce claimed for every 1,000 short-term rentals turned into a long-term option, the area lost $5.7 million in economic impact.

Myrtle Beach enacted the freeze in April 2024, and the proposal stated the halt would last for 270 following approval, which could be extended Kruea added in April 2024.

Indeed, the hotel is within the zone that allows short-term rentals, and the moratorium includes, according to a City of Myrtle Beach map. The moratorium has already stopped hotel owners from converting their properties into long-term rental spaces. The Yachtsman Resort at 1304 North Ocean Blvd. was intended for long-term rental conversion when a Los Angeles-based investment firm, Hybridge Capital, purchased it in February 2024.

However, the moratorium halted plans to do so, said Hybridge Capital Managing Partner Max Mellman in a February 2024 interview.

“Getting people to stay in Myrtle a year-long will enhance businesses throughout. There’s a ton of people moving to Myrtle, and they can’t afford to buy a house, so why not live on the beach in a long-term rental?” He said then. “I’ve never, in my career, heard of a city preventing long-term rentals. First I’ve ever heard of it, and I understand the premise behind it, but it is having the opposite effect in stopping Myrtle’s growth in general, and it’s sad.”