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1300 Osceola St. - Myrtle Beach, SC 29577
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PROPERTY OVERVIEW
Monticello Park is a 192-unit affordable housing community located in Myrtle Beach, SC. The property is conveniently located minutes from major retailers, including Target, Sam’s Club, and Lowe’s. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well.
The property was built and placed in service between 2004 - 2008 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. Twelve of the units are unrestricted and there are existing regulatory agreements in place which require the remaining units to be rented to income qualifying residents earning no more than 50% & 60% of the Area Median Income (AMI) limits, which are provided by the South Carolina State Housing Finance and Development Authority.
Monticello Park offers one, two, and three bedroom apartment homes featuring dishwashers, air conditioning, and washer/dryer connections. Community amenities include laundry facilities and a playground.
Potential to take through the qualified contract process, providing significant rental upside with $700+ discount to market rate assets
Stable operations resulting in a vacancy rate below 2.5% in 2024
Myrtle Beach is a vibrant, high-growth market with a projected population growth of 23% within three miles of the property between 2024 and 2029, per CoStar
Myrtle Beach-North Myrtle Beach-Conway, SC MSA has experienced fantastic income growth as evidenced by the HUD four-person median family income increasing from $57,400 in 2020 to $79,700 in 2024
INVESTMENT HIGHLIGHTS
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
601 Union St.
Suite 3909
Seattle, WA 98101
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Sam Kasteler
Associate Director
Affordable Housing
UT License #14126557-SA00
253.355.1521
sam.kasteler@berkadia.com
INVESTMENT ADVISORS
Mark Boyce
Managing Director
Multifamily
SC License #22019732
678.548.6621
mark.boyce@berkadia.com
Managing Director
Multifamily
SC License #121822
314.607.3481
caleb.troop@berkadia.com
Caleb Troop
774 S. Shelmore Blvd.
Suite 105
Mount Pleasant, SC 29464
Mount Pleasant Office
MORTGAGE BANKING
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
Associate Director
817.821.9559
jack.leonhard@berkadia.com
Jack Leonhard
192
UNITS
2004 -2008
Built
217,292
sF
Senior Director
Multifamily
SC License #93629
843.628.3766
blake.coffey@berkadia.com
Blake Coffey
Director of Operations
Affordable Housing
CA License #02251798
208.296.2073
jordan.baird@berkadia.com
Jordan Baird
Senior Director
Affordable Housing
WA License #22019732
425.999.1152
adam.tomberg@berkadia.com
Adam Tomberg
Director
Multifamily
NC License #332976
901.603.8590
thomas.colaiezzi@berkadia.com
Thomas Colaiezzi
Multifamily
Associate
NC License #346395
919.812.3174
matt.robertson@berkadia.com
Matt Robertson
Photo GALLERY
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
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