Encore Luxury Residences

About Encore Luxury Residences

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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present Encore Luxury Residences, a newly constructed 240-unit, Class-A multifamily community located in Little River, South Carolina within the North Myrtle Beach submarket. Delivered in 2024, the property features best in class amenities, modern interiors, and elevated finishes that deliver a high-quality living experience defined by comfort, design, and functionality. Since delivery, Encore Luxury Residences has demonstrated consistent occupancy growth supported by strong demand fundamentals and improving lease economics. Leasing momentum remains strong across the primary floorplans, with both the one-bedroom and smaller two-bedroom units generating lease rates above the property’s current average rents, underscoring continued pricing strength and healthy demand across the asset’s core product types.

Encore Luxury Residences is strategically positioned within a highly supply-constrained submarket, with no proposed traditional multifamily developments of 150 units or more within a 10-mile radius, excluding build-to-rent communities. This limited pipeline significantly reduces future competitive pressure and supports long term rent and occupancy stability. Market fundamentals across the North Myrtle Beach region remain favorable, with effective rents projected to increase steadily over the coming years. Annual rent growth is expected to average more than 3% over the next five years and accelerate to approximately 5.6% by 2030. Average household income within the submarket is approximately $96K, supported by a highly stable renter base and continued in migration into the coastal region. Located in Little River, Encore Luxury Residences benefits from direct access to the Grand Strand’s coastal lifestyle amenities, including waterfront dining, marinas, golf courses, and retail centers, enhancing its appeal to both local renters and inbound migration households seeking coastal living.