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    Renovated Multifamily Building on Ocean Boulevard Title is generated by Realmo AI

    2010 S Ocean Blvd., Myrtle Beach, SC 29577

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    Claim this Listing
    For Sale
    $6,750,000

    MULTI_FAMILY - Myrtle Beach, SC

    Property size:
    25,011 SF
    Lot size:
    0.70 Acres
    Price / SF:
    $269/SF
    Added:
    Jan 8, 2026
    Days on Market:
    139
    Last Refresh:
    May 27 at 8:06 pm

    Property Features for 2010 S Ocean Blvd.

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Size
    25,011 SF
    Lot size
    0.70 Acres

    Utilities

    Utilities
    Cable Available

    Building Details

    Year built
    1968
    Number of units
    67

    We can help!

    Listing Contact
    Liat Edri
    Liat Edri

    Listing agent Liat Edri License #59354

    Listing office Realty ONE Group Dockside Myrtle Beach, SC

    Listing date Jan 8, 2026

    MLS# 2600580 Listing URL

    Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Direct Ocean Boulevard location in a desirable Myrtle Beach market, steps from the Atlantic Ocean.
    • Fully renovated in 2023‑2024 with comprehensive upgrades including plumbing, fire safety, interior, and exterior enhancements.
    • 68‑unit multifamily property offering a mix of One bedroom and Studio units.
    • Includes an additional parcel utilized as a parking lot, totaling approximately 0.70 acres.
    • Turnkey investment opportunity with detailed financial documents available for qualified buyers.
    • One of the few multifamily buildings allowed on Ocean Blvd.

    Overview

    Located at 2010 S. Ocean Blvd in Myrtle Beach, SC, this multifamily property features 68 units and has been fully renovated between 2023 and 2024. The property occupies a corner lot and includes an additional parcel used as a parking lot, totaling approximately 0.70 acres. The property is located in a desirable market, steps away from the Atlantic Ocean. The property offers one-bedroom and studio units. Renovations include new PEX water lines, a new sprinkler system and fire alarm, serviced standpipes, drywall and interior painting, replacement of kitchen cabinets and countertops in most units, and new PTAC AC units. Exterior enhancements include exterior painting and stucco. Mechanical systems have been updated with elevator repairs and a new 120-gallon boiler. A new parking lot has been developed, and landscaping has been completed. Appliances have been upgraded throughout the units. The building is one of the few multifamily buildings allowed on Ocean Blvd.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rosen Sea Hotel Hotel & Motel Ocean breeze Hotel Hotel & Motel Nameless Art Studios Art Studio The Rusty Reel Bar & Pub

    Suggested Use

    Law Firm Real Estate Agency Spa & Massage Center Restaurant Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.906572
    Latitude
    33.669438

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    FAQs

    What type of property is this?
    Apartment building - Fully renovated 68-unit multifamily property directly on Ocean Boulevard.
    Where is this apartment building located?
    The property is located at 2010 S Ocean Blvd. Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $6,750,000.
    What are key features of this property?
    This property features: Direct Ocean Boulevard location in a desirable Myrtle Beach market, steps from the Atlantic Ocean.; Fully renovated in 2023‑2024 with comprehensive upgrades including plumbing, fire safety, interior, and exterior enhancements.; 68‑unit multifamily property offering a mix of One bedroom and Studio units.
    (843) 222-6357
    We can help!
    Listing Contact
    Liat Edri
    Liat Edri
    Real Estate License ID: 59354
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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