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Value-Add Multifamily Investment Property

301-303 27th Ave. S North Myrtle Beach, SC 29582

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For Sale
$1,180,000

MULTI_FAMILY - North Myrtle Beach, SC

Type:Apartment
Property size:
7,348 SF
Price / SF:
$160/SF
Added:
Jan 3, 2026
Days on Market:
189
Last Refresh:
Jul 11 at 8:06 am

Property Features for 301-303 27th Ave. S

General Information

Property type
Residential Multi Family
Property subtype
Apartment
Standard status
Active
Size
7,348 SF

Building Details

Year built
1960
Number of units
10

Listing agent Jeff Forman License #111037

Listing office Keller Williams The Forturro Group Myrtle Beach, SC

Listing date Jan 3, 2026

MLS# 2600175 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.


Investment Insights

Based on property information with market context.

This multifamily investment property is comprised of 301-303 27th Ave. S and 2702 Perrin Drive, set on a double corner lot. The offering presents a value-add opportunity with strategic renovations and cosmetic updates aimed at improving unit appeal and overall performance. The asset is positioned as a coastal rental play, with the potential to support rent growth and repositioning through refreshed finishes and modernized presentation.

The property is located in the Crescent Beach section of North Myrtle Beach, just 485 feet from the Atlantic Ocean and Crescent Beach public access. With public utilities in place and R-4 zoning for multi-unit residential use, the configuration supports multi-family operations while offering flexibility for investors focused on upgrading and elevating the tenant experience.

For buyers seeking an income-producing portfolio expansion, this property aligns well with strategies centered on renovation-driven improvements and enhanced cash flow. It may also appeal to operators looking for a high-demand coastal rental concept, including furnished and short-term rental conversions, as described in the remarks. With proximity to schools, shopping, and major attractions, the property is positioned to benefit from strong local demand while giving a new owner clear pathways to improve curb appeal, unit quality, and long-term value.

Key Highlights

  • Located just 485 feet from the Atlantic Ocean and Crescent Beach public access in North Myrtle Beach
  • Significant upside potential through rent growth and repositioning via strategic renovations and cosmetic updates
  • Premier Crescent Beach location in a highly desirable submarket

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up
Vacancy
income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
EGI (Effective Gross Income)
gross rent minus vacancy losses — the realistic income before paying operating costs.
OpEx (Operating Expenses)
recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
NOI (Net Operating Income)
income a property generates after operating costs but before financing and taxes.

Component $ $/SF
Gross rent $128.7k $17.52
− Vacancy −$5.4k −$0.74
EGI $123.3k $16.78
− OpEx −$55.5k −$7.55
NOI $67.8k $9.23
7,348 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%

Alternative Uses

Best Use
Apartment 5plus
$969.0K
$847.9K – $1.13M (±1% cap)
NOI $67,832 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M (±1% cap)
NOI $130,359 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Short term rental ...

Suggested Use

Dental Office Electrical Service Law Firm Locksmith Carpet & Flooring Store Garden Center Auto Parts Store Cafe & Coffee Shop Tanning Salon (Bike/Boat/Book/etc) Store

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

FAQs

What type of property is this?
Apartment building - Double corner lot multifamily asset with R-4 zoning and public utilities, positioned for rent growth and coastal repositioning.
Where is this apartment building located?
The property is located at 301-303 27th Ave. S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Located just 485 feet from the Atlantic Ocean and Crescent Beach public access in North Myrtle Beach; Significant upside potential through rent growth and repositioning via strategic renovations and cosmetic updates; Premier Crescent Beach location in a highly desirable submarket
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