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Downtown 7-Unit Multifamily Investment

304 2nd Ave. N Myrtle Beach, SC 29577

Claim this Listing
For Sale
$645,000

MULTI_FAMILY - Myrtle Beach, SC

Type:Apartment
Property size:
3,705 SF
Price / SF:
$174/SF
Added:
Dec 15, 2025
Days on Market:
208
Last Refresh:
Jul 11 at 8:06 am

Property Features for 304 2nd Ave. N

General Information

Property type
Residential Multi Family
Property subtype
Apartment
Standard status
Active
Size
3,705 SF

Utilities

Utilities
Cable Available

Building Details

Year built
1956
Number of units
7

Listing agent Jeff Forman License #111037

Listing office Keller Williams The Forturro Group Myrtle Beach, SC

Listing date Dec 15, 2025

MLS# 2600165 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 for-sale multifamily investment consists of seven income-producing units in two separate buildings. The current unit mix includes three two-bedroom units, one one-bedroom unit, and three efficiency units, providing flexibility for different tenant types. The property is presently leased to long-term tenants, supporting immediate, consistent cash flow while preserving options for future strategy adjustments.

The buildings are located in Myrtle Beach, positioned east of Highway 17 and about a block from the beach, boardwalk, and 2nd Ave Pier. The setting is within walking distance to dining and entertainment, which can support ongoing rental demand in a highly active coastal market.

Designed for investors seeking stability and upside, the asset can work for buyers focused on long-term rental performance or those planning a longer-term conversion toward short-term rentals, which are permitted. With its central location and established rental income, this property may appeal to both traditional multifamily buyers and owners looking for a versatile unit mix that can adapt to changing market preferences.

Key Highlights

  • Prime location: One block from the beach, boardwalk, 2nd Ave Pier, dining, and entertainment in Myrtle Beach.
  • Seven income‑producing units provide immediate and consistent cash flow.
  • Versatile unit mix: Includes 2‑bedroom, 1‑bedroom, and efficiency units, suitable for long‑term or short‑term rentals.

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 $64.9k $17.52
− Vacancy −$2.7k −$0.74
EGI $62.2k $16.78
− OpEx −$28.0k −$7.55
NOI $34.2k $9.23
3,705 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%

Alternative Uses

Best Use
Apartment 5plus
$488.6K
$427.5K – $570.0K (±1% cap)
NOI $34,202 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$939.0K
$821.6K – $1.10M (±1% cap)
NOI $65,730 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Sea Bee Inn ... Apartment Building

Suggested Use

Dental Office Skin Care Clinic Locksmith Electrical Service (Bike/Boat/Book/etc) Store Catering Service Pharmacy HVAC Service Pet Grooming Service Florist

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

FAQs

What type of property is this?
Apartment building - Seven income-producing units across two buildings offer rental flexibility with both long-term and short-term use potential.
Where is this apartment building located?
The property is located at 304 2nd Ave. N Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Prime location: One block from the beach, boardwalk, 2nd Ave Pier, dining, and entertainment in Myrtle Beach.; Seven income‑producing units provide immediate and consistent cash flow.; Versatile unit mix: Includes 2‑bedroom, 1‑bedroom, and efficiency units, suitable for long‑term or short‑term rentals.
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