6-Unit Apartment
For Sale
$525,000
1101 Dunbar St., Myrtle Beach, SC 29577
MULTI_FAMILY - Myrtle Beach, SC
Property Size2,976 SF
Price / SF$176.41
Days on Market218
Property Features for 1101 Dunbar St.
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Lot features
Rectangular, Inside City Limits, East of Highway 17 Bypass
Elementary school
Myrtle Beach Elementary School
Middle school
Myrtle Beach Middle School
High school
Myrtle Beach High School
Subdivision
16F Myrtle Beach Area--10th Ave N to 29th Ave N
Standard status
Active
Size
2,976 SF
Utilities
Utilities
Cable Available
Building Details
Year built
1950
Number of units
6
Listing Agency:
Keller Williams The Forturro Group · Keller Williams Realty
(843) 443-9400
Listed By:
Jeff Forman · License #111037
(843) 902-4325
Added: Jan 3
Changed: Aug 1
Last Checked: Aug 9 at 7:06PM
MLS# 2600195
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.
1101 Dunbar St., Myrtle Beach, SC 29577 is a 6-unit apartment building made up of three duplex buildings. Each duplex contains two 2-bedroom, 1-bath units, for a consistent residential mix across the property.
The home is located in the heart of Downtown Myrtle Beach in a designated opportunity zone. The property is also described as being minutes from the beach and close to restaurants, shopping, and entertainment, supporting use by both long-term tenants and seasonal renters.
Built in 1950, the property sits on a sizable lot with ample parking. Cable service is available to the building, supporting tenant connectivity needs. The unit interiors are described as functional two-bedroom layouts.
The home is located in the heart of Downtown Myrtle Beach in a designated opportunity zone. The property is also described as being minutes from the beach and close to restaurants, shopping, and entertainment, supporting use by both long-term tenants and seasonal renters.
Built in 1950, the property sits on a sizable lot with ample parking. Cable service is available to the building, supporting tenant connectivity needs. The unit interiors are described as functional two-bedroom layouts.
Key Highlights
- Three duplex buildings totaling 6 units
- Two 2‑bedroom, 1‑bath units per duplex
- Downtown Myrtle Beach designated opportunity zone
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,472
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$549,440
$549.4K
Cap Rate 7%
$392,457
$392.5K
Cap Rate 9%
$305,244
$305.2K
Market Conditions
NOI Build-Up for 2,976 SF
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.
Gross rent
$52.1K $17.52/SF
− Vacancy
−$2.2K −$0.74/SF
EGI
$49.9K $16.78/SF
− OpEx
−$22.5K −$7.55/SF
NOI
$27.5K $9.23/SF
Area
Horry County, SC
Vacancy
4.20%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$549,440
Cap Rate 7%
$392,457
Cap Rate 9%
$305,244
Alternative Uses
Best Use
Apartment 5plus
$392.5K
$343.4K – $457.9K
NOI $27,472 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$754.2K
$660.0K – $880.0K
NOI $52,797 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,292
Businesses Nearby
Explore this area
Business Placement
Demographics for 29577, SC
34,109
Population
22,630
Households
1.5
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
22.8 sq mi
ZIP Area
1,496
Density / Sq Mi
$48,561
Median Household Income
$33,591
Median Earnings
$1,130
Median Rent
$273,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three duplex buildings with two 2-bedroom, 1-bath units each, plus cable available near Myrtle Beach attractions.
Where is this apartment building located?
The property is located at 1101 Dunbar St. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three duplex buildings totaling 6 units; Two 2‑bedroom, 1‑bath units per duplex; Downtown Myrtle Beach designated opportunity zone
