Multi-Unit Townhome Apartment
For Sale
$5,250,000
4601 Lomax Ct., Murrells Inlet, SC 29576
Portfolio of seven buildings with 28 townhomes, each featuring private screened porches and access to a community pool.
Property Size34,720 SF
Days on Market87
Property Features for 4601 Lomax Ct.
General Information
Standard status
Active
Size
34,720 SF
Zoning
MF
Additional Details
Multifamily Units
28
Amenities
private screened porches
community pool
Building Details
Building Size
34,720 SF
Stories
2
Tenancy
Multi
Listing Agency:
(843) 602-9264
Listed By:
Beth Campbell · License #49442
(843) 602-9264
Source:
Booerealty.idxbroker
Added: Jun 4
Changed: Aug 27
Last Checked: Aug 29 at 5:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Beth Campbell
Investment Insights
Based on property information with market context.
Located at Wachesaw Place at 4601 Lomax Ct in Murrells Inlet, this for-sale multifamily portfolio comprises seven buildings totaling 28 multi-unit townhomes. The townhomes are described as offering spacious layouts and include private screened porches. Residents also have access to a quiet community pool.
This offering is presented as a single, collective investment opportunity, with the buildings situated within the Wachesaw Place community.
This offering is presented as a single, collective investment opportunity, with the buildings situated within the Wachesaw Place community.
Key Highlights
- Portfolio includes seven buildings with a total of 28 multi‑unit townhomes
- Each townhome features a private screened porch
- Community pool access for residents
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
$320,510
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
6.10%
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%
$6,410,200
$6.4M
Cap Rate 7%
$4,578,714
$4.6M
Cap Rate 9%
$3,561,222
$3.6M
Market Conditions
NOI Build-Up for 34,720 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
$608.3K $17.52/SF
− Vacancy
−$25.5K −$0.74/SF
EGI
$582.7K $16.78/SF
− OpEx
−$262.2K −$7.55/SF
NOI
$320.5K $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%
$6,410,200
Cap Rate 7%
$4,578,714
Cap Rate 9%
$3,561,222
Alternative Uses
Best Use
Apartment 5plus
$4.58M
$4.01M – $5.34M
NOI $320,510 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.80M
$7.70M – $10.27M
NOI $615,961 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 29576, SC
32,476
Population
22,097
Households
1.5
Avg Household Size
61
Median Age
32%
College-Educated
96%
High-School Grad
30.5 sq mi
ZIP Area
1,065
Density / Sq Mi
$70,343
Median Household Income
$36,352
Median Earnings
$1,467
Median Rent
$315,700
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 - Portfolio of seven buildings with 28 townhomes, each featuring private screened porches and access to a community pool.
Where is this apartment building located?
The property is located at 4601 Lomax Ct. Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Portfolio includes seven buildings with a total of 28 multi‑unit townhomes; Each townhome features a private screened porch; Community pool access for residents
