Furnished
For Sale
$1,389,000
1408 Perrin Dr., North Myrtle Beach, SC 29582
Four furnished units are configured for short-term vacation rentals and include kitchens equipped for guest stays.
Property Size5,000 SF
Price / SF$277.80
Days on Market67
Property Features for 1408 Perrin Dr.
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Multi Family Home
Zoning
R4
Units
Unit Mix
2 x 2BR/2BA, 2 x 3BR/2BA
Multifamily Units
4
Additional Details
Furnished
Yes
Currently Operating
Yes
Building Details
Building Size
5,000 SF
Year Built
1985
Units
4
Listing Agency:
Gabriel Financial Real Estate
(843) 663-5335
Listed By:
Timothy H. Gabriel · License #10663
(843) 222-5335
Source:
Gabrielfinancial
Added: Aug 19
Changed: Oct 23
Last Checked: Oct 23 at 3:33PM
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 Gabriel Financial Real Estate
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Investment Insights
Based on property information with market context.
This four-unit property contains two apartments with two bedrooms and two bathrooms each, plus two end units with three bedrooms and two bathrooms each. All units are furnished and have kitchens outfitted for vacation rentals. Interior features include granite countertops, LVP flooring, and stainless steel appliances. Several units have received renovations and upgrades, and the property has newer AC units.
Built in 1985 and zoned R4, the property is near public beach access. It is currently operated as a short-term vacation rental property.
Built in 1985 and zoned R4, the property is near public beach access. It is currently operated as a short-term vacation rental property.
Key Highlights
- Four units: two 2‑bedroom, 2‑bath units and two 3‑bedroom, 2‑bath end units
- All units are furnished and currently operated as short‑term vacation rentals
- Granite countertops, LVP flooring, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,072
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,021,440
$1.0M
Cap Rate 7%
$729,600
$729.6K
Cap Rate 9%
$567,467
$567.5K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$76.8K $15.36/SF
− Vacancy
−$3.8K −$0.77/SF
EGI
$73.0K $14.59/SF
− OpEx
−$21.9K −$4.38/SF
NOI
$51.1K $10.21/SF
Area
Horry County, SC
Vacancy
5.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,021,440
Cap Rate 7%
$729,600
Cap Rate 9%
$567,467
Alternative Uses
Best Use
Multifamily LT 5
$729.6K
$638.4K – $851.2K
NOI $51,072 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$659.4K
$577.0K – $769.3K
NOI $46,156 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,704 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
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Business Placement
Demographics for 29582, SC
18,897
Population
27,559
Households
0.7
Avg Household Size
62
Median Age
38%
College-Educated
94%
High-School Grad
21.9 sq mi
ZIP Area
863
Density / Sq Mi
$71,030
Median Household Income
$36,906
Median Earnings
$1,194
Median Rent
$370,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four furnished units are configured for short-term vacation rentals and include kitchens equipped for guest stays.
Where is this quadplex located?
The property is located at 1408 Perrin Dr. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,389,000.
What are key features of this property?
This property features: Four units: two 2‑bedroom, 2‑bath units and two 3‑bedroom, 2‑bath end units; All units are furnished and currently operated as short‑term vacation rentals; Granite countertops, LVP flooring, and stainless steel appliances
