Apartment Community with Resort-Style
1500 S Ocean Blvd. Myrtle Beach, SC 29577
1500 S Ocean Blvd., Myrtle Beach, SC, 29577
$5,450,000
For Sale
$5,450,000
MULTI_FAMILY - Myrtle Beach, SC
Property Size27,594 SF
Price / SF$197.51
Days on Market16
Property Features for 1500 S Ocean Blvd.
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Standard status
- Active
- Size
- 27,594 SF
Utilities
- Utilities
- Cable Available
Building Details
- Year built
- 1962
- Number of units
- 41
Listing Agency
RE/MAX Southern Shores
(843) 839-0200
Garden City, SC
Listed by
Richard Singleton · License #26622
(843) 267-3585
Added: Jul 2 Checked: Jul 17 at 7:06 am
MLS# 2616995
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.
Originally built in 1962 as the Waikiki Village beachside hotel, The Edge Apartments has been reimagined and renovated in 2025 as a mid-century modern apartment community. The property features 41 apartment units with full kitchens, including oven/stove, dishwasher, microwave, and refrigerator/freezer combinations, along with high-speed WiFi throughout the property. Interiors and common areas were designed by Tim McLendon, and residents also have access to a lounge and coworking areas.
The Edge is located steps from the ocean at 1500 S Ocean Blvd. Community amenities include a resort-style pool, a courtyard grilling oasis, and landscaped grounds with over 50 palm trees, plus convenient on-site parking.
The Edge is located steps from the ocean at 1500 S Ocean Blvd. Community amenities include a resort-style pool, a courtyard grilling oasis, and landscaped grounds with over 50 palm trees, plus convenient on-site parking.
Key Highlights
- 41 apartment units in a 1962‑built property reimagined as a mid‑century modern apartment community
- Fully renovated interiors and common areas with professionally designed spaces
- In‑unit kitchens include oven/stove, dishwasher, microwave, and refrigerator/freezer combinations
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 | $483.4k | $17.52 |
| − Vacancy | −$20.3k | −$0.74 |
| EGI | $463.1k | $16.78 |
| − OpEx | −$208.4k | −$7.55 |
| NOI | $254.7k | $9.23 |
27,594 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.64M
$3.18M – $4.25M
NOI $254,728 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.99M
$6.12M – $8.16M
NOI $489,540 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Waikiki Village Retro ...
Hotel & Motel
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fully renovated 41-unit apartment community with in-unit kitchens and on-site parking.
Where is this apartment building located?
The property is located at 1500 S Ocean Blvd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $5,450,000.
What are key features of this property?
This property features: 41 apartment units in a 1962‑built property reimagined as a mid‑century modern apartment community; Fully renovated interiors and common areas with professionally designed spaces; In‑unit kitchens include oven/stove, dishwasher, microwave, and refrigerator/freezer combinations
