Renovated 41-Unit Apartment
For Sale
$5,450,000
1500 S Ocean Blvd., Myrtle Beach, SC 29577
MULTI-FAMILY, Myrtle Beach, SC
Property Size27,594 SF
Price / SF$197.51
Days on Market106
Property Features for 1500 S Ocean Blvd.
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Lot features
Rectangular, Inside City Limits
Elementary school
Myrtle Beach Elementary School
Middle school
Myrtle Beach Intermediate School
High school
North Myrtle Beach High School
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
27,594 SF
Utilities
Utilities
Cable Available
Amenities
resort-style pool
courtyard grilling oasis
lounge and coworking areas
lush tropical landscaping
on-site parking
high-speed WiFi
Building Details
Year built
1962
Number of units
41
Listing Agency:
RE/MAX Southern Shores · RE/MAX International
(843) 839-0200
Listed By:
Richard Singleton · License #26622
(843) 267-3585
Added: Jul 2
Changed: Aug 19
Last Checked: Oct 15 at 9:06PM
MLS# 2616995
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Edge Apartments is a 41-unit multifamily property totaling 27,594 square feet. Originally constructed in 1962, the building underwent renovation in 2025 and now offers apartments with full kitchens equipped with ovens and stoves, dishwashers, microwaves, and refrigerator-freezer combinations. High-speed WiFi is available throughout the property, with professionally designed apartment interiors and common areas.
Shared amenities include a resort-style pool, landscaped courtyard with grilling space, lounge and coworking areas, and on-site parking. More than 50 palm trees contribute to the tropical landscape. The property is located at 1500 S Ocean Blvd. in Myrtle Beach, steps from the ocean and near dining, shopping, entertainment, golf, and the beach.
The community is designed for long-term residential occupancy rather than traditional short-term rentals. Cable is available, adding another documented utility option for the property.
Shared amenities include a resort-style pool, landscaped courtyard with grilling space, lounge and coworking areas, and on-site parking. More than 50 palm trees contribute to the tropical landscape. The property is located at 1500 S Ocean Blvd. in Myrtle Beach, steps from the ocean and near dining, shopping, entertainment, golf, and the beach.
The community is designed for long-term residential occupancy rather than traditional short-term rentals. Cable is available, adding another documented utility option for the property.
Key Highlights
- 41‑unit apartment community totaling 27,594 square feet
- Renovated in 2025; original construction dates to 1962
- Full kitchens include oven/stove, dishwasher, microwave, and refrigerator/freezer combinations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$254,728
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,094,560
$5.1M
Cap Rate 7%
$3,638,971
$3.6M
Cap Rate 9%
$2,830,311
$2.8M
Market Conditions
NOI Build-Up for 27,594 SF
Gross rent
$483.4K $17.52/SF
− Vacancy
−$20.3K −$0.74/SF
EGI
$463.1K $16.78/SF
− OpEx
−$208.4K −$7.55/SF
NOI
$254.7K $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 Rate 5%
$5,094,560
Cap Rate 7%
$3,638,971
Cap Rate 9%
$2,830,311
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 authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
41
Residential units
Location Intelligence
Trade Area within ½ mile
602
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Beachside residential community with full kitchens, shared amenities, on-site parking, and long-term apartment living near the ocean.
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‑unit apartment community totaling 27,594 square feet; Renovated in 2025; original construction dates to 1962; Full kitchens include oven/stove, dishwasher, microwave, and refrigerator/freezer combinations
