Mid-Century Modern Apartment
1500 South Ocean Boulevard Myrtle Beach, SC 29577
For Sale
Contact for pricing
Fully renovated apartment community with 41 units, resort-style pool amenities, lounge and coworking areas, and on-site parking.
Property Size27,594 SF
Price / SF$197.51
Days on Market17
Property Features for 1500 South Ocean Boulevard
General Information
- Standard status
- Active
- Size
- 27,594 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1962
Listing Agency:
RE/MAX Southern Shores
(843) 267-3585
Listed By:
Richard Singleton · License #SC 26622
Source:
Crexi
Added: Jul 9
Changed: Jul 23
Last Checked: Jul 23 at 5:52PM
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 RE/MAX Southern Shores
Investment Insights
Based on property information with market context.
Originally built in 1962 as a beachside hotel, The Edge Apartments has been reimagined in 2025 into a mid-century modern apartment community. The property features 41 apartment units in a fully renovated setting with professionally designed interiors and common areas. Unit amenities include full kitchens with oven/stove, dishwasher, microwave, and refrigerator/freezer combinations, along with high-speed WiFi throughout the property.
Located at 1500 South Ocean Boulevard in Myrtle Beach, the community is described as just steps from the ocean. Residents have access to a resort-style pool and a courtyard grilling oasis, plus lounge and coworking areas. The grounds include lush tropical landscaping with over 50 palm trees, and the property offers convenient on-site parking.
Located at 1500 South Ocean Boulevard in Myrtle Beach, the community is described as just steps from the ocean. Residents have access to a resort-style pool and a courtyard grilling oasis, plus lounge and coworking areas. The grounds include lush tropical landscaping with over 50 palm trees, and the property offers convenient on-site parking.
Key Highlights
- 41‑unit apartment community originally built in 1962 at 1500 S Ocean Blvd, reimagined in 2025
- Fully renovated interiors with full kitchens including oven/stove, dishwasher, microwave, and refrigerator/freezer combinations
- High‑speed WiFi throughout the property
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
Location Intelligence
Current Use by Public Records
Waikiki Village Retro ...
Hotel & Motel
FAQs
What type of property is this?
Apartment building - Fully renovated apartment community with 41 units, resort-style pool amenities, lounge and coworking areas, and on-site parking.
Where is this apartment building located?
The property is located at 1500 South Ocean Boulevard 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 originally built in 1962 at 1500 S Ocean Blvd, reimagined in 2025; Fully renovated interiors with full kitchens including oven/stove, dishwasher, microwave, and refrigerator/freezer combinations; High‑speed WiFi throughout the property
