Oceanfront Multifamily
2010 S Ocean Blvd Myrtle Beach, SC 29577
2010 S Ocean Blvd, Myrtle Beach, SC, 29577
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For Sale
Contact for pricing
Fully renovated 65-unit multifamily property on Ocean Boulevard with one-bedroom and studio units.
Property Size28,190 SF
Lot Size0.70 Acres
Price / SF$239.45
Days on Market8
Property Features for 2010 S Ocean Blvd
General Information
- Standard status
- Active
- Size
- 28,190 SF
- Lot size
- 0.70 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1968
Listing agency
Realty ONE Group Dockside
(843) 222-6357
Listed by
Liat Edri · License #SC
Source
Crexi
Added: Jul 15 Updated: Jul 22 at 5:01PM Checked: Jul 22 at 5:01PM
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 Realty ONE Group Dockside
Investment Insights
Based on property information with market context.
This fully renovated 65-unit multifamily property is situated directly on Ocean Boulevard on a prominent corner lot. The building offers one-bedroom units and studio units, with comprehensive interior and systems upgrades completed in 2023–2024.
Improvements include new PEX plumbing throughout, a new sprinkler system and fire alarm installation, and servicing of all standpipes by AAA Fire Protection. Additional upgrades include drywall and interior painting, replacement of kitchen cabinets and countertops in most units, installation of new PTAC AC units, upgraded appliances throughout, and exterior painting and stucco. Mechanical work includes elevator repairs by Calvinder Elevator company and installation of a new 120-gallon boiler.
The offering also includes an additional parcel currently used as a parking lot, totaling approximately 0.70 acres, with a new parking lot developed on Cassandra Lane and landscaping completed per City of Myrtle Beach approved plans. Detailed financial documents, including profit & loss statements, capital expenditure reports, and rent rolls, are available to qualified buyers upon request.
Improvements include new PEX plumbing throughout, a new sprinkler system and fire alarm installation, and servicing of all standpipes by AAA Fire Protection. Additional upgrades include drywall and interior painting, replacement of kitchen cabinets and countertops in most units, installation of new PTAC AC units, upgraded appliances throughout, and exterior painting and stucco. Mechanical work includes elevator repairs by Calvinder Elevator company and installation of a new 120-gallon boiler.
The offering also includes an additional parcel currently used as a parking lot, totaling approximately 0.70 acres, with a new parking lot developed on Cassandra Lane and landscaping completed per City of Myrtle Beach approved plans. Detailed financial documents, including profit & loss statements, capital expenditure reports, and rent rolls, are available to qualified buyers upon request.
Key Highlights
- Fully renovated 65‑unit multifamily property on Ocean Blvd (corner lot) in Myrtle Beach, SC 29577, with one‑bedroom and studio units
- Renovations completed 2023–2024: new PEX water lines, sprinkler system and fire alarm, and servicing of all standpipes with AAA Fire Protection
- Mechanical and unit upgrades include new PTAC AC units in place, replacement of kitchen cabinets and countertops in most units, and upgraded appliances throughout
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 | $493.9k | $17.52 |
| − Vacancy | −$20.7k | −$0.74 |
| EGI | $473.1k | $16.78 |
| − OpEx | −$212.9k | −$7.55 |
| NOI | $260.2k | $9.23 |
28,190 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.72M
$3.25M – $4.34M
NOI $260,230 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.14M
$6.25M – $8.34M
NOI $500,113 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Rosen Sea Hotel
Hotel & Motel
Ocean breeze Hotel
Hotel & Motel
Nameless Art Studios
Art Studio
The Rusty Reel
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fully renovated 65-unit multifamily property on Ocean Boulevard with one-bedroom and studio units.
Where is this apartment building located?
The property is located at 2010 S Ocean Blvd Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: Fully renovated 65‑unit multifamily property on Ocean Blvd (corner lot) in Myrtle Beach, SC 29577, with one‑bedroom and studio units; Renovations completed 2023–2024: new PEX water lines, sprinkler system and fire alarm, and servicing of all standpipes with AAA Fire Protection; Mechanical and unit upgrades include new PTAC AC units in place, replacement of kitchen cabinets and countertops in most units, and upgraded appliances throughout
