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    2010 S Ocean Blvd. Myrtle Beach, SC 29577

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    For Sale
    $6,750,000

    Other - Myrtle Beach, SC

    Added:
    Jan 8, 2026
    Days on Market:
    113
    Last Refresh:
    May 1 at 8:06 am

    Property Features for 2010 S Ocean Blvd.

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Other
    Security features
    Fire Alarm
    Interior features
    Sprinkler System, Fire Alarm
    Exterior features
    Sprinkler System
    Standard status
    Active

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Wall/Window Unit(s), Wall Unit(s)

    Building Details

    Year built
    1968
    Number of units
    67
    Building materials
    Block, Brick, Brick Veneer, Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Liat Edri
    Liat Edri

    Listing agent Liat Edri

    Listing office Realty ONE Group Dockside 2305 N. Oak St, Myrtle Beach, SC

    Listing date Jan 8, 2026

    MLS# 2600580 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.

    Overview

    Oceanfront Multifamily Investment Opportunity

    Located at 2010 S. Ocean Blvd in Myrtle Beach, SC, this is a fully renovated 68-unit multifamily property situated directly on Ocean Boulevard. The property occupies a corner lot and includes an additional parcel currently utilized as a parking lot, totaling approximately 0.70 acres. The location is in one of Myrtle Beach's most desirable markets, just steps away from the Atlantic Ocean. The property offers one-bedroom and studio units. Comprehensive renovations were completed between 2023 and 2024, including the installation of new PEX water lines throughout the building, a new sprinkler system and fire alarm, and servicing of all standpipes. Interior upgrades include drywall and interior painting, replacement of kitchen cabinets and countertops in most units, and installation of new PTAC AC units. Exterior enhancements feature exterior painting and stucco. Mechanical systems have been updated with elevator repairs and the installation of a new 120-gallon boiler. A new parking lot has been developed, and landscaping has been completed per City of Myrtle Beach approved plans. Appliances have been upgraded throughout the units. This is one of only a few multifamily buildings allowed on Ocean Blvd.
    Property Profile Insight Report 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

    Suggested Use

    Law Firm Real Estate Agency Spa & Massage Center Restaurant Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.9066147
    Latitude
    33.6694765

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    FAQs

    What type of property is this?
    Apartment building - Renovated 68-unit multifamily property directly on Ocean Boulevard.
    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: Prime Oceanfront Location: Steps from the Atlantic Ocean on Myrtle Beach's Ocean Boulevard.; Fully Renovated: Comprehensive renovations completed in 2023‑2024.; Turnkey Investment: A fully operational 68‑unit multifamily property.
    (843) 222-6357
    We can help!
    Listing Contact
    Liat Edri
    Liat Edri
    Real Estate License ID: 59354
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2010 S Ocean Blvd., Myrtle Beach, SC 29577

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