Renovated 65-Unit Apartment
For Sale
$6,750,000
2010 S Ocean Blvd., Myrtle Beach, SC 29577
MULTI-FAMILY, Myrtle Beach, SC
Property Size25,011 SF
Lot Size0.70 Acres
Price / SF$269.88
Days on Market97
Property Features for 2010 S Ocean Blvd.
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Rectangular, East of Bus. 17, Inside City Limits, Second Row Beach
Elementary school
Myrtle Beach Elementary School
Middle school
Myrtle Beach Middle School
High school
Myrtle Beach High School
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
25,011 SF
Lot size
0.70 Acres
Utilities
Utilities
Cable Available
Building Details
Year built
1968
Number of units
65
Listing Agency:
Realty ONE Group Dockside
(843) 492-4030
Listed By:
Liat Edri · License #6170
(843) 222-6357
Added: Jul 9
Changed: Aug 19
Last Checked: Oct 13 at 9:06PM
MLS# 2617369
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.
This 65-unit apartment property includes a mix of studio and one-bedroom residences within a 25,011-square-foot building constructed in 1968. The asset occupies a corner lot and includes a separate parcel used as a parking area, with the combined property spanning approximately 0.70 acres.
Renovations completed during 2023-2024 include new PEX water lines, a sprinkler system, fire alarm installation, serviced standpipes, interior painting, drywall work, updated kitchen cabinets and countertops in most units, PTAC air-conditioning units, exterior paint and stucco, elevator repairs, and a new 120-gallon boiler. Unit appliances were also upgraded. The property is located on S. Ocean Blvd. in Myrtle Beach, near the Atlantic Ocean, with landscaping completed under City of Myrtle Beach-approved plans.
Renovations completed during 2023-2024 include new PEX water lines, a sprinkler system, fire alarm installation, serviced standpipes, interior painting, drywall work, updated kitchen cabinets and countertops in most units, PTAC air-conditioning units, exterior paint and stucco, elevator repairs, and a new 120-gallon boiler. Unit appliances were also upgraded. The property is located on S. Ocean Blvd. in Myrtle Beach, near the Atlantic Ocean, with landscaping completed under City of Myrtle Beach-approved plans.
Key Highlights
- 65‑unit apartment property with studio and one‑bedroom units
- 25,011‑square‑foot building on approximately 0.70 acres
- Renovations completed during 2023‑2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$230,884
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,617,680
$4.6M
Cap Rate 7%
$3,298,343
$3.3M
Cap Rate 9%
$2,565,378
$2.6M
Market Conditions
NOI Build-Up for 25,011 SF
Gross rent
$438.2K $17.52/SF
− Vacancy
−$18.4K −$0.74/SF
EGI
$419.8K $16.78/SF
− OpEx
−$188.9K −$7.55/SF
NOI
$230.9K $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%
$4,617,680
Cap Rate 7%
$3,298,343
Cap Rate 9%
$2,565,378
Alternative Uses
Best Use
Apartment 5plus
$3.30M
$2.89M – $3.85M
NOI $230,884 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.34M
$5.55M – $7.40M
NOI $443,715 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
65
Residential units
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
486
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Coastal multifamily property with studio and one-bedroom units, recent building-system upgrades, and an additional parcel used for parking.
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: 65‑unit apartment property with studio and one‑bedroom units; 25,011‑square‑foot building on approximately 0.70 acres; Renovations completed during 2023‑2024
