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    Triplex Investment with Rental Flexibility Title is generated by Realmo AI

    205 5th Ave. S, North Myrtle Beach, SC 29582

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    For Sale
    $920,000

    MULTI_FAMILY - North Myrtle Beach, SC

    Property size:
    2,572 SF
    Price / SF:
    $357/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 5:06 pm

    Property Features for 205 5th Ave. S

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Size
    2,572 SF

    Utilities

    Utilities
    Cable Available

    Building Details

    Year built
    1956
    Number of units
    3

    We can help!

    Listing Contact
    John Nguyen

    Listing agent John Nguyen License #68186

    Listing office Realty ONE Group Dockside Myrtle Beach, SC

    Listing date Jun 5, 2026

    MLS# 2614491 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.

    HighLights

    • Triplex built in 1956 with 6 bedrooms and 6 bathrooms total
    • About a couple hundred steps to the ocean, just minutes from the shoreline
    • No homeowners association (HOA)
    • Freshly painted; both buildings received new roofs in 2023
    • New HVAC installed to one unit
    • All furnishings and items included; cable available; ample parking and an outdoor shower

    Overview

    This for-sale triplex offers 6 bedrooms and 6 bathrooms across the three-unit configuration. The property has been freshly painted, and both buildings were reported to have received new roofs in 2023. A new HVAC system has also been installed in one of the units. An outdoor shower and ample on-site parking are included, and all furnishings and items are included with the sale.

    The property is located in North Myrtle Beach, South Carolina, just minutes from the ocean, with public remarks indicating it is a couple hundred steps to the beach. The listing also notes there is no homeowners association.

    With its multi-unit layout and furnished offering, the triplex is positioned for tenants or operators looking for flexibility between short-term and long-term rental use. Buyers should verify all measurements, as the listing states dimensions are approximate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Beach Fantasea Vacation Rental

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    North Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.678192
    Latitude
    33.817317

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    FAQs

    What type of property is this?
    Triplex - Fresh updates, new roofs, ample parking, and strong rental suitability for short- or long-term stays.
    Where is this triplex located?
    The property is located at 205 5th Ave. S North Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $920,000.
    What are key features of this property?
    This property features: Triplex built in 1956 with 6 bedrooms and 6 bathrooms total; About a couple hundred steps to the ocean, just minutes from the shoreline; No homeowners association (HOA)
    (843) 902-5556
    We can help!
    Listing Contact
    John Nguyen
    Real Estate License ID: 68186
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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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