Furnished Triplex Near
For Sale
$895,000
205 5th Ave. S, North Myrtle Beach, SC 29582
MULTI-FAMILY, North Myrtle Beach, SC
Property Size2,572 SF
Price / SF$347.98
Days on Market92
Property Features for 205 5th Ave. S
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Lot features
Corner, Rectangular, East of Bus. 17, Inside City Limits
Elementary school
Ocean Drive Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Subdivision
11B North Myrtle Beach Area--Ocean Drive
Standard status
Active
Size
2,572 SF
Utilities
Utilities
Cable Available
Amenities
outdoor shower
parking
Building Details
Year built
1956
Number of units
3
Listing Agency:
Realty ONE Group Dockside
(843) 492-4030
Listed By:
John Nguyen · License #68186
(843) 902-5556
Added: Jun 5
Changed: Aug 19
Last Checked: Sep 4 at 3:06AM
MLS# 2614491
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 2,572-square-foot triplex was built in 1956 and includes 6 bedrooms and 6 bathrooms across two buildings. The property has been freshly painted, with new roofs installed on both buildings in 2023. One unit also has a newly installed HVAC system. Furnishings and other included items remain with the sale, while an outdoor shower and ample parking add practical site features.
The property is located near the ocean in North Myrtle Beach. Cable is available, and the layout supports either short-term or long-term rental use. No homeowners association applies to the property.
The property is located near the ocean in North Myrtle Beach. Cable is available, and the layout supports either short-term or long-term rental use. No homeowners association applies to the property.
Key Highlights
- 6‑bedroom, 6‑bathroom triplex totaling 2,572 square feet
- Two buildings with new roofs installed in 2023
- Fresh interior paint and a new HVAC system in one unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,271
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$525,420
$525.4K
Cap Rate 7%
$375,300
$375.3K
Cap Rate 9%
$291,900
$291.9K
Market Conditions
NOI Build-Up for 2,572 SF
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.
Gross rent
$39.5K $15.36/SF
− Vacancy
−$2.0K −$0.77/SF
EGI
$37.5K $14.59/SF
− OpEx
−$11.3K −$4.38/SF
NOI
$26.3K $10.21/SF
Area
Horry County, SC
Vacancy
5.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$525,420
Cap Rate 7%
$375,300
Cap Rate 9%
$291,900
Alternative Uses
Best Use
Multifamily LT 5
$375.3K
$328.4K – $437.9K
NOI $26,271 @ 7.0% cap · market cap 2.94%
Second Best
Apartment 5plus
$339.2K
$296.8K – $395.7K
NOI $23,743 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$651.8K
$570.4K – $760.5K
NOI $45,629 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 29582, SC
18,897
Population
27,559
Households
0.7
Avg Household Size
62
Median Age
38%
College-Educated
94%
High-School Grad
21.9 sq mi
ZIP Area
863
Density / Sq Mi
$71,030
Median Household Income
$36,906
Median Earnings
$1,194
Median Rent
$370,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - The property supports short-term and long-term rental use without a homeowners association.
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 $895,000.
What are key features of this property?
This property features: 6‑bedroom, 6‑bathroom triplex totaling 2,572 square feet; Two buildings with new roofs installed in 2023; Fresh interior paint and a new HVAC system in one unit
