Beachside Triplex with Two
New
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 Market2
Property Features for 205 5th Ave. S
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Assigned
Subdivision
K Ward LD
Lot features
Rectangular, East of Bus. 17, Second Row Beach
Elementary school
Ocean Drive Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Standard status
Active
Size
2,572 SF
Utilities
Utilities
Cable Available
Amenities
washer/dryer
storage shed
outdoor shower
Building Details
Year built
1956
Number of units
3
Listing Agency:
CB Sea Coast Advantage CF · Coldwell Banker Real Estate
(843) 903-4400
Listed By:
Jessica Williams · License #124869
(843) 443-7682
Added: Sep 18
Last Checked: Sep 19 at 3:06AM
MLS# 2623163
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 contains three 2-bedroom, 2-bathroom units, including two beach homes. Two units have private washers and dryers, while the property also includes assigned parking, a storage shed, and an outdoor shower. Furnishings and other items are included in the sale. Both buildings received new roofs in 2023, and one unit has a newly installed HVAC system.
Located at 205 5th Ave. S in North Myrtle Beach, the property sits approximately one block from the beach. The no-HOA setting adds flexibility for an owner seeking a coastal residence, rental arrangement, or combination of uses. Cable is available, and the property was built in 1956.
Located at 205 5th Ave. S in North Myrtle Beach, the property sits approximately one block from the beach. The no-HOA setting adds flexibility for an owner seeking a coastal residence, rental arrangement, or combination of uses. Cable is available, and the property was built in 1956.
Key Highlights
- Three 2‑bedroom, 2‑bathroom units configured as a triplex
- 2,572 square feet on a property approximately one block from the beach
- Two buildings received new roofs in 2023
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Three residential units provide flexible personal-use and rental options near the beach, with no HOA restrictions.
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: Three 2‑bedroom, 2‑bathroom units configured as a triplex; 2,572 square feet on a property approximately one block from the beach; Two buildings received new roofs in 2023
