Furnished
New
For Sale
$625,000
2104 Perrin Dr., North Myrtle Beach, SC 29582
Three furnished apartments provide a one-bedroom and two-bedroom mix in a single-level building.
Property Size1,792 SF
Price / SF$348.77
Days on Market3
Property Features for 2104 Perrin Dr.
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Furnished
Yes
Building Details
Year Built
1960
Buildings
1
Stories
1
Listing Agency:
Realty One Group Dockside
(843) 492-4030
Listed By:
Patrick Tole
(843) 833-1937
Source:
Pawleysislandproperties
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 14 at 10:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One Group Dockside
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Investment Insights
Based on property information with market context.
This 1,792-square-foot triplex, built in 1960, contains three furnished units on one level: two one-bedroom, one-bath apartments and one two-bedroom, one-bath apartment. Improvements completed in 2023 included flooring throughout, new lighting, water heaters, an exterior electrical feed, and appliances in the rear two units. The rear units were also freshly painted. Pine paneling adds a cottage-style interior detail.
The property is in the Crescent Beach section of North Myrtle Beach, one block from the ocean. The lot runs between Perrin Drive and Holly Street, with parking available on site. There is no HOA. The three units may be rented separately, or the property may be configured as four bedrooms; rental use is subject to current local regulations.
The property is in the Crescent Beach section of North Myrtle Beach, one block from the ocean. The lot runs between Perrin Drive and Holly Street, with parking available on site. There is no HOA. The three units may be rented separately, or the property may be configured as four bedrooms; rental use is subject to current local regulations.
Key Highlights
- Three furnished units: two 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit
- 1,792 square feet; built in 1960
- One level, with pine paneling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,304
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,080
$366.1K
Cap Rate 7%
$261,486
$261.5K
Cap Rate 9%
$203,378
$203.4K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$27.5K $15.36/SF
− Vacancy
−$1.4K −$0.77/SF
EGI
$26.1K $14.59/SF
− OpEx
−$7.8K −$4.38/SF
NOI
$18.3K $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 Rate 5%
$366,080
Cap Rate 7%
$261,486
Cap Rate 9%
$203,378
Alternative Uses
Best Use
Multifamily LT 5
$261.5K
$228.8K – $305.1K
NOI $18,304 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$236.3K
$206.8K – $275.7K
NOI $16,542 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$454.2K
$397.4K – $529.9K
NOI $31,792 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
488
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
Frequently Asked Questions
What type of property is this?
Triplex - Three furnished apartments provide a one-bedroom and two-bedroom mix in a single-level building.
Where is this triplex located?
The property is located at 2104 Perrin Dr. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three furnished units: two 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit; 1,792 square feet; built in 1960; One level, with pine paneling
