Eight-Unit Multifamily
For Sale
$875,000
300 21st Ave. S, North Myrtle Beach, SC 29582
Three residential buildings on one parcel offer a mix of one- and two-bedroom rental units.
Property Size4,560 SF
Price / SF$191.89
Days on Market132
Property Features for 300 21st Ave. S
General Information
Standard status
Active
Size
4,560 SF
Property subtype
Multi Family Home
Zoning
R4
Units
Unit Mix
5 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
8
Additional Details
Tenant in Place
Yes
Building Details
Building Size
4,560 SF
Year Built
1950
Buildings
3
Units
8
Listing Agency:
Keller Williams The Forturro Group
Listed By:
Dominic Siciliano · License #131626
(843) 443-9400
Source:
Gabrielfinancial
Added: Jun 15
Changed: Oct 23
Last Checked: Oct 23 at 5:16PM
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 Keller Williams The Forturro Group
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Investment Insights
Based on property information with market context.
The property at 300 21st Ave. S in North Myrtle Beach comprises three buildings with eight rental units on one parcel: two duplexes and a four-unit building. The unit mix includes five two-bedroom, one-bath units and three one-bedroom, one-bath units. The buildings contain a combined 4,560 square feet and were built in 1950. Zoning is R4, and several long-term tenants are in place.
The property is one block from the ocean in the Crescent Beach section of North Myrtle Beach. The beach, restaurants, shopping, and entertainment are within walking distance.
The property is one block from the ocean in the Crescent Beach section of North Myrtle Beach. The beach, restaurants, shopping, and entertainment are within walking distance.
Key Highlights
- Eight rental units across three buildings on one parcel
- Unit mix: five 2‑bedroom, 1‑bath units and three 1‑bedroom, 1‑bath units
- Two duplexes and one four‑unit building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,578
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,560
$931.6K
Cap Rate 7%
$665,400
$665.4K
Cap Rate 9%
$517,533
$517.5K
Market Conditions
NOI Build-Up for 4,560 SF
Gross rent
$70.0K $15.36/SF
− Vacancy
−$3.5K −$0.77/SF
EGI
$66.5K $14.59/SF
− OpEx
−$20.0K −$4.38/SF
NOI
$46.6K $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%
$931,560
Cap Rate 7%
$665,400
Cap Rate 9%
$517,533
Alternative Uses
Best Use
Multifamily LT 5
$665.4K
$582.2K – $776.3K
NOI $46,578 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$601.4K
$526.2K – $701.6K
NOI $42,095 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,898 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three residential buildings on one parcel offer a mix of one- and two-bedroom rental units.
Where is this multifamily property located?
The property is located at 300 21st Ave. S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Eight rental units across three buildings on one parcel; Unit mix: five 2‑bedroom, 1‑bath units and three 1‑bedroom, 1‑bath units; Two duplexes and one four‑unit building
