Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Multifamily Investment Near Crescent Beach Title is generated by Realmo AI

    301-303 27th Ave. S, North Myrtle Beach, SC 29582

    View on Map
    Claim this Listing
    For Sale
    $1,254,000

    MULTI_FAMILY - North Myrtle Beach, SC

    Type:Apartment
    Property size:
    7,348 SF
    Price / SF:
    $170/SF
    Added:
    Jan 3, 2026
    Days on Market:
    138
    Last Refresh:
    May 21 at 11:06 pm

    Property Features for 301-303 27th Ave. S

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active
    Size
    7,348 SF

    Building Details

    Year built
    1960
    Number of units
    10

    We can help!

    Listing Contact
    Jeff Forman
    Jeff Forman

    Listing agent Jeff Forman License #111037

    Listing office Keller Williams The Forturro Group Myrtle Beach, SC

    Listing date Jan 3, 2026

    MLS# 2600175 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

    • Located just 485 feet from the Atlantic Ocean and Crescent Beach public access in North Myrtle Beach
    • Significant upside potential through rent growth and repositioning via strategic renovations and cosmetic updates
    • Premier Crescent Beach location in a highly desirable submarket
    • R‑4 zoning allows for multi‑unit residential use
    • Well‑suited for short‑term rental conversions and increased cash flow
    • Positioned on a double corner lot

    Overview

    This multifamily investment property, located in the Crescent Beach section of North Myrtle Beach, is comprised of two addresses on a double corner lot. Situated just 485 feet from the Atlantic Ocean and Crescent Beach public access, the property offers upside potential through strategic renovations and cosmetic updates. The location is suited for modernizing units, enhancing curb appeal, and elevating the property into a higher-performing coastal rental. Renovated units in this submarket command premium rents, particularly for furnished and short-term rental conversions. The property is well-suited for increased cash flow, improved tenant quality, and long-term appreciation. The property benefits from public utilities and R-4 zoning for multi-unit residential use. It is located in proximity to schools, shopping, and major attractions. The property has easy beach access and walkability to local favorites. The property size is 7,348 square feet.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $753.7K
    NOI $67,832 @ 9.00% cap · cautious / downside scenario
    Moderate
    $969.0K
    NOI $67,832 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.36M
    NOI $67,832 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $128.7k $17.52
    − Vacancy −$5.4k −$0.74
    EGI $123.3k $16.78
    − OpEx −$55.5k −$7.55
    NOI $67.8k $9.23
    7,348 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $969.0K
    $847.9K – $1.13M (±1% cap)
    NOI $67,832 @ 7.0% cap · market cap 5.41%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.86M
    $1.63M – $2.17M (±1% cap)
    NOI $130,359 @ 7.0% cap · market cap 10.40%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon 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
    -78.712639
    Latitude
    33.802872

    Nearby Similar for Sale

    • $2,500,000
      7,254 SF

      Equipped Restaurant Property Near Beach

      Restaurant property with high visibility near Main Street and Ocean Boulevard.
      801 Hwy 17 S, North Myrtle Beach, SC 29582
      View Details
    • $749,950
      3,034 SF

      Cabin-Style Triplex Near Beach

      Income-producing triplex near the beach with strong rental history.
      509 Hillside Dr. S, North Myrtle Beach, SC 29582
      View Details
    • $1,869,000
      7,896 SF

      North Myrtle Beach Rental Machine

      Duplex near the beach, ideal for vacation rentals.
      400 Hillside Dr. S, North Myrtle Beach, SC 29582
      View Details
    • $820,000
      2,828 SF

      North Myrtle Beach Duplex Investment

      Updated duplex near the beach, ideal for vacation rentals.
      206 30th Ave. N, North Myrtle Beach, SC 29582
      View Details
    • $985,000
      3,318 SF

      North Myrtle Beach Triplex Opportunity

      Updated triplex near the beach with income potential.
      2006 S Ocean Blvd., North Myrtle Beach, SC 29582
      View Details
    • $639,900
      1,742 SF

      North Myrtle Beach Duplex Opportunity

      Charming duplex near the beach, ideal for investment or multigenerational living.
      404 34th Ave. S, North Myrtle Beach, SC 29582
      View Details
    • $2,900,000
      5,684 SF

      Oceanfront Triplex in Cherry Grove

      Redone oceanfront triplex with strong rental history in North Myrtle Beach.
      3104 N Ocean Blvd., North Myrtle Beach, SC 29582
      View Details
    • $899,000
      2,706 SF

      North Myrtle Beach Coastal Duplex

      North Myrtle Beach duplex, steps from the ocean, fully furnished.
      1904 S Ocean Blvd., North Myrtle Beach, SC 29582
      View Details
    • $1,685,000
      3,400 SF

      North Myrtle Beach Income Property

      Income-producing buildings near the beach in North Myrtle Beach, SC.
      3802 S Ocean Blvd., North Myrtle Beach, SC 29582
      View Details
    • $1,750,000
      3,701 SF

      Renovated Oceanfront Duplex in Cherry Grove

      Renovated 8-bedroom duplex with rental income potential.
      4700 N Ocean Blvd., North Myrtle Beach, SC 29582
      View Details
    • $795,000
      2,000 SF

      Renovated Duplex Near Beach

      Fully renovated duplex near the beach with pool and parking.
      508 33rd Ave. S, North Myrtle Beach, SC 29582
      View Details
    • $439,000
      1,508 SF

      North Myrtle Beach Duplex Opportunity

      Versatile duplex near Cherry Grove Pier, ideal for investment.
      304 23rd Ave. N, North Myrtle Beach, SC 29582
      View Details

    FAQs

    What type of property is this?
    Apartment building - Multifamily property near the ocean with significant upside potential.
    Where is this apartment building located?
    The property is located at 301-303 27th Ave. S North Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $1,254,000.
    What are key features of this property?
    This property features: Located just 485 feet from the Atlantic Ocean and Crescent Beach public access in North Myrtle Beach; Significant upside potential through rent growth and repositioning via strategic renovations and cosmetic updates; Premier Crescent Beach location in a highly desirable submarket
    (843) 902-4325
    We can help!
    Listing Contact
    Jeff Forman
    Jeff Forman
    Real Estate License ID: 111037
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    301-303 27th Ave. S, North Myrtle Beach, SC 29582
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!