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    Value-Add Multifamily Investment Property Title is generated by Realmo AI

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

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    For Sale
    $1,180,000

    MULTI_FAMILY - North Myrtle Beach, SC

    Type:Apartment
    Property size:
    7,348 SF
    Price / SF:
    $160/SF
    Added:
    Jan 3, 2026
    Days on Market:
    184
    Last Refresh:
    Jul 6 at 12:06 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

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    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 is comprised of 301-303 27th Ave. S and 2702 Perrin Drive, set on a double corner lot. The offering presents a value-add opportunity with strategic renovations and cosmetic updates aimed at improving unit appeal and overall performance. The asset is positioned as a coastal rental play, with the potential to support rent growth and repositioning through refreshed finishes and modernized presentation.

    The property is located in the Crescent Beach section of North Myrtle Beach, just 485 feet from the Atlantic Ocean and Crescent Beach public access. With public utilities in place and R-4 zoning for multi-unit residential use, the configuration supports multi-family operations while offering flexibility for investors focused on upgrading and elevating the tenant experience.

    For buyers seeking an income-producing portfolio expansion, this property aligns well with strategies centered on renovation-driven improvements and enhanced cash flow. It may also appeal to operators looking for a high-demand coastal rental concept, including furnished and short-term rental conversions, as described in the remarks. With proximity to schools, shopping, and major attractions, the property is positioned to benefit from strong local demand while giving a new owner clear pathways to improve curb appeal, unit quality, and long-term value.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    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.

    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 Uses

    Best Use
    Apartment 5plus
    $969.0K
    $847.9K – $1.13M (±1% cap)
    NOI $67,832 @ 7.0% cap · market cap 5.75%
    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 11.05%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Dental Office Law Firm Electrical Service Tattoo & Piercing Shop Restaurant Carpet & Flooring Store Supermarket Locksmith Tanning Salon Cafe & Coffee Shop

    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

    FAQs

    What type of property is this?
    Apartment building - Double corner lot multifamily asset with R-4 zoning and public utilities, positioned for rent growth and coastal repositioning.
    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 $1,180,000.
    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
    More about this property
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