42-Unit Apartment
For Sale
$4,500,000
3170 Holmestown Rd., Myrtle Beach, SC 29588
MULTI-FAMILY, Myrtle Beach, SC
Property Size22,772 SF
Lot Size1.63 Acres
Price / SF$197.61
Days on Market544
Property Features for 3170 Holmestown Rd.
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Elementary school
Forestbrook Elementary School
Middle school
Socastee Middle School
High school
Socastee High School
Subdivision
26A Myrtle Beach Area--south of 544 & west of 17 bypass M.I. Horry County
Standard status
Active
Size
22,772 SF
Lot size
1.63 Acres
Amenities
onsite laundry facilities
Building Details
Year built
1997
Number of units
42
Listing Agency:
Own Myrtle Real Estate
(516) 233-0601
Listed By:
Ester Esti Simantov
(843) 457-9780
Added: Apr 22, 2025
Changed: Oct 8
Last Checked: Oct 17 at 10:06AM
MLS# 2510132
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.
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Investment Insights
Based on property information with market context.
This apartment property contains 42 units across two all-brick buildings completed in 1997. The improvements total 22,772 square feet on 1.63 acres and include steel-frame stairs, balconies, a paved parking lot, and on-site laundry facilities. An office with manager’s living quarters is also part of the property.
Located in Myrtle Beach, South Carolina, the property is offered with 100% occupancy. The combination of two-building construction, resident amenities, parking, and on-site management space provides a defined multifamily configuration.
Located in Myrtle Beach, South Carolina, the property is offered with 100% occupancy. The combination of two-building construction, resident amenities, parking, and on-site management space provides a defined multifamily configuration.
Key Highlights
- 42 units in two all‑brick buildings
- 22,772 square feet on 1.63 acres
- Built in 1997
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$210,215
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,204,300
$4.2M
Cap Rate 7%
$3,003,071
$3.0M
Cap Rate 9%
$2,335,722
$2.3M
Market Conditions
NOI Build-Up for 22,772 SF
Gross rent
$399.0K $17.52/SF
− Vacancy
−$16.8K −$0.74/SF
EGI
$382.2K $16.78/SF
− OpEx
−$172.0K −$7.55/SF
NOI
$210.2K $9.23/SF
Area
Horry County, SC
Vacancy
4.20%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,204,300
Cap Rate 7%
$3,003,071
Cap Rate 9%
$2,335,722
Alternative Uses
Best Use
Apartment 5plus
$3.00M
$2.63M – $3.50M
NOI $210,215 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.77M
$5.05M – $6.73M
NOI $403,993 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
42
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 29588, SC
48,113
Population
22,223
Households
2.2
Avg Household Size
45
Median Age
26%
College-Educated
92%
High-School Grad
42.0 sq mi
ZIP Area
1,146
Density / Sq Mi
$66,854
Median Household Income
$34,518
Median Earnings
$1,220
Median Rent
$241,700
Median Home Value
Check the figures for this property
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?
Apartment building - Two all-brick buildings include paved parking, laundry facilities, and on-site management space.
Where is this apartment building located?
The property is located at 3170 Holmestown Rd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 42 units in two all‑brick buildings; 22,772 square feet on 1.63 acres; Built in 1997
