3-Unit Triplex with
New
For Sale
$1,250,000
3908 Seaview St., North Myrtle Beach, SC 29582
Three distinct residences, outdoor recreation space, and ocean-view decking create a flexible rental property.
Property Size3,780 SF
Price / SF$330.69
Days on Market3
Property Features for 3908 Seaview St.
General Information
Standard status
Active
Size
3,780 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/3BA, 1 x 4BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Amenities
pool
picnic tables
decking
Building Details
Year Built
1958
Buildings
1
Listing Agency:
Shoreline Realty
(843) 839-1111
Listed By:
INNOVATE Real Estate
(843) 438-6959
Source:
Darrenwoodard
Added: Sep 24
Last Checked: Sep 26 at 7:20AM
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 Shoreline Realty
Investment Insights
Based on property information with market context.
This 3,780-square-foot triplex, built in 1958, contains three residences: a 4-bedroom, 3-bath unit, a 4-bedroom, 2-bath unit, and a 1-bedroom, 1-bath unit. The side residence has its own entrance and driveway, along with a kitchen, living area, walk-in closet, and washer and dryer. Shared outdoor features include a pool, picnic tables, parking, and decking with ocean views. Interior improvements include quartz countertops and LVP flooring. Updates include a roof replacement in 2021, flooring and paint in 2023, and an upper deck and some windows in 2025.
The property occupies a corner lot about one block from the ocean in North Myrtle Beach’s Windy Hill section. It is in an X flood zone and has no HOA. Barefoot Landing, House of Blues, Alabama Theatre, shops, restaurants, and golf courses are among the nearby attractions identified.
The property occupies a corner lot about one block from the ocean in North Myrtle Beach’s Windy Hill section. It is in an X flood zone and has no HOA. Barefoot Landing, House of Blues, Alabama Theatre, shops, restaurants, and golf courses are among the nearby attractions identified.
Key Highlights
- Three residences totaling 9 bedrooms and 6 bathrooms
- 3,780 square feet; built in 1958
- Unit mix: 4 bedrooms/3 bathrooms, 4 bedrooms/2 bathrooms, and 1 bedroom/1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,610
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$772,200
$772.2K
Cap Rate 7%
$551,571
$551.6K
Cap Rate 9%
$429,000
$429.0K
Market Conditions
NOI Build-Up for 3,780 SF
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.
Gross rent
$58.1K $15.36/SF
− Vacancy
−$2.9K −$0.77/SF
EGI
$55.2K $14.59/SF
− OpEx
−$16.5K −$4.38/SF
NOI
$38.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$772,200
Cap Rate 7%
$551,571
Cap Rate 9%
$429,000
Alternative Uses
Best Use
Multifamily LT 5
$551.6K
$482.6K – $643.5K
NOI $38,610 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$498.5K
$436.2K – $581.6K
NOI $34,894 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$958.0K
$838.3K – $1.12M
NOI $67,060 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
536
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct residences, outdoor recreation space, and ocean-view decking create a flexible rental property.
Where is this triplex located?
The property is located at 3908 Seaview St. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three residences totaling 9 bedrooms and 6 bathrooms; 3,780 square feet; built in 1958; Unit mix: 4 bedrooms/3 bathrooms, 4 bedrooms/2 bathrooms, and 1 bedroom/1 bathroom
