Renovated Furnished
New
For Sale
$759,900
403 13th Ave. S, Myrtle Beach, SC 29577
MULTI-FAMILY, Myrtle Beach, SC
Property Size3,251 SF
Price / SF$233.74
Days on Market5
Property Features for 403 13th Ave. S
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Carport
Lot features
Rectangular, East of Bus. 17
Elementary school
Myrtle Beach Elementary School
Middle school
Myrtle Beach Middle School
High school
Myrtle Beach High School
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
3,251 SF
Utilities
Utilities
Cable Available
Amenities
custom wood pergola
elevated deck
Building Details
Year built
1970
Number of units
3
Listing Agency:
Century 21 The Harrelson Group · Century 21 Real Estate
(843) 903-3550
Listed By:
Daniel Kureshi
(843) 945-0968
Added: Aug 25
Last Checked: Aug 29 at 2:06AM
MLS# 2621052
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.
Investment Insights
Based on property information with market context.
Located at 403 13th Ave. S in Myrtle Beach, this 3,251-square-foot triplex combines a renovated main house with a separate rear building containing two true one-bedroom, one-bath residences. Built in 1970, the property is furnished and includes a carport, cable availability, and a spacious backyard with a custom wood pergola and elevated deck.
The main residence is operating as a short-term rental, while the rear apartments are leased on a long-term basis. Recent improvements to the primary home include new ductwork, a refrigerator, and a washer and dryer. One rear unit has a new water heater. The three-unit configuration supports separate occupancy arrangements, including use of one residence with rental operation of the others.
The main residence is operating as a short-term rental, while the rear apartments are leased on a long-term basis. Recent improvements to the primary home include new ductwork, a refrigerator, and a washer and dryer. One rear unit has a new water heater. The three-unit configuration supports separate occupancy arrangements, including use of one residence with rental operation of the others.
Key Highlights
- 3,251‑square‑foot triplex on 403 13th Ave. S, Myrtle Beach, SC 29577
- Main house plus a separate rear building with two one‑bedroom, one‑bath units
- Main residence operates as a short‑term rental; rear units are long‑term rentals
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
$33,207
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
4.37%
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%
$664,140
$664.1K
Cap Rate 7%
$474,386
$474.4K
Cap Rate 9%
$368,967
$369.0K
Market Conditions
NOI Build-Up for 3,251 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
$49.9K $15.36/SF
− Vacancy
−$2.5K −$0.77/SF
EGI
$47.4K $14.59/SF
− OpEx
−$14.2K −$4.38/SF
NOI
$33.2K $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%
$664,140
Cap Rate 7%
$474,386
Cap Rate 9%
$368,967
Alternative Uses
Best Use
Multifamily LT 5
$474.4K
$415.1K – $553.5K
NOI $33,207 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$428.7K
$375.1K – $500.2K
NOI $30,011 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$823.9K
$720.9K – $961.3K
NOI $57,675 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Explore this area
Business Placement
Demographics for 29577, SC
34,109
Population
22,630
Households
1.5
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
22.8 sq mi
ZIP Area
1,496
Density / Sq Mi
$48,561
Median Household Income
$33,591
Median Earnings
$1,130
Median Rent
$273,700
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 residences include a primary home and two separate one-bedroom apartments with distinct long-term and short-term rental use.
Where is this triplex located?
The property is located at 403 13th Ave. S Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: 3,251‑square‑foot triplex on 403 13th Ave. S, Myrtle Beach, SC 29577; Main house plus a separate rear building with two one‑bedroom, one‑bath units; Main residence operates as a short‑term rental; rear units are long‑term rentals
