Myrtle Beach Multifamily Investment
404 14th Ave S, Myrtle Beach, SC 29577
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16-unit multifamily property near the ocean in Myrtle Beach.
Type:Hospitality, Multifamily
Property size:
7,985 SFPrice / SF:
$156/SF- Added:
- Feb 9, 2026
- Days on Market:
- 106
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 404 14th Ave S
General Information
- Standard status
- Active
- Size
- 7,985 SF
- Property subtype
- Hospitality, Multifamily
Building Details
- Year Built
- 1954
Listing agent Jeff Forman License #111037
Listing office Keller Williams Innovate South (843) 443-9400
Listing date Feb 9, 2026
Source Crexi
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 Keller Williams Innovate South
HighLights
- Prime location: Short walk to the beach in the heart of Myrtle Beach.
- 16‑unit multifamily property offering immediate cash flow and future upside.
- Diversified unit mix: 9 efficiency units and 7 one‑bedroom units.
- Strong tenant demand due to proximity to dining, entertainment, and employment centers.
- Value‑add potential through renovations and improved management.
- Limited multifamily inventory near the ocean makes this a scarce opportunity.
Overview
This 16-unit multifamily property is located a short walk from the ocean in Myrtle Beach. It offers an investment opportunity for immediate cash flow with future upside. The unit mix consists of 9 efficiency units and 7 one-bedroom units, offering a diversified rental profile that caters well to workforce housing, seasonal demand, and beach-area renters. The property's proximity to the beach, dining, entertainment, and major employment centers supports strong tenant demand and long-term occupancy stability. The asset benefits from its prime coastal location within an area experiencing continued redevelopment and investment activity, positioning it well for appreciation and rent growth over time. The efficient unit layouts provide strong rent-per-square-foot performance, while the density of 16 units allows for operational economies of scale. There is potential for value-add through interior renovations, modernization of common areas, and improved management strategies, offering a pathway to increase net operating income and overall asset value. This property is well-suited for investors seeking a stabilized multifamily asset with the added optionality of exploring alternative operating strategies, subject to local regulations and approvals. With limited multifamily inventory this close to the ocean, opportunities to acquire assets of this size and unit count in Myrtle Beach remain increasingly scarce. The property has a size of 7985 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$819.0K
NOI $73,712 @ 9.00% cap · cautious / downside scenario
Moderate
$1.05M
NOI $73,712 @ 7.00% cap · market / base-case scenario
Aggressive
$1.47M
NOI $73,712 @ 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 | $139.9k | $17.52 |
| − Vacancy | −$5.9k | −$0.74 |
| EGI | $134.0k | $16.78 |
| − OpEx | −$60.3k | −$7.55 |
| NOI | $73.7k | $9.23 |
7,985 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.05M
$921.4K – $1.23M
NOI $73,712 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,660 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Belvedere Motel
Hotel & Motel
Peacebringers Cooperative
Service Establishment
Location Insight
- Map
- Local Demand
- City
- Myrtle Beach
- County
- Horry
- State
- South Carolina
- Longitude
- -78.901423
- Latitude
- 33.6762805
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 16-unit multifamily property near the ocean in Myrtle Beach.
Where is this apartment building located?
The property is located at 404 14th Ave S 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: Prime location: Short walk to the beach in the heart of Myrtle Beach.; 16‑unit multifamily property offering immediate cash flow and future upside.; Diversified unit mix: 9 efficiency units and 7 one‑bedroom units.
