Myrtle Beach Multifamily Investment
404 14th Ave. S Myrtle Beach, SC 29577
404 14th Ave. S, Myrtle Beach, SC, 29577
$1,250,000
For Sale
$1,250,000
MULTI_FAMILY - Myrtle Beach, SC
Property Size6,736 SF
Price / SF$185.57
Days on Market158
Property Features for 404 14th Ave. S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Parking features
- Assigned
- Standard status
- Active
- Size
- 6,736 SF
Utilities
- Utilities
- Cable Available
Building Details
- Year built
- 1954
- Number of units
- 16
Listing Agency
Keller Williams The Forturro Group
(843) 443-9400
Myrtle Beach, SC
Listed by
Jeff Forman · License #111037
(843) 902-4325
Added: Feb 9 Checked: Jul 17 at 7:06 am
MLS# 2603478
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.
Investment Insights
Based on property information with market context.
This 16-unit multifamily property is located a short walk from the ocean in Myrtle Beach. The unit mix consists of 9 efficiency units and 7 one-bedroom units. 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 coastal location within an area experiencing continued redevelopment and investment activity. 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. The property size is 6736 square feet.
Key Highlights
- Prime location: Short walk to the ocean in the heart of Myrtle Beach.
- 16 Units: Multifamily property provides immediate cash flow with future upside.
- Diversified Unit Mix: Consists of 9 efficiency units and 7 one‑bedroom units.
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 | $118.0k | $17.52 |
| − Vacancy | −$5.0k | −$0.74 |
| EGI | $113.1k | $16.78 |
| − OpEx | −$50.9k | −$7.55 |
| NOI | $62.2k | $9.23 |
6,736 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$888.3K
$777.3K – $1.04M
NOI $62,182 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,502 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Belvedere Motel
Hotel & Motel
Peacebringers Cooperative
Artist
Similar For Sale Nearby
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 ocean in the heart of Myrtle Beach.; 16 Units: Multifamily property provides immediate cash flow with future upside.; Diversified Unit Mix: Consists of 9 efficiency units and 7 one‑bedroom units.
