9-Unit Apartment Building with
For Sale
$1,495,000
404 22nd Ave. N, Myrtle Beach, SC 29577
Each residence has an ocean-facing private balcony, and shared laundry is available on site.
Property Size6,063 SF
Price / SF$246.58
Days on Market47
Property Features for 404 22nd Ave. N
General Information
Standard status
Active
Size
6,063 SF
Property subtype
Multi Family Home
Zoning
MU-H
Units
Unit Mix
8 x 1BR, 1 x 2BR
Multifamily Units
9
Additional Details
Currently Operating
Yes
Amenities
private balcony
on-site laundry
smart lock systems
property-wide WiFi
ocean views
Building Details
Building Size
6,063 SF
Year Built
1985
Units
9
Listing Agency:
Century 21 Barefoot Realty
Listed By:
The Mills Group Team · License #17587
(843) 390-2121
Source:
Gabrielfinancial
Added: Sep 8
Changed: Oct 23
Last Checked: Oct 23 at 5:34PM
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 Century 21 Barefoot Realty
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Investment Insights
Based on property information with market context.
This 6,063-square-foot apartment property in Myrtle Beach contains nine residences: eight one-bedroom units and one two-bedroom unit. Built in 1985, the building has undergone renovation that included a commercial roof, updated kitchens and bathrooms, furnishings, smart locks, and property-wide WiFi. Every unit opens to a private balcony oriented toward the ocean, and laundry facilities are on site.
The property is a block from the beach at 404 22nd Ave. N. MU-H zoning is reported for the site. The existing configuration combines a nine-unit residential building with private outdoor space for each residence and shared laundry service.
The property is a block from the beach at 404 22nd Ave. N. MU-H zoning is reported for the site. The existing configuration combines a nine-unit residential building with private outdoor space for each residence and shared laundry service.
Key Highlights
- Nine units: eight 1‑bedroom residences and one 2‑bedroom residence
- 6,063 SF building, constructed in 1985
- Private ocean‑facing balcony for every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,969
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,119,380
$1.1M
Cap Rate 7%
$799,557
$799.6K
Cap Rate 9%
$621,878
$621.9K
Market Conditions
NOI Build-Up for 6,063 SF
Gross rent
$106.2K $17.52/SF
− Vacancy
−$4.5K −$0.74/SF
EGI
$101.8K $16.78/SF
− OpEx
−$45.8K −$7.55/SF
NOI
$56.0K $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%
$1,119,380
Cap Rate 7%
$799,557
Cap Rate 9%
$621,878
Alternative Uses
Best Use
Apartment 5plus
$799.6K
$699.6K – $932.8K
NOI $55,969 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,562 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,417
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has an ocean-facing private balcony, and shared laundry is available on site.
Where is this apartment building located?
The property is located at 404 22nd Ave. N Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Nine units: eight 1‑bedroom residences and one 2‑bedroom residence; 6,063 SF building, constructed in 1985; Private ocean‑facing balcony for every unit
