Renovated 9-Unit Apartment
For Sale
$1,495,000
404 22nd Ave. N, Myrtle Beach, SC 29577
MULTI-FAMILY, Myrtle Beach, SC
Property Size6,063 SF
Price / SF$246.58
Days on Market46
Property Features for 404 22nd Ave. N
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Parking features
Assigned, Carport
Subdivision
East Chester
Lot features
Rectangular, East of Bus. 17, East of Highway 17 Bypass
Elementary school
Myrtle Beach Elementary School
Middle school
Myrtle Beach Middle School
High school
Myrtle Beach High School
Standard status
Active
Size
6,063 SF
Utilities
Utilities
Cable Available
Amenities
private balcony
on-site laundry
smart lock
property-wide WiFi
Building Details
Year built
1985
Number of units
9
Listing Agency:
Century 21 Barefoot Realty · Century 21 Real Estate
(843) 390-2121
Listed By:
The Mills Group Team
(843) 252-0847
Added: Sep 8
Changed: Oct 23
Last Checked: Oct 23 at 8:06PM
MLS# 2622145
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.
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Investment Insights
Based on property information with market context.
This 9-unit apartment property contains 6,063 square feet and was built in 1985. The unit mix includes eight 1-bedroom apartments and one 2-bedroom apartment, with private ocean-facing balconies serving every unit. Recent improvements include a commercial roof, updated kitchens and bathrooms, furnishings, smart-lock systems, and property-wide WiFi. On-site laundry and assigned parking with carport spaces add practical operating features.
The property is located at 404 22nd Ave. N in Myrtle Beach, one block from the beach and near golf courses, dining, shopping, and area attractions. Its current configuration supports short-term rental operation, with the physical setup also accommodating a boutique hospitality or bed-and-breakfast concept.
The property is located at 404 22nd Ave. N in Myrtle Beach, one block from the beach and near golf courses, dining, shopping, and area attractions. Its current configuration supports short-term rental operation, with the physical setup also accommodating a boutique hospitality or bed-and-breakfast concept.
Key Highlights
- 9‑unit apartment property totaling 6,063 square feet
- Unit mix includes eight 1‑bedroom units and one 2‑bedroom unit
- Every unit has a private balcony facing the ocean
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
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Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,361
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 - Coastal property with ocean-facing balconies, on-site laundry, assigned parking, and updated guest accommodations.
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: 9‑unit apartment property totaling 6,063 square feet; Unit mix includes eight 1‑bedroom units and one 2‑bedroom unit; Every unit has a private balcony facing the ocean
