Multifamily Community with
For Sale
$4,998,000
4601 Lomax Ct., Murrells Inlet, SC 29576
Seven-building multifamily property with 28 units arranged around a private community pool.
Property Size34,720 SF
Days on Market184
Property Features for 4601 Lomax Ct.
General Information
Standard status
Active
Size
34,720 SF
Zoning
MF
Building Details
Building Size
34,720 SF
Stories
2
Listed By:
Beth Campbell · License #49442
(843) 602-9264
Source:
Booerealty.idxbroker
Added: Apr 24
Changed: Oct 7
Last Checked: Oct 23 at 3:26AM
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 Beth Campbell
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Investment Insights
Based on property information with market context.
Wachasaw Place is a multifamily community featuring seven buildings totaling 28 units surrounding a private community pool. Each building contains four units, including two 2-bedroom, 1.5-bath units and two 3-bedroom, 2.5-bath units. The property includes in-unit laundry for all units, and the gross building area of 40,320 SF includes screened porches.
The asset is offered for sale at 4601 Lomax Court in Murrells Inlet, South Carolina. An adjacent site is also available for purchase to construct an additional building.
Units are configured with two-bedroom layouts and three-bedroom layouts within each building, supporting a consistent community plan centered around shared pool amenities.
The asset is offered for sale at 4601 Lomax Court in Murrells Inlet, South Carolina. An adjacent site is also available for purchase to construct an additional building.
Units are configured with two-bedroom layouts and three-bedroom layouts within each building, supporting a consistent community plan centered around shared pool amenities.
Key Highlights
- 1984‑built multifamily property with 7 buildings and 28 units, arranged around a private community pool
- Unit mix: twenty‑eight units include 2 units per building of 2 bed/1.5 bath, 992 SF, and 3 bed/2.5 bath, 1,488 SF units
- Total RSF is 34,720 and total GBA is 40,320 SF (including screened porches)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$320,510
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,410,200
$6.4M
Cap Rate 7%
$4,578,714
$4.6M
Cap Rate 9%
$3,561,222
$3.6M
Market Conditions
NOI Build-Up for 34,720 SF
Gross rent
$608.3K $17.52/SF
− Vacancy
−$25.5K −$0.74/SF
EGI
$582.7K $16.78/SF
− OpEx
−$262.2K −$7.55/SF
NOI
$320.5K $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%
$6,410,200
Cap Rate 7%
$4,578,714
Cap Rate 9%
$3,561,222
Alternative Uses
Best Use
Apartment 5plus
$4.58M
$4.01M – $5.34M
NOI $320,510 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.80M
$7.70M – $10.27M
NOI $615,961 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
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Demographics for 29576, SC
32,476
Population
22,097
Households
1.5
Avg Household Size
61
Median Age
32%
College-Educated
96%
High-School Grad
30.5 sq mi
ZIP Area
1,065
Density / Sq Mi
$70,343
Median Household Income
$36,352
Median Earnings
$1,467
Median Rent
$315,700
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 - Seven-building multifamily property with 28 units arranged around a private community pool.
Where is this apartment building located?
The property is located at 4601 Lomax Ct. Murrells Inlet, SC.
What is the asking price?
The asking price for this property is $4,998,000.
What are key features of this property?
This property features: 1984‑built multifamily property with 7 buildings and 28 units, arranged around a private community pool; Unit mix: twenty‑eight units include 2 units per building of 2 bed/1.5 bath, 992 SF, and 3 bed/2.5 bath, 1,488 SF units; Total RSF is 34,720 and total GBA is 40,320 SF (including screened porches)
