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 Market138
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: Sep 6
Last Checked: Sep 8 at 3:34AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$320,510
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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)
