Renovated Twelve-Unit Apartment
For Sale
$2,399,900
4807 Little River Rd., Myrtle Beach, SC 29572
MULTI_FAMILY - Myrtle Beach, SC
Property Size13,440 SF
Price / SF$178.56
Days on Market193
Property Features for 4807 Little River Rd.
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Cedar Rock - Myrtle Beach
Elementary school
Myrtle Beach Primary School
Middle school
Myrtle Beach Middle School
High school
Myrtle Beach High School
Standard status
Active
Size
13,440 SF
Building Details
Year built
1986
Number of units
11
Listing Agency:
Own Myrtle Real Estate
(516) 233-0601
Listed By:
Ester Esti Simantov
(843) 457-9780
Added: Jan 28
Changed: Aug 1
Last Checked: Aug 9 at 5:06PM
MLS# 2602489
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 renovated duplex-style apartment complex contains 12 total units, including six condo-style units and six townhouse-style units. The individually deeded condo units are offered for sale as one package. Unit layouts feature generously sized patios or porches, providing usable outdoor space for day-to-day living.
Built in 1986, the property is described as being in excellent condition with a strong rental history and consistent performance. The complex is located off 48th Ave N in an established neighborhood, minutes from the beach. A registered HOA allows for individual resale, giving investors flexibility.
The property totals 13,440 square feet and is offered as a single package sale.
Built in 1986, the property is described as being in excellent condition with a strong rental history and consistent performance. The complex is located off 48th Ave N in an established neighborhood, minutes from the beach. A registered HOA allows for individual resale, giving investors flexibility.
The property totals 13,440 square feet and is offered as a single package sale.
Key Highlights
- Renovated duplex‑style complex with 12 total units: 6 condo‑style and 6 townhouse‑style
- Individually deeded condo units offered for sale as one package
- Generously sized patios or porches included with units
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
$124,069
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
5.17%
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%
$2,481,380
$2.5M
Cap Rate 7%
$1,772,414
$1.8M
Cap Rate 9%
$1,378,544
$1.4M
Market Conditions
NOI Build-Up for 13,440 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
$235.5K $17.52/SF
− Vacancy
−$9.9K −$0.74/SF
EGI
$225.6K $16.78/SF
− OpEx
−$101.5K −$7.55/SF
NOI
$124.1K $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%
$2,481,380
Cap Rate 7%
$1,772,414
Cap Rate 9%
$1,378,544
Alternative Uses
Best Use
Apartment 5plus
$1.77M
$1.55M – $2.07M
NOI $124,069 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.41M
$2.98M – $3.97M
NOI $238,436 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
948
Businesses Nearby
Explore this area
Business Placement
Demographics for 29572, SC
10,711
Population
14,313
Households
0.7
Avg Household Size
57
Median Age
43%
College-Educated
95%
High-School Grad
8.9 sq mi
ZIP Area
1,203
Density / Sq Mi
$75,388
Median Household Income
$36,121
Median Earnings
$1,148
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated duplex-style apartment complex with individually deeded condo units and patio or porch spaces
Where is this apartment building located?
The property is located at 4807 Little River Rd. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $2,399,900.
What are key features of this property?
This property features: Renovated duplex‑style complex with 12 total units: 6 condo‑style and 6 townhouse‑style; Individually deeded condo units offered for sale as one package; Generously sized patios or porches included with units
