Two-Building Multifamily with 1-Bed
501 N Oak St. Myrtle Beach, SC 29577
For Sale
$615,000
Two-building multifamily with eight 1-bedroom units, offered for sale in a designated opportunity zone.
Property Size3,560 SF
Price / SF$172.75
Days on Market226
Property Features for 501 N Oak St.
General Information
- Standard status
- Active
- Size
- 3,560 SF
- Property subtype
- Apartment
Building Details
- Year Built
- 1960
Listing Agency:
Keller Williams The Forturro G
(843) 443-9400
Listed By:
Jeff Forman · License #111037
(843) 902-4325
Source:
Xome
Added: Dec 11, 2025
Changed: Jul 23
Last Checked: Jul 24 at 5:19AM
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 Keller Williams The Forturro G
Investment Insights
Based on property information with market context.
This for-sale multifamily property includes two buildings totaling eight 1-bedroom units. The offering is positioned in a designated opportunity zone.
The buildings are described as needing TLC, and the property is priced accordingly. This creates a straightforward acquisition for buyers comfortable with renovation and value-add work.
Overall, the configuration is simple and concentrated, with all units being 1-bedroom across the two-building layout.
The buildings are described as needing TLC, and the property is priced accordingly. This creates a straightforward acquisition for buyers comfortable with renovation and value-add work.
Overall, the configuration is simple and concentrated, with all units being 1-bedroom across the two-building layout.
Key Highlights
- Two‑building multifamily with 8 total 1‑bedroom units
- Zoned RMM
- Lot dimensions: 204' x 70' x 204' x 69' (rectangular)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.4k | $17.52 |
| − Vacancy | −$2.6k | −$0.74 |
| EGI | $59.8k | $16.78 |
| − OpEx | −$26.9k | −$7.55 |
| NOI | $32.9k | $9.23 |
3,560 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$469.5K
$410.8K – $547.7K
NOI $32,863 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$902.2K
$789.5K – $1.05M
NOI $63,157 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Jennifers Apartment
Apartment Building
FAQs
What type of property is this?
Apartment building - Two-building multifamily with eight 1-bedroom units, offered for sale in a designated opportunity zone.
Where is this apartment building located?
The property is located at 501 N Oak St. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Two‑building multifamily with 8 total 1‑bedroom units; Zoned RMM; Lot dimensions: 204' x 70' x 204' x 69' (rectangular)
