9-Unit Apartment
For Sale
$900,000
504 6th Ave. N, Myrtle Beach, SC 29577
Commercial zoning and varied apartment layouts support both long- and short-term rental options.
Property Size6,200 SF
Price / SF$145.16
Days on Market466
Property Features for 504 6th Ave. N
General Information
Standard status
Active
Size
6,200 SF
Property subtype
Multi Family Home
Zoning
HC2
Units
Unit Mix
6 x 2BR/1.5BA, 2 x 2BR/1BA, 1 x 1BR
Multifamily Units
9
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Building Details
Building Size
6,200 SF
Year Built
1959
Units
9
Listing Agency:
Gabriel Financial Real Estate
(843) 663-5335
Listed By:
Timothy H. Gabriel · License #10663
(843) 222-5335
Source:
Gabrielfinancial
Added: Jul 15, 2025
Changed: Oct 23
Last Checked: Oct 23 at 3:48PM
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 Gabriel Financial Real Estate
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Investment Insights
Based on property information with market context.
This 9-unit apartment building contains six 2-bedroom, 1.5-bath units, two 2-bedroom, 1-bath units, and one 1-bedroom unit. The 6,200-square-foot property was built in 1959, and most apartments have updated flooring, appliances, and paint. Electric service is separately metered for each unit; water is included in rent. The building is primarily occupied by tenants.
Located two blocks from the ocean and one block from downtown Myrtle Beach, the property is near the Arts Innovation district, where development is underway, along with entertainment, restaurants, and shopping. HC2 zoning allows long- and short-term rental options.
Located two blocks from the ocean and one block from downtown Myrtle Beach, the property is near the Arts Innovation district, where development is underway, along with entertainment, restaurants, and shopping. HC2 zoning allows long- and short-term rental options.
Key Highlights
- 9 apartments: six 2‑bedroom/1.5‑bath, two 2‑bedroom/1‑bath, and one 1‑bedroom unit
- 6,200 square feet; built in 1959
- Most units have updated flooring, appliances, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,234
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,144,680
$1.1M
Cap Rate 7%
$817,629
$817.6K
Cap Rate 9%
$635,933
$635.9K
Market Conditions
NOI Build-Up for 6,200 SF
Gross rent
$108.6K $17.52/SF
− Vacancy
−$4.6K −$0.74/SF
EGI
$104.1K $16.78/SF
− OpEx
−$46.8K −$7.55/SF
NOI
$57.2K $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%
$1,144,680
Cap Rate 7%
$817,629
Cap Rate 9%
$635,933
Alternative Uses
Best Use
Apartment 5plus
$817.6K
$715.4K – $953.9K
NOI $57,234 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,993 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,521
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 - Commercial zoning and varied apartment layouts support both long- and short-term rental options.
Where is this apartment building located?
The property is located at 504 6th Ave. N Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 9 apartments: six 2‑bedroom/1.5‑bath, two 2‑bedroom/1‑bath, and one 1‑bedroom unit; 6,200 square feet; built in 1959; Most units have updated flooring, appliances, and paint
