Multifamily Compound Near
For Sale
$999,999
505 32nd Ave. N, Myrtle Beach, SC 29577
Two buildings comprise a front duplex and four rear apartments, with private entries and off-street parking.
Property Size5,604 SF
Price / SF$178.44
Days on Market559
Property Features for 505 32nd Ave. N
General Information
Standard status
Active
Size
5,604 SF
Property subtype
Multi Family Home
Zoning
RES
Lease Term
12 Months
Additional Details
Tenant in Place
Yes
Amenities
ceiling fans
Building Details
Building Size
5,604 SF
Year Built
1966
Buildings
2
Units
6
Listing Agency:
LPT Realty, LLC.
Listed By:
Bryan Ricci
(877) 366-2213
Source:
Gabrielfinancial
Added: Apr 14, 2025
Changed: Oct 23
Last Checked: Oct 23 at 5:21PM
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 LPT Realty, LLC.
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Investment Insights
Based on property information with market context.
At 505 32nd Avenue North, this 5,604-square-foot multifamily property includes two separate buildings. The front building is a duplex described as having two bedrooms and one bathroom. The rear building contains four apartments: two with two bedrooms and two with one bedroom. Each rear unit has a private entrance. The property was built in 1966 and is zoned RES.
The property is in Myrtle Beach, a short walk from the ocean. Shops, dining, entertainment and beach access are nearby, along with the Myrtle Beach Convention Center and Broadway at the Beach. Off-street parking and mature landscaping are also part of the property.
The property is in Myrtle Beach, a short walk from the ocean. Shops, dining, entertainment and beach access are nearby, along with the Myrtle Beach Convention Center and Broadway at the Beach. Off-street parking and mature landscaping are also part of the property.
Key Highlights
- 5,604‑square‑foot multifamily property on 32nd Avenue North in Myrtle Beach
- Two buildings, including a front duplex and a rear building with four apartments
- Rear apartment mix includes two 2‑bedroom units and two 1‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,241
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,144,820
$1.1M
Cap Rate 7%
$817,729
$817.7K
Cap Rate 9%
$636,011
$636.0K
Market Conditions
NOI Build-Up for 5,604 SF
Gross rent
$86.1K $15.36/SF
− Vacancy
−$4.3K −$0.77/SF
EGI
$81.8K $14.59/SF
− OpEx
−$24.5K −$4.38/SF
NOI
$57.2K $10.21/SF
Area
Horry County, SC
Vacancy
5.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,144,820
Cap Rate 7%
$817,729
Cap Rate 9%
$636,011
Alternative Uses
Best Use
Multifamily LT 5
$817.7K
$715.5K – $954.0K
NOI $57,241 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$739.0K
$646.7K – $862.2K
NOI $51,732 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,419 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
807
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings comprise a front duplex and four rear apartments, with private entries and off-street parking.
Where is this multifamily property located?
The property is located at 505 32nd Ave. N Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 5,604‑square‑foot multifamily property on 32nd Avenue North in Myrtle Beach; Two buildings, including a front duplex and a rear building with four apartments; Rear apartment mix includes two 2‑bedroom units and two 1‑bedroom units
