Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Six Condo Units Package Title is generated by Realmo AI

    505 63rd Ave. N, Myrtle Beach, SC 29572

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $799,000

    MULTI_FAMILY - Myrtle Beach, SC

    Type:Apartment
    Property size:
    6,000 SF
    Price / SF:
    $133/SF
    Added:
    Sep 1, 2025
    Days on Market:
    275
    Last Refresh:
    Jun 2 at 5:06 am

    Property Features for 505 63rd Ave. N

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active Under Contract
    Size
    6,000 SF

    Building Details

    Year built
    1982
    Number of units
    6

    We can help!

    Listing Contact
    Edgar Wilson

    Listing agent Edgar Wilson License #40250

    Listing office Circa Real Estate Myrtle Beach, SC

    Listing date Sep 1, 2025

    MLS# 2525423 Listing URL

    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.

    HighLights

    • Package deal: Six individually deeded condo units in one building.
    • Rental income potential: Units can be rented long or short term.
    • Prime location: Short walk or golf cart ride to shopping, golf, dining, and the beach.
    • Six 2‑bedroom, 2‑bath units.
    • All units in one building.
    • Year Built: 1982

    Overview

    A package of six individually deeded condo units is available for purchase. The units are located within a single building and can be rented for both long and short terms. Each unit features two bedrooms and two bathrooms. The property is located within a short walk or golf cart ride to shopping, golf, dining, and the beach. The total property size is approximately 6,000 square feet. The property is being sold in its current condition.

    Local 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 $105.1k $17.52
    − Vacancy −$4.4k −$0.74
    EGI $100.7k $16.78
    − OpEx −$45.3k −$7.55
    NOI $55.4k $9.23
    6,000 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $791.3K
    $692.4K – $923.1K (±1% cap)
    NOI $55,388 @ 7.0% cap · market cap 6.93%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.52M
    $1.33M – $1.77M (±1% cap)
    NOI $106,445 @ 7.0% cap · market cap 13.32%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Myrtle Beach
    County
    Horry
    State
    South Carolina
    Longitude
    -78.831886
    Latitude
    33.737286

    Nearby Similar for Sale

    • $834,900
      2,416 SF

      Well-Maintained Office Building in Myrtle Beach

      Two-story office building with parking and storage in central location.
      161 McDonald Ct., Myrtle Beach, SC 29588
      View Details
    • $850,000
      5,556 SF

      Commercial Property in Myrtle Beach

      Commercial property for sale in a fast-growing area.
      100 Lichen Ct., Myrtle Beach, SC 29588
      View Details
    • $2,150,000
      9,432 SF

      Two-Story Office Building in Myrtle Beach

      Well-maintained office building in Myrtle Beach's professional corridor.
      4702 Oleander Dr., Myrtle Beach, SC 29577
      View Details
    • $1,249,900
      4,400 SF

      Myrtle Beach Office Building Investment

      Well-maintained, fully leased office building in central Myrtle Beach.
      4605 Oleander Dr., Myrtle Beach, SC 29577
      View Details
    • $879,000
      3,390 SF

      Myrtle Beach Multifamily Investment

      Four-unit multifamily property near the beach in Myrtle Beach.
      304 1st Ave. N, Myrtle Beach, SC 29577
      View Details
    • $1,799,000
      9,959 SF

      Myrtle Beach Professional Office Park

      Centrally located office park with medical/professional space for sale.
      710 21st Ave. N, Myrtle Beach, SC 29577
      View Details
    • $125,000
      3,500 SF

      Turnkey Myrtle Beach Restaurant Opportunity

      Fully operational restaurant with unique concept and strong growth potential.
      4620 Dick Pond Rd., Myrtle Beach, SC 29588
      View Details
    • $558,000
      4,716 SF

      Multifamily Income Property in Myrtle Beach

      Multifamily property with five units in central Myrtle Beach.
      1405 Dunbar St., Myrtle Beach, SC 29577
      View Details
    • $755,000
      5,770 SF

      Myrtle Beach Multifamily Investment

      Six-unit apartment building in Myrtle Beach's downtown rental market.
      600 17th Ave. N, Myrtle Beach, SC 29577
      View Details
    • $1,339,900
      13,200 SF

      Myrtle Beach Multifamily Investment Opportunity

      Centrally located multi-unit apartment property in high-demand coastal rental market.
      906 3rd Ave. N, Myrtle Beach, SC 29577
      View Details
    • $390,000
      1,943 SF

      Myrtle Beach Multifamily Opportunity

      Duplex near the beach, zoned for high-density multifamily development.
      406 13th Avenue S, Myrtle Beach, SC 29577
      View Details
    • $1,029,900
      8,184 SF

      Myrtle Beach Multifamily Investment Opportunity

      Nine-unit multifamily property in Myrtle Beach's desirable rental corridor.
      604 19th Ave. N, Myrtle Beach, SC 29577
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six individually deeded condo units in Myrtle Beach, South Carolina.
    Where is this apartment building located?
    The property is located at 505 63rd Ave. N Myrtle Beach, SC.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Package deal: **Six individually deeded condo units in one building.**; Rental income potential: Units can be rented long or short term.; Prime location: **Short walk or golf cart ride to shopping, golf, dining, and the beach.**
    (843) 222-3172
    We can help!
    Listing Contact
    Edgar Wilson
    Real Estate License ID: 40250
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    505 63rd Ave. N, Myrtle Beach, SC 29572
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!