15-Unit Coastal Apartment
510 S Ocean Blvd., North Myrtle Beach, SC 29582
For Sale
New
$1,599,900
MULTI-FAMILY, North Myrtle Beach, SC
Property Size5,419 SF
Price / SF$295.24
Days on Market2
Property Features for 510 S Ocean Blvd.
General Information
Property type
Property subtype
Parking features
Lot features
Elementary school
Middle school
High school
Subdivision
Standard status
Size
Utilities
Utilities
Amenities
game lounge
on-site laundry
outdoor gathering spaces
Building Details
Year built
Number of units
Listing Agency:
Dargan Real Estate
(843) 712-2585
Listed By:
Moshe Ben-Ezra · License SC #100596
(843) 922-1818
Added: Nov 12
Last Checked: Nov 13 at 4:06AM
MLS# 2627411
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.
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Investment Insights
Based on property information with market context.
Built in 1969, this 5,419-square-foot apartment property contains 15 accommodations: 13 efficiency suites with king-bed or two-queen-bed arrangements, plus two two-bedroom residences. Updates made within the last few years include tiled showers, LED mirrors, updated lighting, and decorative interior details. Shared facilities include a game lounge, on-site laundry, and outdoor gathering areas. Assigned parking is available, and cable service is available at the property.
The property is on S. Ocean Blvd. in North Myrtle Beach, steps from the beach and near Main Street dining, shopping, and entertainment. The property has no HOA fees or association restrictions.
The property is on S. Ocean Blvd. in North Myrtle Beach, steps from the beach and near Main Street dining, shopping, and entertainment. The property has no HOA fees or association restrictions.
Key Highlights
- 15 accommodations: 13 efficiency suites and two two‑bedroom residences
- 5,419 square feet; built in 1969
- Efficiency suites offer king‑bed or two‑queen‑bed configurations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,024
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,000,480
$1.0M
Cap Rate 7%
$714,629
$714.6K
Cap Rate 9%
$555,822
$555.8K
Market Conditions
NOI Build-Up for 5,419 SF
Gross rent
$94.9K $17.52/SF
− Vacancy
−$4.0K −$0.74/SF
EGI
$91.0K $16.78/SF
− OpEx
−$40.9K −$7.55/SF
NOI
$50.0K $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%
$1,000,480
Cap Rate 7%
$714,629
Cap Rate 9%
$555,822
Alternative Uses
Best Use
Apartment 5plus
$714.6K
$625.3K – $833.7K
NOI $50,024 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,137 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
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Business Placement
Demographics for 29582, SC
18,897
Population
27,559
Households
0.7
Avg Household Size
62
Median Age
38%
College-Educated
94%
High-School Grad
21.9 sq mi
ZIP Area
863
Density / Sq Mi
$71,030
Median Household Income
$36,906
Median Earnings
$1,194
Median Rent
$370,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Horry County, SC
Properties on Market for Apartment buildings in Horry County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A mixed accommodation layout pairs efficiency suites with two-bedroom residences, supported by shared guest amenities and outdoor gathering areas.
Where is this apartment building located?
The property is located at 510 S Ocean Blvd. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: 15 accommodations: 13 efficiency suites and two two‑bedroom residences; 5,419 square feet; built in 1969; Efficiency suites offer king‑bed or two‑queen‑bed configurations
