Myrtle Beach Multifamily Investment
604 37th Ave. N, Myrtle Beach, SC 29577
MULTI_FAMILY - Myrtle Beach, SC
Type:Apartment
Property size:
6,648 SFPrice / SF:
$132/SF- Added:
- Feb 9, 2026
- Days on Market:
- 113
- Last Refresh:
- Jun 2 at 3:06 am
Property Features for 604 37th Ave. N
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Standard status
- Active
- Size
- 6,648 SF
Utilities
- Utilities
- Cable Available
Building Details
- Year built
- 1973
- Number of units
- 8
Listing agent Jeff Forman License #111037 (843) 902-4325
Listing office Keller Williams The Forturro Group Myrtle Beach, SC (843) 443-9400
Listing date Feb 9, 2026
MLS# 2603493
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
- Short walk (three blocks) to the beach.
- Located in a highly sought‑after rental pocket of Myrtle Beach.
- Excellent unit mix: four 1‑bedroom and four 2‑bedroom units.
- Significant rent growth potential through renovations and unit modernization.
- Opportunity to improve NOI through professional management and expense controls.
- Strong tenant demand and durable occupancy due to beach proximity.
Overview
Located in a sought-after rental area of Myrtle Beach, the multifamily property at 604 37th Ave N presents an opportunity to acquire an asset within walking distance of the beach. The building features a unit mix of four 1-bedroom and four 2-bedroom units. The property's location near the beach allows for potential rent growth through renovations and unit modernization. Professional management could improve net operating income through expense controls, leasing and collections management, and standardized unit turnovers. The area's combination of year-round renters and coastal demand supports absorption, and updated interiors could reposition the asset within its submarket. The property contains 6,648 square feet.
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 | $116.5k | $17.52 |
| − Vacancy | −$4.9k | −$0.74 |
| EGI | $111.6k | $16.78 |
| − OpEx | −$50.2k | −$7.55 |
| NOI | $61.4k | $9.23 |
6,648 SF · lease $17.52/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$876.7K
$767.1K – $1.02M
NOI $61,370 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.97M
NOI $117,941 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Marquise's Mobile Tire ...
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Myrtle Beach
- County
- Horry
- State
- South Carolina
- Longitude
- -78.859854
- Latitude
- 33.717274
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Multifamily property near the beach with strong rental demand.
Where is this apartment building located?
The property is located at 604 37th Ave. N Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Short walk (three blocks) to the beach.; Located in a highly sought‑after rental pocket of Myrtle Beach.; Excellent unit mix: **four 1‑bedroom and four 2‑bedroom units**.
