Renovated Apartment Building
For Sale
$1,398,000
818 Bay St., Myrtle Beach, SC 29577
MULTI-FAMILY, Myrtle Beach, SC
Property Size5,960 SF
Price / SF$234.56
Days on Market344
Property Features for 818 Bay St.
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Elementary school
Myrtle Beach Elementary School
Middle school
Myrtle Beach Middle School
High school
Myrtle Beach High School
Subdivision
16E Myrtle Beach Area--29th Ave N to 48th Ave N
Standard status
Active
Size
5,960 SF
Building Details
Year built
1972
Number of units
9
Listing Agency:
Own Myrtle Real Estate
(516) 233-0601
Listed By:
Ester Esti Simantov
(843) 457-9780
Added: Nov 5, 2025
Changed: Oct 8
Last Checked: Oct 15 at 12:06PM
MLS# 2526739
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.
Investment Insights
Based on property information with market context.
This apartment portfolio comprises two renovated buildings totaling 5,960 square feet. The property at 831 Bay St includes three units, while the 818 Bay St building contains six units. Each unit is configured with two bedrooms and one bathroom, creating a consistent layout across the portfolio. Both properties were built in 1972 and are currently tenant-occupied.
The buildings are located in Myrtle Beach, South Carolina, within the 29577 ZIP code. The offering combines two separate Bay Street assets under one transaction, with residential units already in place and occupied. The portfolio’s nine-unit configuration and matching floor plans provide a straightforward multifamily format across both buildings.
The buildings are located in Myrtle Beach, South Carolina, within the 29577 ZIP code. The offering combines two separate Bay Street assets under one transaction, with residential units already in place and occupied. The portfolio’s nine-unit configuration and matching floor plans provide a straightforward multifamily format across both buildings.
Key Highlights
- Two‑building apartment portfolio with 5,960 square feet
- 831 Bay St building includes 3 units
- 818 Bay St building includes 6 units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,878
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,217,560
$1.2M
Cap Rate 7%
$869,686
$869.7K
Cap Rate 9%
$676,422
$676.4K
Market Conditions
NOI Build-Up for 5,960 SF
Gross rent
$91.5K $15.36/SF
− Vacancy
−$4.6K −$0.77/SF
EGI
$87.0K $14.59/SF
− OpEx
−$26.1K −$4.38/SF
NOI
$60.9K $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%
$1,217,560
Cap Rate 7%
$869,686
Cap Rate 9%
$676,422
Alternative Uses
Best Use
Multifamily LT 5
$869.7K
$761.0K – $1.01M
NOI $60,878 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$786.0K
$687.7K – $917.0K
NOI $55,018 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,735 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Two renovated buildings offer occupied residential units with established rental operations in Myrtle Beach.
Where is this apartment building located?
The property is located at 818 Bay St. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,398,000.
What are key features of this property?
This property features: Two‑building apartment portfolio with 5,960 square feet; 831 Bay St building includes 3 units; 818 Bay St building includes 6 units
