906 3rd Avenue 906 3rd Ave N 12 Unit Apartment Building $1,337,992 ($111,499/Unit) 6.46% Cap Rate Myrtle Beach, SC 29577

Marcus & Millichap is pleased to present 906 3rd Avenue, a strategically located 12-unit multifamily investment opportunity in the heart of Myrtle Beach, South Carolina, one of the fastest-growing and most dynamic coastal markets in the Southeast. Built in 1973, the property features a desirable unit mix of ten spacious two-bedroom, one-and-a-half-bath units and two three-bedroom, one-and-a-half-bath units, catering to a strong renter demographic seeking larger floorplans and functional layouts. Situated just minutes from the Atlantic Ocean, the asset benefits from close proximity to Myrtle Beach’s major employment drivers, tourism corridors, retail destinations, and entertainment hubs, while also offering convenient access to primary roadways. This central location supports consistent rental demand and positions the property to benefit from the area’s continued population growth, infrastructure investment, and expanding local economy.
906 3rd Avenue presents a compelling value-add opportunity for investors seeking to enhance cash flow and drive long-term appreciation through interior renovations, operational efficiencies, and strategic repositioning. The property’s larger unit sizes and functional layouts create an ideal foundation for rental premiums as updates are implemented to align with current market expectations. In a submarket characterized by limited infill multifamily inventory and increasing barriers to entry, this asset offers a rare chance to acquire a well-located property with both immediate upside and strong redevelopment potential. Investors can capitalize on Myrtle Beach’s sustained demand for quality workforce housing while positioning the asset for durable income growth and long-term value creation.