Investment Overview

Marcus & Millichap is pleased to present 401 Alder Street, a 7-unit multifamily community located in Myrtle Beach, South Carolina. Originally built in 1945, the property comprises a duplex building with two one-bedroom, one-bathroom units and a multifamily building with five studio units. The property has benefited from meaningful recent capital investment including roof repairs and sealing on the duplex building, full replacement of the main drain and sewer line from the building to the road, PEX piping upgrades, electrical breaker replacements, and unit-level improvements across the property. The studio units feature kitchenettes with full-size refrigerators (two units also include full-size dishwashers), HVAC is delivered through window A/C units and space heaters throughout the property, and the community features an on-site laundry room. Myrtle Beach anchors the Grand Strand along South Carolina’s Atlantic coast and ranks among the fastest-growing metros in the country. The local economy is diversified across tourism, healthcare, education, and retail, with major employers including Horry County Schools, Coastal Carolina University, Grand Strand Health, Tidelands Health, and McLeod Health. Continued investment in healthcare infrastructure combined with 17.8 million annual visitors and $13.3 billion in direct visitor spending drives sustained long-term rental demand across the Grand Strand region.