How do I host a web application and an API from the same server while keeping them in separate?

Let’s say we have 2 separate applications, a Web Api application and a MVC application both written in .NET 4.5. If you were to host the MVC application in IIS under the host header “https://www.mymvcapp.com/” would it be possible to host the Web Api application separately in IIS under the host header “https://www.mymvcapp.com/api/“?