Myrtle Beach Multifamily
706 Mitchell Dr. Myrtle Beach, SC 29577
For Sale
$824,000
MULTI_FAMILY - Myrtle Beach, SC
Property Size2,650 SF
Price / SF$310.94
Days on Market186
Property Features for 706 Mitchell Dr.
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 2,650 SF
Building Details
- Year built
- 1998
- Number of units
- 4
Listing Agency:
Own Myrtle Real Estate
(516) 233-0601
Listed By:
Ester Esti Simantov
(843) 457-9780
Added: Jan 19
Changed: May 21
Last Checked: Jul 24 at 1:06PM
MLS# 2601686
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 four-unit brick property, totaling 2,650 square feet, is located in Myrtle Beach, South Carolina. Positioned for cash flow, the property offers low maintenance and long-term durability. It is suitable for generating income through Airbnb or long-term rentals. Each unit is individually metered for electricity and qualifies for FHA financing. The property is located close to the beach, shopping, and local attractions. The property is located in Horry County.
Key Highlights
- Prime income‑producing 4‑unit brick property
- High‑performing Airbnb or long‑term rental potential
- Located in the heart of Myrtle Beach, minutes from beach, shopping, and attractions
Financial Insights For Multifamily LT 5
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 | $40.7k | $15.36 |
| − Vacancy | −$2.0k | −$0.77 |
| EGI | $38.7k | $14.59 |
| − OpEx | −$11.6k | −$4.38 |
| NOI | $27.1k | $10.21 |
2,650 SF · lease $15.36/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$386.7K
$338.4K – $451.1K
NOI $27,068 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$349.5K
$305.8K – $407.7K
NOI $24,463 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$671.6K
$587.7K – $783.6K
NOI $47,013 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit property in Myrtle Beach, ideal for rental income.
Where is this quadplex located?
The property is located at 706 Mitchell Dr. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $824,000.
What are key features of this property?
This property features: Prime income‑producing 4‑unit brick property; High‑performing Airbnb or long‑term rental potential; Located in the heart of Myrtle Beach, minutes from beach, shopping, and attractions
