Four-Unit Quadplex Near
For Sale
$1,050,000
1511 Holly Dr., North Myrtle Beach, SC 29582
Fully occupied coastal property with a varied unit mix, upper-level views, and dedicated storage for residents.
Property Size5,088 SF
Price / SF$206.37
Days on Market98
Property Features for 1511 Holly Dr.
General Information
Standard status
Active
Size
5,088 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
3 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
4
Amenities
storage units
Building Details
Year Built
1991
Listing Agency:
Sloan Realty Group
Listed By:
Barron Calvert · License #13478
(843) 222-9265
Source:
Costacoastalproperties
Added: Jul 9
Changed: Oct 3
Last Checked: Oct 11 at 3:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sloan Realty Group
Investment Insights
Based on property information with market context.
This 5,088-square-foot quadplex, built in 1991, contains four separate units. Three residences offer two bedrooms and two bathrooms, while the private top-floor unit includes three bedrooms and two bathrooms along with ocean views. The property is fully occupied and supports both short-term and long-term rental use.
Three HVAC systems were replaced within the last six years, and an HVAC maintenance contract conveys to the new owner. Storage includes six large units: one assigned to each residence, an additional unit for Unit 1, and a separate owner storage area. The property sits less than two blocks from the ocean and is within walking distance of North Myrtle Beach and the Ocean Drive district, with restaurants, shopping, live music, and entertainment nearby.
Three HVAC systems were replaced within the last six years, and an HVAC maintenance contract conveys to the new owner. Storage includes six large units: one assigned to each residence, an additional unit for Unit 1, and a separate owner storage area. The property sits less than two blocks from the ocean and is within walking distance of North Myrtle Beach and the Ocean Drive district, with restaurants, shopping, live music, and entertainment nearby.
Key Highlights
- 5,088‑square‑foot quadplex with four individual units
- Three 2‑bedroom, 2‑bath units plus a 3‑bedroom, 2‑bath top‑floor residence
- Private top‑floor unit includes ocean views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,971
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,420
$1.0M
Cap Rate 7%
$742,443
$742.4K
Cap Rate 9%
$577,456
$577.5K
Market Conditions
NOI Build-Up for 5,088 SF
Gross rent
$78.2K $15.36/SF
− Vacancy
−$3.9K −$0.77/SF
EGI
$74.2K $14.59/SF
− OpEx
−$22.3K −$4.38/SF
NOI
$52.0K $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%
$1,039,420
Cap Rate 7%
$742,443
Cap Rate 9%
$577,456
Alternative Uses
Best Use
Multifamily LT 5
$742.4K
$649.6K – $866.2K
NOI $51,971 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$671.0K
$587.1K – $782.8K
NOI $46,969 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,265 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
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Business Placement
Demographics for 29582, SC
18,897
Population
27,559
Households
0.7
Avg Household Size
62
Median Age
38%
College-Educated
94%
High-School Grad
21.9 sq mi
ZIP Area
863
Density / Sq Mi
$71,030
Median Household Income
$36,906
Median Earnings
$1,194
Median Rent
$370,700
Median Home Value
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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?
Quadplex - Fully occupied coastal property with a varied unit mix, upper-level views, and dedicated storage for residents.
Where is this quadplex located?
The property is located at 1511 Holly Dr. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 5,088‑square‑foot quadplex with four individual units; Three 2‑bedroom, 2‑bath units plus a 3‑bedroom, 2‑bath top‑floor residence; Private top‑floor unit includes ocean views
