Four-Unit Quadplex with Ocean
For Sale
$1,050,000
1511 Holly Dr., North Myrtle Beach, SC 29582
MULTI-FAMILY, North Myrtle Beach, SC
Property Size5,088 SF
Price / SF$206.37
Days on Market97
Property Features for 1511 Holly Dr.
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Carport
Lot features
East of Bus. 17, East of Highway 17 Bypass, Inside City Limits, Oceanview
Elementary school
Ocean Drive Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Subdivision
11C North Myrtle Beach Area--Crescent Beach
Standard status
Active
Size
5,088 SF
Utilities
Utilities
Cable Available
Amenities
storage units
Building Details
Year built
1991
Number of units
4
Listing Agency:
Sloan Realty Group
(843) 213-1346
Listed By:
Barron Calvert · License #13478
(843) 421-5197
Added: Jul 7
Changed: Oct 9
Last Checked: Oct 11 at 2:06PM
MLS# 2617109
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 5,088-square-foot quadplex, built in 1991, contains four separate residences. Three units feature two bedrooms and two bathrooms, while the private top-floor residence includes three bedrooms and two bathrooms with ocean views. The property is fully occupied and includes a carport, cable availability, and extensive storage capacity.
Six large storage units serve the property, including one assigned to each residence, an additional space for Unit 1, and a separate area for the owner. Three HVAC systems were replaced within the last 6 years, and an HVAC maintenance contract conveys to the new owner. The building is located less than two blocks from the ocean and within walking distance of North Myrtle Beach’s Ocean Drive district, with restaurants, shopping, live music, and entertainment nearby.
Six large storage units serve the property, including one assigned to each residence, an additional space for Unit 1, and a separate area for the owner. Three HVAC systems were replaced within the last 6 years, and an HVAC maintenance contract conveys to the new owner. The building is located less than two blocks from the ocean and within walking distance of North Myrtle Beach’s 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 private top‑floor 3‑bedroom, 2‑bath unit
- Private top‑floor residence 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.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
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 varied unit layouts, private storage, and a carport less than two blocks from the ocean.
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 private top‑floor 3‑bedroom, 2‑bath unit; Private top‑floor residence includes ocean views
