4-Unit Beachside
For Sale
$500,000
1518 Easy Street # A - D, Surf City, NC 28445
Four two-bedroom apartments occupy a corner parcel in Surf City, with a detached garage and on-site parking.
Property Size3,072 SF
Days on Market10
Property Features for 1518 Easy Street # A - D
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Residential Income
Zoning
R-5
Occupancy
75%
Property Condition
Severity
Repairs Needed
Evidence
some work to be done
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Amenities
Laminate,Tile
No
Yes
4
Electric
2
Scuttle
8
Corner Lot,Second Row
County Water
See Remarks
0.11
7 Parking Spaces
2.0
61x89x62x89
Block
Shared Driveway,Detached,Gravel,On Site,Garage
Maintained,City Street,State Road
3072.0
Building Details
Building Size
3,072 SF
Year Built
1971
Stories
2
Listing Agency:
Coldwell Banker Sea Coast Advantage
Listed By:
Stephanie Bolleyer · License #351352
(630) 877-5008
Source:
Hurtrealtyllc
Added: Oct 21
Changed: Oct 30
Last Checked: Oct 28 at 4:41PM
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 Coldwell Banker Sea Coast Advantage
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Investment Insights
Based on property information with market context.
This 1971 quadplex contains four apartments, each with a two-bedroom, one-bath layout and 768 square feet. The building totals 3,072 square feet and sits on a 0.11-acre corner lot. A detached garage and on-site parking serve the property. The sale is as-is, and the property requires work. Three of the four units are currently occupied.
The property is in Surf City, second row from the beach, on a city street. It is zoned R-5.
The property is in Surf City, second row from the beach, on a city street. It is zoned R-5.
Key Highlights
- Four apartments, each with 2 bedrooms, 1 bathroom and 768 square feet
- 3,072‑square‑foot building on a 0.11‑acre corner lot
- Second row from the beach in Surf City
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,724
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,480
$614.5K
Cap Rate 7%
$438,914
$438.9K
Cap Rate 9%
$341,378
$341.4K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$46.1K $15.00/SF
− Vacancy
−$2.2K −$0.71/SF
EGI
$43.9K $14.29/SF
− OpEx
−$13.2K −$4.29/SF
NOI
$30.7K $10.00/SF
Area
Onslow County, NC
Vacancy
4.75%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,480
Cap Rate 7%
$438,914
Cap Rate 9%
$341,378
Alternative Uses
Best Use
Multifamily LT 5
$438.9K
$384.1K – $512.1K
NOI $30,724 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$399.0K
$349.1K – $465.5K
NOI $27,929 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$667.3K
$583.9K – $778.6K
NOI $46,714 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 28445, NC
10,243
Population
8,832
Households
1.2
Avg Household Size
38
Median Age
42%
College-Educated
92%
High-School Grad
103.7 sq mi
ZIP Area
99
Density / Sq Mi
$89,250
Median Household Income
$56,844
Median Earnings
$1,318
Median Rent
$332,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments occupy a corner parcel in Surf City, with a detached garage and on-site parking.
Where is this quadplex located?
The property is located at 1518 Easy Street # A - D Surf City, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms, 1 bathroom and 768 square feet; 3,072‑square‑foot building on a 0.11‑acre corner lot; Second row from the beach in Surf City
