Four-Unit
1518 Easy Street A - D, Surf City, NC 28445
For Sale
$975,000
Three residences are occupied, and the corner property includes a garage.
Property Size3,072 SF
Price / SF$317.38
Days on Market148
Property Features for 1518 Easy Street A - D
General Information
Standard status
Size
Property subtype
Occupancy
Property Condition
Severity
Evidence
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Coastal Realty Associates LLC
Listed By:
Stephanie Bolleyer · License NC #351352
(630) 877-5008
Source:
Spotrealestate
Added: Jun 15
Changed: Nov 2
Last Checked: Nov 8 at 9:57AM
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 Coastal Realty Associates LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 1971 residential building contains four apartments, each with two bedrooms, one bathroom and 768 square feet. The property is being sold as-is, with work remaining. Three of the four units are occupied, and the site includes eight parking spaces and a garage.
Located in Surf City, North Carolina, the property occupies a corner lot in the second row from the beach.
Located in Surf City, North Carolina, the property occupies a corner lot in the second row from the beach.
Key Highlights
- Four apartments, each with 2 bedrooms, 1 bathroom and 768 square feet
- 3 of the 4 units are occupied
- 8 parking spaces and a garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,724
Cap Rate
3.15%
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 3.15%
Second Best
Apartment 5plus
$399.0K
$349.1K – $465.5K
NOI $27,929 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$667.3K
$583.9K – $778.6K
NOI $46,714 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property 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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Three residences are occupied, and the corner property includes a garage.
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 $975,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms, 1 bathroom and 768 square feet; 3 of the 4 units are occupied; 8 parking spaces and a garage
