Four-Unit
For Sale
$975,000
1518 Easy Street, Surf City, NC 28445
Residential Income, Surf City, NC
Property Size3,072 SF
Lot Size0.11 Acres
Price / SF$317.38
Days on Market140
Property Features for 1518 Easy Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R-5
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 8, Bathroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 7, Bathroom 2, Bedroom 1
Parking
2
Parking features
Driveway, Garage
Patio and Porch features
Deck, Porch
Appliances
Electric Oven, Refrigerator
Subdivision
Old Settlers Beach
Lot features
Corner Lot, Second Row
View
Ocean
Elementary school
Surf City
Middle school
Surf City
High school
Topsail
Directions
From the Surf City Bridge, take the second exit onto New River Drive. Continue to Neptune Place and turn right. Take the next right onto Easy Street. The property is located on the left at the corner of Easy Street and Neptune Place.
Standard status
Active
APN
4245-64-2850-0000
Size
3,072 SF
Lot size
0.11 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 9 PB 10/56 Old Settlers Beach Blk 3R
Tax Annual Amount
2993
Legal Description
LT 9 PB 10/56 Old Settlers Beach Blk 3R
Utilities
Heating system
Baseboard, Electric (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1971
Floors in Building
2
Number of units
4
Flooring type
Tile, Laminate
Building materials
Block
Roof type
Metal
Buildings
1
Listing Agency:
Coastal Realty Associates LLC
(910) 270-4444
Listed By:
Stephanie Bolleyer · License #351352
(630) 877-5008
Added: Jun 15
Changed: Oct 31
Last Checked: Nov 1 at 8:06PM
MLS# 100581885
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1971 quadplex contains four units, each with two bedrooms, one bathroom, and 768 square feet. The building totals 3,072 square feet and sits on a 0.113-acre corner parcel. Three units are occupied. The property is being sold as-is, with work to be completed.
The property is located in Surf City, two rows from the beach. Parking includes eight spaces, a garage, and a driveway. R-5 zoning is reported for the site.
The property is located in Surf City, two rows from the beach. Parking includes eight spaces, a garage, and a driveway. R-5 zoning is reported for the site.
Key Highlights
- Four units, each with 2 bedrooms, 1 bathroom, and 768 square feet
- Three of the four units are occupied
- Eight parking spaces plus 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
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
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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 residential units have matching two-bedroom layouts, and three are currently occupied.
Where is this quadplex located?
The property is located at 1518 Easy Street 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 units, each with 2 bedrooms, 1 bathroom, and 768 square feet; Three of the four units are occupied; Eight parking spaces plus a garage
