Corner Quadruplex Near the
For Sale
$975,000
1518 Easy Street, Surf City, NC 28445
MULTI_FAMILY - Surf City, NC
Property Size3,072 SF
Lot Size0.11 Acres
Price / SF$317.38
Days on Market50
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 8, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 7, Bedroom 6
Parking
2
Parking features
Garage, Driveway
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
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
Electric (Heating), Baseboard
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1971
Floors in Building
2
Number of units
4
Flooring type
Laminate
Building materials
Block
Roof type
Metal
Listing Agency:
Coldwell Banker Sea Coast Advantage
(910) 327-2441
Listed By:
Stephanie Bolleyer · License #351352
(630) 877-5008
Added: Jun 15
Changed: Jul 27
Last Checked: Aug 3 at 5:06PM
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.
Investment Insights
Based on property information with market context.
This property is a four-unit quadplex offering four separate 2-bedroom, 1-bath floor plans. Each unit provides a compact layout measuring 768 square feet, designed for comfortable everyday living. The property is being sold as-is, with some work to be done.
The quadplex sits on a corner lot and is described as second row from the beach, placing it within walking distance of the shoreline in Surf City. Parking amenities include eight parking spaces plus a garage, a practical feature for tenants and guests. All four units are currently occupied.
For investors and owner-occupants looking for income-producing residential rental space, the current occupancy supports immediate rental utilization while planned improvements are addressed at the buyer’s pace. The unit mix and number of bedrooms may appeal to tenants seeking a straightforward 2-bedroom, 1-bath arrangement in a beach-adjacent setting. As an as-is sale, this property is best suited for buyers prepared to review condition and determine the scope of updates needed to maximize long-term performance.
The quadplex sits on a corner lot and is described as second row from the beach, placing it within walking distance of the shoreline in Surf City. Parking amenities include eight parking spaces plus a garage, a practical feature for tenants and guests. All four units are currently occupied.
For investors and owner-occupants looking for income-producing residential rental space, the current occupancy supports immediate rental utilization while planned improvements are addressed at the buyer’s pace. The unit mix and number of bedrooms may appeal to tenants seeking a straightforward 2-bedroom, 1-bath arrangement in a beach-adjacent setting. As an as-is sale, this property is best suited for buyers prepared to review condition and determine the scope of updates needed to maximize long-term performance.
Key Highlights
- Quadruplex with four 2‑bedroom, 1‑bath units
- Each unit has a 768 SF floor plan
- All four units are currently occupied for immediate rental income
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.1k | $15.00 |
| − Vacancy | −$2.2k | −$0.71 |
| EGI | $43.9k | $14.29 |
| − OpEx | −$13.2k | −$4.29 |
| NOI | $30.7k | $10.00 |
3,072 SF · lease $15.00/SF/yr · vacancy 4.75% · expense 30.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
65
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four 2-bedroom, 1-bath units on a corner lot with eight parking spaces and a garage, sold as-is.
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: Quadruplex with four 2‑bedroom, 1‑bath units; Each unit has a 768 SF floor plan; All four units are currently occupied for immediate rental income
