Four-Unit Multifamily
For Sale
$679,000
1710 Holly Dr., North Myrtle Beach, SC 29582
Four residences offer individual kitchens, living and dining areas, plus private outdoor space and a shared laundry room with hookups.
Property Size2,934 SF
Lot Size0.21 Acres
Price / SF$231.42
Days on Market360
Property Features for 1710 Holly Dr.
General Information
Standard status
Active
Size
2,934 SF
Lot size
0.21 Acres
Property subtype
Fourplex
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Units
Unit Mix
1 x 3BR/1BA, 3 x 2BR/1BA
Multifamily Units
4
Amenities
porch/deck/patio
washer/dryer hookups
Window/Wall Unit
3
Laundry Facilities
MF
Rectangular
Rectangular.
Building Details
Year Built
1950
Listing Agency:
RE/MAX Southern Shores NMB
(843) 249-5555
Listed By:
Betty Meekins · License #107757
(301) 401-6946
Source:
Xome
Added: Sep 5, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:35AM
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 RE/MAX Southern Shores NMB
Investment Insights
Based on property information with market context.
Built in 1950, this 2,934-square-foot quadplex contains four separate apartments with varied layouts. The unit mix includes one three-bedroom, one-bath residence and three two-bedroom, one-bath residences. Each apartment includes its own kitchen, living area, and dining area, while porches, decks, or patios provide individual exterior space. A separate ground-level room includes washer and dryer hookups, and the property has space for off-street parking. A metal roof was installed in 2024.
The property occupies a 0.21-acre lot at 1710 Holly Dr. in North Myrtle Beach, South Carolina. Beach access is across the street, with shops and restaurants described as minutes away. The property has no HOA and requires TLC, presenting a renovation-oriented multifamily asset in a coastal setting.
The property occupies a 0.21-acre lot at 1710 Holly Dr. in North Myrtle Beach, South Carolina. Beach access is across the street, with shops and restaurants described as minutes away. The property has no HOA and requires TLC, presenting a renovation-oriented multifamily asset in a coastal setting.
Key Highlights
- 2,934‑square‑foot quadplex with four apartments
- Unit mix includes one 3‑bedroom and three 2‑bedroom residences
- 0.21‑acre lot at 1710 Holly Dr., North Myrtle Beach, SC 29582
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,969
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$599,380
$599.4K
Cap Rate 7%
$428,129
$428.1K
Cap Rate 9%
$332,989
$333.0K
Market Conditions
NOI Build-Up for 2,934 SF
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.
Gross rent
$45.1K $15.36/SF
− Vacancy
−$2.3K −$0.77/SF
EGI
$42.8K $14.59/SF
− OpEx
−$12.8K −$4.38/SF
NOI
$30.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$599,380
Cap Rate 7%
$428,129
Cap Rate 9%
$332,989
Alternative Uses
Best Use
Multifamily LT 5
$428.1K
$374.6K – $499.5K
NOI $29,969 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$386.9K
$338.6K – $451.4K
NOI $27,085 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$743.6K
$650.7K – $867.5K
NOI $52,052 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
504
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
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 residences offer individual kitchens, living and dining areas, plus private outdoor space and a shared laundry room with hookups.
Where is this quadplex located?
The property is located at 1710 Holly Dr. North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 2,934‑square‑foot quadplex with four apartments; Unit mix includes one 3‑bedroom and three 2‑bedroom residences; 0.21‑acre lot at 1710 Holly Dr., North Myrtle Beach, SC 29582
