Four-Unit Multifamily with Metal
For Sale
$679,000
1710 Holly Dr., North Myrtle Beach, SC 29582
MULTI-FAMILY, North Myrtle Beach, SC
Property Size2,934 SF
Lot Size0.21 Acres
Price / SF$231.42
Days on Market200
Property Features for 1710 Holly Dr.
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Crescent Beach
Lot features
Rectangular, East of Bus. 17, Inside City Limits
Elementary school
Ocean Bay Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Standard status
Active
Size
2,934 SF
Lot size
0.21 Acres
Utilities
Utilities
Cable Available
Building Details
Year built
1950
Number of units
4
Listing Agency:
RE/MAX Southern Shores NMB · RE/MAX International
(843) 249-5555
Listed By:
Betty Meekins · License #107757
(301) 401-6946
Added: Feb 10
Changed: Aug 19
Last Checked: Aug 29 at 1:06PM
MLS# 2603548
Copyright © 2026 Coastal Carolina Association of REALTORS®. 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 four-unit multifamily property offers separate apartment layouts, with each unit featuring its own kitchen and living and dining areas. The units include outside space via a porch, deck, or patio. Washer and dryer hookups are located on the ground level in a separate room, and the property provides space for off-street parking. The property is described as needing some TLC.
The home sits on a lot listed as 0.21 acres with no HOA. Public remarks note beach access across the street and that local shops and restaurants are minutes away.
Unit mix is provided as one 3-bedroom/1-bath unit and one 2-bedroom/1-bath unit upstairs, plus two additional 2-bedroom/1-bath units on the ground level. The seller notes a metal roof was installed in 2024.
The home sits on a lot listed as 0.21 acres with no HOA. Public remarks note beach access across the street and that local shops and restaurants are minutes away.
Unit mix is provided as one 3-bedroom/1-bath unit and one 2-bedroom/1-bath unit upstairs, plus two additional 2-bedroom/1-bath units on the ground level. The seller notes a metal roof was installed in 2024.
Key Highlights
- 1950‑built 4‑unit multifamily home on a 0.21‑acre lot with no HOA
- Beach access is across the street, within a short walk to the beach
- Unit mix: one 3BR/1BA plus three 2BR/1BA units; each has its own kitchen, living, and dining areas
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 apartment units each include kitchens and living/dining areas, with metal roofing installed in 2024.
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: 1950‑built 4‑unit multifamily home on a 0.21‑acre lot with no HOA; Beach access is across the street, within a short walk to the beach; Unit mix: one 3BR/1BA plus three 2BR/1BA units; each has its own kitchen, living, and dining areas
