Coastal Duplex with Private
For Sale
$1,849,000
400 Hillside Dr. S, North Myrtle Beach, SC 29582
MULTI-FAMILY, North Myrtle Beach, SC
Property Size7,896 SF
Price / SF$234.17
Days on Market142
Property Features for 400 Hillside Dr. S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Rectangular, East of Bus. 17, Inside City Limits, Oceanview, Second Row Other
Elementary school
Ocean Drive Elementary
Middle school
North Myrtle Beach Middle School
High school
North Myrtle Beach High School
Subdivision
11B North Myrtle Beach Area--Ocean Drive
Standard status
Active
Size
7,896 SF
Utilities
Utilities
Cable Available
Amenities
private pool
six large balconies
grilling area
game rooms
laundry rooms
Building Details
Year built
2006
Number of units
2
Listing Agency:
Realty ONE Group Dockside
(843) 492-4030
Listed By:
Liat Edri · License #6170
(843) 222-6357
Added: May 7
Changed: Sep 11
Last Checked: Sep 25 at 5:06AM
MLS# 2611944
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 2006 duplex at 400 Hillside Dr. S includes two substantial residential units, each with 8 bedrooms and 7 bathrooms, for a combined total of 16 bedrooms and 14 bathrooms. Private elevators serve both units, while the upper level contains shared living areas, open kitchens, game rooms, laundry rooms, and an additional full bathroom per unit. The property also includes six large balconies, parking spaces, a grilling area, and a private pool. New furniture and LVP flooring have been added, along with a new roof completed in 2023 and six new HVAC units.
The property is located one block from the Atlantic Ocean and four blocks from Main Street in North Myrtle Beach. Short-term and long-term rentals are allowed, and there is no HOA. Cable is available. Reservations for 2026 have been secured, with prepaid reservations credited to the buyer at closing. Proven income history is available to qualified buyers.
The property is located one block from the Atlantic Ocean and four blocks from Main Street in North Myrtle Beach. Short-term and long-term rentals are allowed, and there is no HOA. Cable is available. Reservations for 2026 have been secured, with prepaid reservations credited to the buyer at closing. Proven income history is available to qualified buyers.
Key Highlights
- Two‑unit duplex with 16 bedrooms and 14 bathrooms combined
- Each unit includes a private elevator, 8 bedrooms, and 7 bathrooms
- Private pool, six large balconies, grilling area, and parking spaces
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
$80,653
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
4.36%
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%
$1,613,060
$1.6M
Cap Rate 7%
$1,152,186
$1.2M
Cap Rate 9%
$896,144
$896.1K
Market Conditions
NOI Build-Up for 7,896 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
$121.3K $15.36/SF
− Vacancy
−$6.1K −$0.77/SF
EGI
$115.2K $14.59/SF
− OpEx
−$34.6K −$4.38/SF
NOI
$80.7K $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%
$1,613,060
Cap Rate 7%
$1,152,186
Cap Rate 9%
$896,144
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,653 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$1.04M
$911.1K – $1.21M
NOI $72,890 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $140,081 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
561
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property offers private elevators, a pool, and short- and long-term rental use.
Where is this duplex located?
The property is located at 400 Hillside Dr. S North Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: Two‑unit duplex with 16 bedrooms and 14 bathrooms combined; Each unit includes a private elevator, 8 bedrooms, and 7 bathrooms; Private pool, six large balconies, grilling area, and parking spaces
