Separately Metered
For Sale
$599,000
624 Surfside Dr., Surfside Beach, SC 29575
Each residence has a three-bedroom layout with two-and-a-half baths and separate utility metering.
Property Size3,126 SF
Price / SF$191.62
Days on Market18
Property Features for 624 Surfside Dr.
General Information
Standard status
Active
Size
3,126 SF
Property subtype
Multi Family Home
Zoning
R2
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Building Details
Building Size
3,126 SF
Year Built
1991
Buildings
1
Units
2
Listing Agency:
Gabriel Financial Real Estate
(843) 663-5335
Listed By:
Timothy H. Gabriel · License #10663
(843) 222-5335
Source:
Gabrielfinancial
Added: Oct 7
Changed: Oct 23
Last Checked: Oct 23 at 5:56PM
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 Gabriel Financial Real Estate
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Investment Insights
Based on property information with market context.
Built in 1991, this 3,126-square-foot duplex in Surfside Beach contains two residences, each configured with three bedrooms and two-and-a-half bathrooms. The units are individually tax mapped and have separate meters, providing distinct property and utility arrangements. The property is zoned R2.
The building is within walking distance of the ocean and is located at 624 Surfside Dr.
The building is within walking distance of the ocean and is located at 624 Surfside Dr.
Key Highlights
- Two residences, each with 3 bedrooms and 2.5 baths
- 3,126 square feet
- Each unit is separately tax mapped and metered
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,930
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,600
$638.6K
Cap Rate 7%
$456,143
$456.1K
Cap Rate 9%
$354,778
$354.8K
Market Conditions
NOI Build-Up for 3,126 SF
Gross rent
$48.0K $15.36/SF
− Vacancy
−$2.4K −$0.77/SF
EGI
$45.6K $14.59/SF
− OpEx
−$13.7K −$4.38/SF
NOI
$31.9K $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 Rate 5%
$638,600
Cap Rate 7%
$456,143
Cap Rate 9%
$354,778
Alternative Uses
Best Use
Multifamily LT 5
$456.1K
$399.1K – $532.2K
NOI $31,930 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$412.2K
$360.7K – $481.0K
NOI $28,857 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$792.3K
$693.2K – $924.3K
NOI $55,458 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
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Business Placement
Demographics for 29575, SC
18,135
Population
16,761
Households
1.1
Avg Household Size
57
Median Age
33%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$72,029
Median Household Income
$38,182
Median Earnings
$1,234
Median Rent
$278,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a three-bedroom layout with two-and-a-half baths and separate utility metering.
Where is this duplex located?
The property is located at 624 Surfside Dr. Surfside Beach, SC.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2.5 baths; 3,126 square feet; Each unit is separately tax mapped and metered
