4-Unit Brick
For Sale
$824,000
706 Mitchell Dr., Myrtle Beach, SC 29577
Separate electric meters serve each residence, with the property also described as FHA-financeable.
Property Size2,650 SF
Price / SF$310.94
Days on Market278
Property Features for 706 Mitchell Dr.
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Multi Family Home
Zoning
muh
Lease Term
12 Months
Units
Multifamily Units
4
Individually Metered Utilities
electricity
Building Details
Building Size
2,650 SF
Year Built
1998
Units
4
Construction
brick
Listing Agency:
Own Myrtle Real Estate
Listed By:
Ester Esti Simantov
(516) 233-0601
Source:
Gabrielfinancial
Added: Jan 19
Changed: Oct 23
Last Checked: Oct 23 at 4:28PM
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 Own Myrtle Real Estate
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Investment Insights
Based on property information with market context.
This 2,650-square-foot brick quadplex contains four units and was built in 1998. Each residence has its own electric meter, and the property is described as qualifying for FHA financing. Zoning is identified as MUH.
The property is in Myrtle Beach, with the beach, shopping, and attractions described as minutes away.
The property is in Myrtle Beach, with the beach, shopping, and attractions described as minutes away.
Key Highlights
- Four‑unit brick quadplex
- 2,650 square feet; built in 1998
- Each unit has a separate electric meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,068
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$541,360
$541.4K
Cap Rate 7%
$386,686
$386.7K
Cap Rate 9%
$300,756
$300.8K
Market Conditions
NOI Build-Up for 2,650 SF
Gross rent
$40.7K $15.36/SF
− Vacancy
−$2.0K −$0.77/SF
EGI
$38.7K $14.59/SF
− OpEx
−$11.6K −$4.38/SF
NOI
$27.1K $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%
$541,360
Cap Rate 7%
$386,686
Cap Rate 9%
$300,756
Alternative Uses
Best Use
Multifamily LT 5
$386.7K
$338.4K – $451.1K
NOI $27,068 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$349.5K
$305.8K – $407.7K
NOI $24,463 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$671.6K
$587.7K – $783.6K
NOI $47,013 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
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Business Placement
Demographics for 29577, SC
34,109
Population
22,630
Households
1.5
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
22.8 sq mi
ZIP Area
1,496
Density / Sq Mi
$48,561
Median Household Income
$33,591
Median Earnings
$1,130
Median Rent
$273,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Separate electric meters serve each residence, with the property also described as FHA-financeable.
Where is this quadplex located?
The property is located at 706 Mitchell Dr. Myrtle Beach, SC.
What is the asking price?
The asking price for this property is $824,000.
What are key features of this property?
This property features: Four‑unit brick quadplex; 2,650 square feet; built in 1998; Each unit has a separate electric meter
