Brick 4-Unit
For Sale
$824,000
706 Mitchell Dr., Myrtle Beach, SC 29577
MULTI-FAMILY, Myrtle Beach, SC
Property Size2,650 SF
Price / SF$310.94
Days on Market268
Property Features for 706 Mitchell Dr.
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
East of Bus. 17
Elementary school
Myrtle Beach Elementary School
Middle school
Myrtle Beach Middle School
High school
Myrtle Beach High School
Subdivision
16G Myrtle Beach Area--Southern Limit to 10TH Ave N
Standard status
Active
Size
2,650 SF
Building Details
Year built
1998
Number of units
4
Listing Agency:
Own Myrtle Real Estate
(516) 233-0601
Listed By:
Ester Esti Simantov
(843) 457-9780
Added: Jan 19
Changed: Oct 8
Last Checked: Oct 14 at 6:06PM
MLS# 2601686
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.
Built in 1998, this 2,650-square-foot quadplex contains four residential units within a brick building. Separate electric meters serve each unit, providing distinct utility measurement across the property. The configuration supports multifamily rental use, with the asset positioned in Myrtle Beach near the beach, shopping, and local attractions. The property is located at 706 Mitchell Dr., Myrtle Beach, SC 29577, and the source information indicates eligibility for FHA financing.
Key Highlights
- Four‑unit brick quadplex built in 1998
- 2,650 square feet of property size
- Each unit has its own 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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - 1998-built brick multifamily property with individually metered units and a four-unit configuration.
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 built in 1998; 2,650 square feet of property size; Each unit has its own electric meter
