About This Home

This 8-bedroom, 4-bathroom multi-family at 518 Norton Street in Oak Island, NC is listed for $1,200,000 ($397 per sqft). Built in 1973, the home offers 3,024 sqft of living space on a 0.34 acres lot.

Key Features

  • Built in 1973
  • 0.34 acre lot

Property Details

1 story
4 full
1973

Amenities

ViewA/C
Listing Description

**4 UNITS! WATERWAY VIEWS! ESTABLISHED RENTAL HISTORY!** Rare opportunity to own four income-producing units on Oak Island with Intracoastal Waterway and marsh views. This unique offering consists of two separate parcels, each improved with a duplex, for a total of four rental units.

**(This listing includes 518 Norton Dr and 516 Norton Dr. 516 Norton Dr, Lot 9, PID 250CG04401.)** Each unit has an established rental history, providing immediate income potential and making this an attractive addition to an investment portfolio. Whether you're looking to continue operating all four units as rentals, create a family compound, occu

py one unit while generating income from the others, or explore future redevelopment opportunities, the possibilities are extensive with this versatile Oak Island property. Perfectly positioned to take advantage of coastal living, residents enjoy beautiful Intracoastal Waterway and marsh views from the shared courtyard and viewing deck.

Public beach access is nearby, offering the best of both worlds--easy access to the beach and the relaxing scenery of the waterway. The property has benefited from ongoing ownership improvements over the years, including new roofs on both buildings, while maintaining the character and charm that make Oak Island such a sought-after coastal destination.

Conveniently located near local restaurants, shopping, and area attractions, you'll also be just minutes from the historic waterfront town of Southport, known for its boutique shopping, waterfront dining, and coastal charm. Conveniently situated between Wilmington, NC and Myrtle Beach, SC, owners enjoy easy access to airports, entertainment, healthcare, and everything the Carolina coast has to offer.

Whether you're searching for a proven investment property, a long-term hold in a highly desirable beach market, a multi-generational retreat, or a property with future upside potential, this unique offering delivers location, flexibility, water views, and opportunity in one of North Carolina's most desirable coastal communities.

Monthly Cost Estimate

$6,418/mo

20% down · 6.5% · 30 years

Principal$868
Interest$5,200
Insurance$350

Estimates only. Actual payments may vary.

Location

518 Norton Street

Oak Island, NC 28465

Yaupon Beach

Property Details

Flooring

CarpetLvt/lvp

Construction

Wood Siding Wood Frame

Views

Water

Parking

Paved or SurfacedOff Street

Heating

Heat Pump (Heating)Electric (Heating)

Cooling

Central Air

Appliances

RefrigeratorRange

Questions & Answers

This 8-bedroom, 4-bathroom multi-family at 518 Norton Street is listed at $1,200,000 ($397/sqft). The estimated monthly payment is $6,418 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1973, 0.34 acre lot.

This property is listed by Carolina Coastal Group.

CG

Carolina Coastal Group

Agent at Northrop Realty

Listed by Northrop Realty · Broker phone: 9104773501 · View on Broker Site

MLS# 100583677· Source: Hive MLS· 127 days on PropertySimple

Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

518 Norton Street, Oak Island, NC 28465

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