1301 King Ave | Spring Lake, NC 28390
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- LoopNet Team
1301 King Ave
Spring Lake, NC 28390
Pine Grove Apartments · Multifamily Property For Sale
·
40 Units
INVESTMENT HIGHLIGHTS
- 40-unit multifamily apartments in Spring Lake, NC within the Fayetteville MSA that is ±52.5% occupied with significant upside opportunities.
- Below market rents with the potential to further increase NOI through, continued modernizations, mark-to-market rates and implementation of RUBS.
- 1 and 2-Story buildings with dynamic unit mix well-situated near several economic drivers, amenities, and convenient access to major area employers.
- Strategic positioning near military economic generators and Fort Bragg and Pope Air Force Base, the largest military installation base in the world.
PROPERTY FACTS
| No. Units | 40 | Building Size | 30,400 SF |
| Property Type | Multifamily | Average Occupancy | 52% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1968 |
| Building Class | C | Parking Ratio | 2.63/1,000 SF |
| Lot Size | 4.01 AC | ||
| Zoning | R6A | ||
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 4.01 AC |
| Building Size | 30,400 SF |
| Average Occupancy | 52% |
| No. Stories | 1 |
| Year Built | 1968 |
| Parking Ratio | 2.63/1,000 SF |
| Zoning | R6A |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Family Room
- Lawn
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+2 | 34 | - | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,367,597 | |
| Land Assessment | $206,800 | Total Assessment | $1,574,397 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$206,800
Improvements Assessment
$1,367,597
Total Assessment
$1,574,397
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