1301 King Ave | Spring Lake, NC 28390
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1301 King Ave
Spring Lake, NC 28390
Pine Grove Apartments · Multifamily Property For Sale
·
40 Units
Property Facts
| No. Units | 40 | Building Size | 30,400 SF |
| Property Type | Multifamily | Average Occupancy | 52% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built/Renovated | 1968/2018 |
| 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 | Garden |
| Building Class | C |
| Lot Size | 4.01 AC |
| Building Size | 30,400 SF |
| Average Occupancy | 52% |
| No. Stories | 1 |
| Year Built/Renovated | 1968/2018 |
| 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
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
About 1301 KING AVE , SPRING LAKE, NC 28390
This property has gone through a substantial rehab under the direction of the current owner. However, there have been constant setbacks with 6 of the units having caught fire over the past six months. Rehab has been completed on 2 of the 6 burned units and are move-in-ready. Work is in progress on the remaining 4 units. There’s Sixteen (16) remaining units of the 40 units that will need some minor and or major rehab with an estimated cost of $250,000.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $500.00 | - |
| 2+2 | 5 | $587.50 | - |
| 2+1 | 28 | $562.50 | - |
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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