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2109 Elvira St
Fayetteville, NC 28303
Carolina Pines Apartments · Multifamily Property For Sale
·
71 Units
Investment Highlights
- A stable investment as Carolina Pines offers both immediate cash flow and long-term growth potential in a resilient market.
- Strong rental growth; rents have increased by 60%, with an additional potential increase of $70 per unit, leading to a $60,000 annual revenue uplift.
- Tap into upside potential via the strategic location and recent improvements, offering substantial value-add opportunities for new ownership.
- Centrally located in Fayetteville, NC, near retail centers, dining, and major employers like Fort Liberty and Cape Fear Valley Health.
- There is strong rental demand driven by Fayetteville's military, healthcare, and education sectors, ensuring continued need for housing.
- Recent Upgrades include $1,000,000 in capital improvements such as modernized units, enhanced common areas, and exterior upgrades.
Property Facts
| No. Units | 71 | Building Size | 120,300 SF |
| Property Type | Multifamily | Average Occupancy | 89% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1963/2023 |
| Building Class | C | Parking Ratio | 1.27/1,000 SF |
| Lot Size | 7.64 AC | Cross Streets | Harlee St |
| Zoning | R6 - Residential | ||
| No. Units | 71 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.64 AC |
| Building Size | 120,300 SF |
| Average Occupancy | 89% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2023 |
| Parking Ratio | 1.27/1,000 SF |
| Cross Streets | Harlee St |
| Zoning | R6 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Heating
- Kitchen
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- Laundry Facilities
- Playground
- Property Manager on Site
- Pet Play Area
- Wi-Fi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1.5 | 1 | - | 1,000 |
| 2+1 | 18 | - | 860 - 900 |
| 2+2 | 52 | - | 1,020 - 1,150 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,407,108 | |
| Land Assessment | $1,146,000 | Total Assessment | $4,553,108 |
Property Taxes
Parcel Numbers
Land Assessment
$1,146,000
Improvements Assessment
$3,407,108
Total Assessment
$4,553,108
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