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3802-3818 Chase Rd
Wilson, NC 27896
Chase Park Apartments · Multifamily Property For Sale
·
71 Units
PROPERTY FACTS
| No. Units | 71 | Lot Size | 0.74 AC |
| Property Type | Multifamily | Building Size | 91,235 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | B | Year Built | 1992 |
| Zoning | RA6 | ||
| No. Units | 71 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.74 AC |
| Building Size | 91,235 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1992 |
| Zoning | RA6 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Oven
- Range
ABOUT 3802-3818 CHASE RD , WILSON, NC 27896
Waterstone Multifamily Group is pleased to present the Chase Park apartments (71-units), located in Wilson NC. Built in 1992, this property is located 4 miles of the I-95 corridor, within 10 minutes of the nearest schools and the closest college. Chase Park is also located within walking distance to the airport facility and one of the largest employers in the county: Kidde Aerospace & Defense. BACKGROUND & PROPERTY FACTS: Chase Park has a waiting list of tenants which indicates an opportunity to raise rents. Chase Park 2BR units are currently renting for $560/month. The greater Wilson market average for a 2BR unit is $632/month Similarly: at 1000 square feet per unit (one of the larger floorplans in the market), Chase Park currently rents at $0.56/sqft, versus a market average of $0.63/sqft No on-site management. All issues handled by the management company' s local office. OPPORTUNITIES: 100% Occupancy with below market rents. Multiple opportunities to drive NOI (washer/dryer rental, kitchen updates - backsplashes, remove carpet/add vinyl plank, new paint scheme). CONCERNS: The roofs have received periodic treatment as needed, but in the short-to-medium term outlook, will likely require attention. The interiors and rear deck patios have been repaired as needed, but are beginning to show their age. This can be addressed as each unit turns over and a new tenant moves in, minimizing cash flow interruptions and allowing Chase Park to remain nearly full as upgrades are made over time.
PROPERTY TAXES
| Parcel Number | 3703-94-5305.000 | Improvements Assessment | $0 |
| Land Assessment | $40,000 | Total Assessment | $40,000 |
PROPERTY TAXES
