Rim Creek Apartments 4811 Cellner Dr 56 Unit Apartment Building For Sale Fayetteville, NC 28314

Rim Creek Apartments is a 56-unit multifamily community located at 4811 Cellner Drive in
Fayetteville, North Carolina, within a well-established residential corridor in close proximity to Fort Liberty. Built in 2010, the property consists of 44 two-bedroom / two-bath units and 12 three-bedroom / two-bath units, offering a diverse unit mix that appeals to both families and roommate households. The asset is currently approximately 91% leased and 98% preleased, reflecting strong leasing momentum.
Rim Creek presents investors with the opportunity to acquire a newer-vintage asset where current ownership has already completed significant operational stabilization following its recent acquisition. Economic vacancy has improved meaningfully, declining from approximately 18% on a trailing 12-month basis to 14% on a trailing three-month annualized basis, demonstrating clear positive momentum.
Current average rents are approximately $1,197 for two-bedroom units and $1,383 for three-bedroom units, positioning the property competitively within the submarket. Remaining economic vacancy is primarily driven by elevated concession usage rather than weak collections, creating a clear path for future NOI growth as leasing incentives are reduced and revenue normalizes.
Rim Creek Apartments is being offered individually or as part of a three-property Fayetteville portfolio alongside Karen Lake and Village Chase, providing investors flexibility to acquire either a standalone asset or scaled portfolio presence within the Fayetteville market.
SITE TOURS: April 28th & April 29th
CALL FOR OFFERS: May 13th