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Summertime Apartments 6535 Summertime Apartments, 6535 Jeffrey Dr 144 Unit Apartment Building $16,500,000 ($114,583/Unit) Fayetteville, NC 28314
EXECUTIVE SUMMARY
144 units in 18ea 2-story buildings (80ea 2-bd, 1.5ba & 64ea 1-bd, 1 ba). Swimming pool and pool house. Equidistant between Fort Bragg and primary shopping district. 4 minutes from I-295 in northwest city limits. Gross rents in 2024 of $1.24M. List price equates approximately to $120,000/2bd and $109,000/1bd.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $16,500,000 | Building Class | C |
| Price Per Unit | $114,583 | Lot Size | 2.24 AC |
| Sale Type | Investment | Building Size | 151,204 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 95% |
| No. Units | 144 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 2.17/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R5A - High-density Residential | ||
| Price | $16,500,000 |
| Price Per Unit | $114,583 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 144 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.24 AC |
| Building Size | 151,204 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 2.17/1,000 SF |
| Zoning | R5A - High-density Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Gated
- Smoke Free
- Maintenance on site
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 64 | $890.00 | 700 |
| 2+1.5 | 80 | $1,050 | 1,100 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $6,735,449 | |
| Land Assessment | $720,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $6,015,449 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$720,000
Improvements Assessment
$6,015,449
Total Assessment
$6,735,449
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Summertime Apartments | 6535 Summertime Apartments, 6535 Jeffrey Dr
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