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Oliver Place 817 Ridge Rd 32 Unit Apartment Building $2,900,000 ($90,625/Unit) 6.01% Cap Rate Fayetteville, NC 28311
Executive Summary
Do not miss this outstanding opportunity to own The Hazelbrooke and Oliver Place Apartments featuring 32 units across 8 quadplexes all with 2 bedrooms. 8 units offer nice sized living area, kitchen/dining combo, 2 beds and 1.5 baths, with balcony or patio. The remaining 24 units feature ample living area and kitchen/dining combo on main floor with 2 beds and 1 bath on secondary floor. The exterior of the buildings features attractive brick and updated paint on doors, shudders, and wrought iron. Roofs approximately 8 years old (replaced by previous owner). Storage unit with 8 rentable units for extra income potential. Ample parking space for all 32 units. Significant repairs and upgrades made to the septic pump stations made in 2025. Interior updates for most units include new flooring featuring mostly LVP, fresh paint, updated bathrooms and kitchens. This complex is conveniently situated in North Fayetteville providing easy access to retail stores, restaurants, and Fort Bragg. Proximity to 295 ensures seamless commutes throughout Fayetteville. Call to schedule your initial walkthrough today!
To request Offering Memorandum and any further information contact listing agent at 910-426-7492 or 910-261-3559.
To request Offering Memorandum and any further information contact listing agent at 910-426-7492 or 910-261-3559.
Property Facts
| Price | $2,900,000 | Apartment Style | Garden |
| Price Per Unit | $90,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 4.61 AC |
| Cap Rate | 6.01% | Building Size | 37,536 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 97% |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 2.5/1,000 SF |
| Zoning | R6 | ||
| Price | $2,900,000 |
| Price Per Unit | $90,625 |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.61 AC |
| Building Size | 37,536 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 2.5/1,000 SF |
| Zoning | R6 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 24 | - | 918 |
| 2+1.5 | 8 | - | 918 |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 0429-67-4191 | Improvements Assessment | $1,226,677 |
| Land Assessment | $92,820 | Total Assessment | $1,319,497 |
Property Taxes
Parcel Number
0429-67-4191
Land Assessment
$92,820
Improvements Assessment
$1,226,677
Total Assessment
$1,319,497
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Alotta Properties
Oliver Place | 817 Ridge Rd
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