951 Oakland Rd
Forest City, NC 28043
South Point Apartments · Multifamily Property For Sale · 30 Units

The South Point Apartments are a 30-unit apartment community consisting of 18 one bedroom / one-bathroom units and 12 studio units. This five-building complex was constructed in 1979 and is northwest of Interstate 26. The property's proximity to the interstate allows for easy access to both Charlotte, North Carolina and Greenville, South Carolina. The property spans 3.28 acres, and boasts brick exteriors, giving curb appeal to this community. Off-street parking offers residents convenient access to units. The median rent is $418 monthly, and the market rent in the area is $599. New ownership has the opportunity to increase rents by 15 percent. ? ? The South Point Apartments are located at the foot of the Blue Ridge Mountains, just 45 minutes from Chimney Rock State Park, and 40 minutes from South Mountain State Park. Asheville, North Carolina, one the nations busiest places for tourism is just one hour away from the property. The Tryon International Equestrian Center, which hosted the 2018 FEI World Equestrian Games, is located just 11 miles from the subject property. This event hosted an estimated 400,000 spectators from around the world. This park is also open 364 days a year and will continue to boost the economy in Forest City. Forest City is located in Rutherford County which projects 23% job growth in the next ten years. The three main economic drivers in Rutherford County are Manufacturing (20%), Health Care (15%), and Retail Trade (13.8%). Forest City’s stable economy, location near some of North Carolina's most-visited State Parks, and an investors immediate opportunity to raise rents, makes this a desirable property for investors to consider.