Available For Sale - Multifamily

16,200 SF | Show Pricing $

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LISTED BY

Samantha Lederer
One Alliance Companies, 704-765-4620
Spencer Crigler
One Alliance Companies, 704-765-4620
Paula Quickel
One Alliance Companies, 704-765-4620

AVAILABILITY DETAILS

Size
16,200 SF
Price/SF
Show Pricing $
Listing ID
SA555676
Notes
20 units for sale in Fayetteville, NC located just off of Hwy 95, less than 4 miles from downtown Fayetteville. Southlawn Estates is situated about a mile from Crown Coliseum, the Fayetteville Airport and a few national corporations including UTZ and Eaton. These major companies drive a significant about of jobs to the area and keep a strong rental demand for the surrounding communities.



The property consists of 10 duplexes each of which are 1,620 SF. All units are 2 bedroom 2 bath with an average in place rent of $825/month. 30% of the units are currently at $1,000/month. A buyer can continue the value add plan to increase the remainder of the tenants which would equate to a 21% increase in the gross income per year. Additionally, the owner is currently charging each tenant $22.50 per month for water reimbursement but each unit has it's own meter that could be read each month to pick up any deficiency.



Of the 20 units, 6 have been turned since ownership took over. The turns have typically consisted of new carpet, LVP, appliances when needed and fresh paint. Additionally, in the last year ownership has completely redone the exterior decks for a majority of the units giving the community a very functional outdoor space that gels well with the tenant mix.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Samantha Lederer, One Alliance Companies