Looking for a solid investment that's already generating income with room for growth? This 20-unit apartment complex in Jacksonville NC offers the perfect opportunity for investors of all experience levels. Located in a fast-growing area, just a short drive from the beaches of Topsail & the Crystal Coast, this property… Read More combines steady cash flow with future potential. The complex is completely turnkey, allowing you to start earning from day 1. The property's current rental income is poised for increases, with rents being raised to $1,100 - $1,250 per unit. 7 units are now leased at the new rates. Once all leases are adjusted, the property will generate approx. $280,000 per year in income. At this price, investors can expect a 9-10% CAP rate with minimal effort. The property has been well-maintained with several major updates already completed, including many new HVAC systems & a newer roof (4 years old). The units are in excellent shape with spacious layouts, full kitchens, appliances & in-unit washers and dryers. For those new to real estate investing, this property is an ideal introduction, with a professional management team already in place. However, if you prefer to manage it yourself, you can save in management fees, which will increase your return on investment. Plus, there are opportunities to increase rents further as Jacksonville's market continues to grow, providing additional upside for the future. Located in a clean & convenient neighborhood, the complex is close to schools, shops, restaurants and public services--making it an attractive place for tenants. As Jacksonville's economy and housing market continues to expand, this property offers strong potential for long-term appreciation, making it an excellent addition to any portfolio. Whether you're an experienced investor or just getting started, this property offers a great balance of stability & future growth. Don't miss out on this opportunity to invest in one of NC's fastest-growing markets! Read Less
Courtesy of Pinpoint Properties, Real Broker LLC
Listing Snapshot
Days Online
57
Last Updated
Property Type
Multi-Family
Square Ft.
13,040
Lot Size
0.83 Acres
Year Built
1985
MLS Number
100493422
30 Days Snapshot Of 28546
$269k
+7%
(avg) sold price
78
+5%
homes sold
73
-14%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
36,155 sqft lot, Lot Dimensions: Irregular, 0.83 acres
Property
20 units, 13,040 heated sqft, 6,560 total available sqft, Built in 1985, List Price/SqFt: $257, Zoning: Rmf-Hd
Taxes
City Tax Rate: 5933, Property Taxes: $12,313, Tax Year: 2023
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of . All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Real Broker LLC shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data.
Confirm your time
Fill in your details and we will contact you to confirm a time.