130 Fairway Ave - Apartments FOR SALE


Southern Pines, NC 28387
$3,650,000 USD
910-603-8395
130 Fairway Ave, Southern Pines, NC for Sale
$3,650,000 USD
Apartments - FOR SALE
1/20
null | 7% Cap Rate

130 Fairway Ave
Southern Pines, NC 28387


HIGHLIGHTS

  • 38 Fully Leased Studio Residences
  • Controlling Interest in Homeowners Association

OVERVIEW

PRIME INVESTMENT OPPORTUNITY: This 4.88-acre property encompasses the common areas of a 60-unit community and includes 38 fully leased studio residences, offering controlling interest in the Hyland Hills Motor Lodge Homeowners Association. Located at 130 Fairway Ave, Southern Pines, NC, this investment benefits from a prime location just off US 1 Hwy and adjacent to the renowned Hyland Hills Golf Club. The golf club was established in 1973 and designed by Michael Gleason and Carolina Golf Hall of Fame member Tom Jackson. Originally operating as short-term rentals, the property was later converted to offer accomodations as studio residences, making it a unique investment asset. Each studio residence features a studio floor plan with outdoor patios, maximizing rental appeal. Located just minutes from downtown Southern Pines, these units offer convenient access to key local amenities, making them highly desirable to prospective renters. This unique offering presents a rare opportunity to enter a thriving market with strong demand for affordable rental properties. Don’t miss your chance to invest in 38 studio residences and unlock return potential in this vibrant and growing community. Please direct all inquiries to Listing Broker, Terry Mohr.

FOR SALE DETAILS

PRICE

$3,650,000 USD

PRICE/SF

$128 USD /SF

# OF UNITS

38

PRICE/UNIT

$96,053

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hyland Hills Studio Residences

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.88 AC

LAND SF

212,573 SF

ZONING

RM-1

APN/PARCEL ID

Parcel ID 00991783, PIN 859319704139

ASK ABOUT THIS PROPERTY

George ManleyCarolina Summit Group, LLCMore Info
910-603-8395

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

George ManleyCarolina Summit Group, LLCMore Info
910-603-8395

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.