239 13th Avenue Pl NW - Apartments FOR SALE


Hickory, NC 28601
$3,380,000 USD
704-831-4633
239 13th Avenue Pl NW, Hickory, NC for Sale
$3,380,000 USD
Apartments - FOR SALE
1/4
null | 6.08% Cap Rate

239 13th Avenue Pl NW
Hickory, NC 28601


HIGHLIGHTS

  • Premier Suburban Location with Easy Accessibility to the Region’s Top Economic Generators, Retail, Restaurants, and Entertainment
  • Proven Value Add and Organic Rent Growth in Place With Opportunity to Continue Interior Upgrade Program
  • Assumable Debt: Ability to Assume Attractive, Low-Interest Rate Debt or Secure New Financing with Minimal Prepayment Penalties
  • Rapid Employment Growth & Affordability in the Hickory Market has Made it an Attractive Market for Investors

OVERVIEW

Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Hawksridge Apartments located at 239 13th Ave Pl NW, in Hickory, NC. Comprised of 26 units, built in 1982, the community has an attractive unit mix with a variety of two-bedroom floorplans in a premier location within the Hickory submarket. The unit mix includes Fifteen, two-bedroom and one-and-one-half-bathroom floorplans, Nine, two-bedroom and one-and-one-half-bathroom floorplans with a basement and garage, and Two, two-bedroom and one-bathroom units. This community offers an investor the opportunity to continue to capitalize on proven in place value-add renovations to the interior of the units in the rapidly growing market. The Hickory multifamily market has experienced significant growth over the last several years, fueled by its proximity to Charlotte and residents seeking an economical alternative to higher priced rental rates seen within surrounding markets. This growth is projected to continue as Hickory’s economy has been influenced by similar patterns, rapidly transforming from a smaller, separate economy to a popular Charlotte submarket alternative for manufacturing, communication, data, and logistics. As the Hickory market continues to expand and gain national investor prominence, the Hawksridge Apartments are perfectly positioned to leverage this growth opportunity moving forward.

FOR SALE DETAILS

PRICE

$3,380,000 USD

PRICE/SF

$95 USD /SF

# OF UNITS

26

PRICE/UNIT

$130,000

CAP RATE

6.08%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hawksridge Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

7

LAND DETAILS

LAND ACRES

2.54 AC

LAND SF

110,642 SF

ZONING

R3

APN/PARCEL ID

3703104693020000

ASK ABOUT THIS PROPERTY

Jeff ShugartsMarcus & MillichapMore Info
704-831-4633

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

Jeff ShugartsMarcus & MillichapMore Info
704-831-4633

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