601 Main St - Apartments FOR SALE


Lillington, NC 27546
$6,000,000 USD
910-892-0463
601 Main St, Lillington, NC for Sale
$6,000,000 USD
Apartments - FOR SALE
1/21
null | Request Cap Rate

601 Main St
Lillington, NC 27546


HIGHLIGHTS

  • Walking Distance to Campbell University
  • Very Quiet
  • Good mix of student housing and public housing

OVERVIEW

Prime Location! Walking Distance to Campbell University- 10 minutes to growing Lillington! Units have remained 100% occupied year after year with rent increases every year. Unit occupants are a good mix of students, faculty, and general public. Units are a mix of 1 bed 1 bath (2), 2 bed 2.5 bath (33), and 3 bed 3 bath (1) with Vinyl and Brick exterior on slab, all units ground level entrance. Plenty of parking for occupants and visitors, each individually metered, all electric units. Included with each unit is Fridge, Stove, Washing Machine, Dryer, garbage dumpster, ground care. Onsite office that is currently used for storage by the property management and maintenance crew. Property management company is owed by the owners and are more than happy to continue management. Tenants are registered with online management program for rent pay and work orders. Units have been maintained as needed- All new roofs 2016, AC units and appliances have been replaced as needed, work orders are completed as they are submitted, approx. 50% of units have been replaced with LVP flooring on the main level and in the bathrooms, carpet replaced as needed. All tenants have a deposit in trust. ADDITIONALLY: 3 acres of cleared land for 24 additional units, 4 buildings with 6 units each, already addressed by Harnett County and plans in hand. All utilities are at the road. Plans will be conveyed to the buyer at closing Owner has quote for build out of 24 units and upgrading 36 units to equal the new 24 new units. Could be a total of 60 units. Note: Listing agent is part owner in the property. Buyers will be referred to buyers agent in office.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$133 USD /SF

# OF UNITS

36

PRICE/UNIT

$166,667

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Meredith Square Townhomes NEAR Campbell Uni.

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1999

PARKING SPACES

60

LAND DETAILS

LAND ACRES

7.1 AC

LAND SF

309,276 SF

ZONING

RA-30

APN/PARCEL ID

110670 0085,110670 0089

ASK ABOUT THIS PROPERTY

Lucia TurlingtonTurlington Real Estate Group Inc.More Info
910-892-0463

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Lucia TurlingtonTurlington Real Estate Group Inc.More Info
910-892-0463

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