203 S Jonesville Blvd - Apartments FOR SALE


Jonesville, NC 28642
$4,100,000 USD
704-420-4031
203 S Jonesville Blvd, Jonesville, NC for Sale
$4,100,000 USD
Apartments - FOR SALE
1/54
null | 7.83% Cap Rate

203 S Jonesville Blvd
Jonesville, NC 28642


HIGHLIGHTS

  • 100% occupancy with in-place NOI of $321,210
  • 7.83% cap rate at asking price of $4.1M
  • Average rents of $936/month well below market peers & Renovated units already achieving $950–$1,050/month
  • Zero new deliveries in Yadkin County for 10+ years
  • Value-add upside with two convertible storage/leasing rooms
  • On-site laundry and pool enhance tenant retention and add opportunity for additional income

OVERVIEW

Available as a portfolio in conjunction with Heathfield Apartments, located at 223 S. Morrow Ave, Albemarle, NC 28001. The property is offered for sale at $4,100,000, reflecting a cap rate of 7.83% based on current NOI of $321,210. Occupancy is 100%, with average unit rents at $936/month. Market comps indicate renovated units can achieve $950–$1,050/month, supporting a mark-to-market rent growth strategy. With two unused rooms offering conversion potential, Little Creek provides a compelling mix of stabilized cash flow and upside in a no-competition market

FOR SALE DETAILS

PRICE

$4,100,000 USD

PRICE/SF

$119 USD /SF

# OF UNITS

36

PRICE/UNIT

$113,889

CAP RATE

7.83%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Little Creek Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.64 AC

LAND SF

114,998 SF

ZONING

Res

APN/PARCEL ID

123194

ASK ABOUT THIS PROPERTY

Jack McDermottLee & AssociatesMore Info
704-420-4031

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Jack McDermottLee & AssociatesMore Info
704-420-4031

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