3207 Briggs St - Apartments FOR SALE


Kill Devil Hills, NC 27948
$1,250,000 USD
252-592-4629
3207 Briggs St, Kill Devil Hills, NC for Sale
$1,250,000 USD
Apartments - FOR SALE
1/36
null | Request Cap Rate

3207 Briggs St
Kill Devil Hills, NC 27948


HIGHLIGHTS

  • Between Hwy's with easy walking distance to the Atlantic Ocean, Restaurants and Shopping.

OVERVIEW

Investment Summary 3207 Briggs Street presents a rare opportunity to acquire a six-unit, value-add multifamily asset in the heart of Kill Devil Hills, one of the Outer Banks' strongest rental markets. The property consists of a two-story, approximately 3,558-square-foot building with six residential units and includes the adjacent parcel (Lot 8, Parcel #000022000), providing additional value and future flexibility. The current ownership has maintained consistent occupancy; however, existing rental rates remain below prevailing market levels. Investors have a clear opportunity to execute a value-add strategy through interior renovations, exterior improvements, and operational efficiencies designed to reposition the asset and drive meaningful increases in net operating income. The property's commercial zoning provides flexibility for future ownership strategies while preserving its established multi-family use. Situated just minutes from the Atlantic Ocean, major employers, retail, dining, and year-round amenities, the asset benefits from a highly desirable location with strong rental demand and limited multifamily inventory. Investment Highlights Six-unit multifamily asset in the center of Kill Devil Hills. Commercial zoning with established residential use. Below-market in-place rents provide immediate income growth potential. Value-add renovation opportunity to increase rental revenue and overall asset value. Adjacent parcel included (Lot 8, Parcel #000022000), offering additional flexibility and long-term potential. Excellent coastal location near beaches, employment centers, shopping, and restaurants. Opportunity to enhance cash flow, increase NOI, and create substantial equity through strategic capital improvements and professional asset management. This offering represents an opportunity to acquire a well-located, income-producing asset with significant upside through thoughtful repositioning in one of North Carolina's most sought-after coastal markets.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$351 USD /SF

# OF UNITS

6

PRICE/UNIT

$208,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,000 SF

ZONING

C

APN/PARCEL ID

000023000

ASK ABOUT THIS PROPERTY

John HeadResort Realty of The Outer Banks, Inc.More Info
252-592-4629

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

John HeadResort Realty of The Outer Banks, Inc.More Info
252-592-4629

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