12-unit value-add apartment asset at 5704 Old Hwy 54 with two adjacent parcels included (±2.08 AC total), offered individually as part of the Hines Portfolio.
Positioned along Old Hwy 54, this 12-unit multifamily opportunity pairs a manageable scale with embedded land value across two adjacent parcels (for a combined ±2.08 AC). The primary building (circa 1980, 9,030 SF, brick) carries a mix of 8 two-bedroom and 4 one-bedroom units, ideal for a value-add reposition toward market rents. Parking is on-site; targeted re-striping adjacent to the building is planned to satisfy fire/ROW turnaround requirements.
As part of the broader Hines Portfolio, the seller will consider cross-access and utility easements in connection with parcel splits. Property is served by private/onsite sewer; easement or alternative solutions are feasible subject to approvals. Full diligence is available via NDA.
Remarks / Disclosures:
- Included Parcels: 089-00-00-015-01-000 (5704 Old Hwy 54), 089-00-00-017-00-000 (Old Hwy 54, ±0.28 AC), 089-00-00-018-00-000 (5740 Old Hwy 54, ±0.75 AC with ±1,200 SF metal building).
- Re-striping: targeted adjustments adjacent to apartments per fire/ROW; scope/timing/responsible party to be confirmed.
- Sewer: Private/onsite; easements/alternatives considered with parcel splits.
- Portfolio: Part of the Hines Portfolio — see master listing for map & additional assets.