Seahawk Cove Student Living Seahawk Cove Student Living Purpose-Built Student Housing Investment Opportunity 615, 617, 619 & 623 S. Kerr Avenue | Wilmington, North Carolina Listed at an In-Place 6% CAP, this property is priced to sell and has value-add potential. Located just minutes from the University of North Carolina Wilmington (UNCW), Seahawk Cove Student Living presents a rare opportunity to acquire a modern, purpose-built student housing asset in one of North Carolina’s fastest-growing coastal markets. This 48-unit / 144-bed community offers strong in-place cash flow, demonstrated rental growth, and long-term upside supported by consistent university demand and limited competing supply. Investment Highlights 48 Units | 144 Beds Purpose-Built Student Housing 3 Bedroom / 3 Bathroom Floor Plans Phase I Built in 2017 | Phase II Completed in 2023 Located Near UNCW Campus Current Occupancy: ~87% Modern Construction with Limited Near-Term CapEx Strong Historical Leasing Performance Attractive Opportunity for 1031 Exchange Buyers & Private Investors Seahawk Cove was specifically designed to serve the growing UNCW student population with highly desirable three-bedroom, three-bathroom units that align with student rental preferences. The property benefits from an infill location near campus, convenient access to retail and dining, and proximity to Wilmington’s major employment and lifestyle amenities. Financial Overview Trailing 12-Month Performance (Mar 2025 – Feb 2026) Listed at In-Place 6% CAP The pro forma projections anticipate occupancy exceeding 92%, supported by strong pre-leasing activity and operational efficiencies already underway. Management has identified opportunities for additional NOI growth through strategic expense reductions and continued rent optimization. Property Features Residents benefit from: Modern apartment finishes Spacious floor plans Surface parking Outdoor recreational amenities Basketball / sport court Professionally maintained grounds Student-focused community design Wilmington & UNCW Market Wilmington continues to experience substantial population and economic growth driven by healthcare, education, technology, tourism, and film production industries. UNCW remains one of the region’s strongest economic anchors, generating consistent student housing demand with limited nearby inventory available for acquisition. The property is surrounded by major retail, dining, and student housing communities including Harris Teeter, Sam’s Club, PT’s Olde Fashioned Grille, Cook Out, and several competing apartment communities, reinforcing the strength of the surrounding submarket.