703 Lake Ave - Apartments FOR SALE


Spring Lake, NC 28390- Pine Forest
$1,745,000 USD
910-797-1910
703 Lake Ave, Spring Lake, NC for Sale
$1,745,000 USD
Apartments - FOR SALE
1/26
null | 8.09% Cap Rate

703 Lake Ave
Spring Lake, NC 28390
Pine Forest


HIGHLIGHTS

  • Close to schools, shopping and employers
  • Neighborhood feel
  • Low maintenance

OVERVIEW

This offering comprises 11 updated, adjoining brick duplexes—22 two-bedroom, one-bathroom units—each on its own tax parcel, allowing for a flexible exit strategy or future resale optionality. These low-maintenance units feature durable metal roofing and straightforward layouts, designed for long-term efficiency and investor appeal. Four units require renovation, creating an opportunity to capture built-in equity and increase cash flow. Current market rents between $995 and $1,054 per unit based on comparable assets in the area.

FOR SALE DETAILS

PRICE

$1,745,000 USD

PRICE/SF

$134 USD /SF

# OF UNITS

22

PRICE/UNIT

$79,318

CAP RATE

8.09%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Calvin Street 22

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

R6

APN/PARCEL ID

0501-95-9909

ASK ABOUT THIS PROPERTY

Steve HoganGrant-Murray Real Estate LLCMore Info
910-797-1910

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Steve HoganGrant-Murray Real Estate LLCMore Info
910-797-1910

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