Carolinian East Condo Development For Sale

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30719656
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 6 Units
Building Size (RSF): 28,400 SF
Gross Building Area: See Agent
Gross Land Area: 2.17 Acres
Sale Price: $2,195,000
Unit Price: $365,833.33 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/17/2022

Overview / Comments

The Carolinian East Condo development is conveniently situated between Wilmington and Jacksonville in beautiful Holly Ridge, North Carolina

Located just off Highway 17 allows quick and easy access to local amenities and surrounding metros.

Current offering is for (6) finished condo units with tenants in place, (1) 12-unit unfinished condo building and (2) pad sites ready for vertical development

Use the income from the existing condo units to finance completion of the remaining development!

Excellent opportunity to add to a quickly growing submarket in coastal North Carolina.

As growth from Jacksonville has continued southward and from Wilmington northward, Holly Ridge and surrounding areas such as Surf City and Topsail Island have boomed into thriving bedroom communities with growing population and infrastructure.

Additional Details

Nearest MSA: Jacksonville
County: Onslow
Tax ID/APN: 072917
Zoning: MFR
Property Located Between: Hampstead & Sneads Ferry
Highway Access: Highway 17
Site Description: Ready for vertical development
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 3
Year Built: 2006
Year Renovated: 2011
Roof Type: Hip
Construction/Siding: Brick/Vinyl Siding
Parking Type: Surface
Parking Description: Surface Parking
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Zoning Description: MFR - Multifamily Residential
Water Service: Municipal
Sewer Type: Municipal
Legal Description: PT TR1 TOWN OF HOLLY RDG

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 1,218 9,369
Median Age: 40 38.46
Households: 519 3,897
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