Oak Court Apartments & Retail - Investment Sale

Multi-Family for Sale
Sale Pending
Also listed as Retail-Commercial
Catylist Listing ID: 30725610
Property Subtypes: Mid-Rise, Mixed Use, Other
Status: Pending
Number of Units: 30 Units
Building Size (RSF): 29,037 SF
Gross Building Area: See Agent
Gross Land Area: 2.37 Acres
Sale Price: $4,050,000
Unit Price: $135,000 Per Unit
Property Use Type: Investment
Building Name: Oak Court
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/7/2021

Overview / Comments

Oak Court Apartments for sale, a 30-unit multifamily complex with a ± 5,920 –square foot retail strip center located on S. Kerr Avenue in Wilmington, NC (the “Property”).

While the Wilmington apartment market continues to be one of the best performing in the country, the Property historically struggled due to former management issues. These issues have recently been resolved, and the asset is now stabilized and in a position to push rents.

The Property benefits from permanent, non-recourse, assumable financing.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R04918-003-007-000

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,349 76,556 138,489
Median Age: 26.66 34.08 36.63
Households: 5,482 33,219 59,594
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