Wilson Place 4942-4959 Fieldcrest Dr Immeuble residentiel 26 lots 1 721 426 € (66 209 €/Lot) Taux de capitalisation 6,85 % Fayetteville, NC 28303

The Wilson Place Apartments consist of twenty-six (26) stabilized apartment units located in the West Fayetteville Submarket.

There are four buildings in total—three 8-unit buildings (4,600SF) constructed in 1972, and one duplex (1,647SF) constructed in 1968.
Property upgrades during the past 5 years include the following:

• All building roofs replaced (completed within the last 24 months);
• 15 of 26 HVAC systems replaced;
• 23 of 26 units fully updated, including:
o LVP flooring throughout
o Fresh interior paint
o Updated countertops
• Market rents increased by $325+ per unit as renovations were completed;
• Main drain lines replaced in 2 of the 4 buildings;
• Washer and dryer hookups added in all 26 units.

As a result, deferred maintenance is significantly reduced, lowering future capital risk for buyers, and creating a strong value-add opportunity with proven rent growth already in place.

In addition, tenants are billed $50 per month for water usage, creating an additional income stream and helping offset operating expenses.
From a positioning standpoint, this asset offers:

• Major capital items already addressed (roofs, HVAC, plumbing);
• Interior renovations 90% completed;
• Proven rent increases with additional upside remaining on the remaining units;
• Utility cost recovery through tenant water billing.

Currently annual gross operating income is $209,784 with value-add opportunities. The T-12 net operating income for the property is $136,704 (6.85% cap rate).

Wilson Place Apartments are located off Bragg Blvd in the West Fayetteville Submarket just 0.50 miles from the All-American Expressway and 1.75 miles from I-295 Outer Loop, providing the property convenient access to the major roads in and around Fayetteville and to Fort Bragg