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Multifamily

Brookview & Hinson Arms Townhomes

3340 Richlands Hwy, Jacksonville, NC 28540

Listing Price: $11,000,000

Cap Rate
4.08%
Number of Units
108
Price/Unit
$101,852
Price/Gross SF
$105.69
Gross SF
104,080

Investment Overview

Marcus and Millichap is pleased to present the Hinson Arms and Brookview Apartments, located in Jacksonville, North Carolina. The Hinson Arms Apartments have 60 two bedrooms and one and half bathroom units. Of these units twelve were built in 2021 and a large majority of the existing 48 units have been fully renovated. An There is also the potential to develop self-storage on the Hinson Arms property. Previous plans included 94 climate-controlled units and 26 10x20 exterior units. Estimated cost to develop is $500,000 and an exit sales price of $1,500,000. The Brookview Apartments consist of 48 two bedrooms and one and a half bathroom units. These units all have washer and dryer hook ups. The roof was replaced in 2018 and some of the units have been fully renovated. An investor will have the opportunity to increase rents five to ten percent with the current rents being below market. There is also the opportunity to renovate more units and increase revenue through organic rent growth.

Investment Highlights

  • 12 Newly Constructed Units
  • Ability to Increase Rents 5 to 10 Percent Immediately
  • Brookview Apartments Received a New Roof in 2019

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Multifamily

Brookview & Hinson Arms Townhomes

Listing Price: $11,000,000

Cap Rate
4.08%
Number of Units
108
Price/Unit
$101,852
Price/Gross SF
$105.69
Gross SF
104,080

Investment Highlights

  • 12 Newly Constructed Units
  • Ability to Increase Rents 5 to 10 Percent Immediately
  • Brookview Apartments Received a New Roof in 2019

Investment Overview

Marcus and Millichap is pleased to present the Hinson Arms and Brookview Apartments, located in Jacksonville, North Carolina. The Hinson Arms Apartments have 60 two bedrooms and one and half bathroom units. Of these units twelve were built in 2021 and a large majority of the existing 48 units have been fully renovated. An There is also the potential to develop self-storage on the Hinson Arms property. Previous plans included 94 climate-controlled units and 26 10x20 exterior units. Estimated cost to develop is $500,000 and an exit sales price of $1,500,000. The Brookview Apartments consist of 48 two bedrooms and one and a half bathroom units. These units all have washer and dryer hook ups. The roof was replaced in 2018 and some of the units have been fully renovated. An investor will have the opportunity to increase rents five to ten percent with the current rents being below market. There is also the opportunity to renovate more units and increase revenue through organic rent growth.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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