West Pine Lofts 306 W Pine St
18 Unit Apartment Building $1,200,000 ($66,667/Unit) 6.24% Cap Rate Goldsboro, NC 27530
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INVESTMENT HIGHLIGHTS
- Stabilized Asset with Significant Upside Potential Through a Utility Bill-Back Program
- Minutes from Seymour Johnson Air Force Base, a Key Regional Employer with over 12,500 Personnel
- Less than two minutes to I-795 and Other Major Highways, Ensuring Quick Connectivity to Raleigh and other MSAs
- Prime location less Than One Hour from Raleigh, NC, Providing Access to a Major Economic Hub
- Walking Distance to Downtown Goldsboro, Offering Employment, Retail, Dining, and Entertainment Options
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present for sale West Pine Lofts, a multifamily property located at 306 W Pine Street in Goldsboro, North Carolina. This stabilized asset presents a significant upside through a utility bill-back program while benefiting from its prime location near key employment centers and transportation corridors. Positioned less than one hour from Raleigh, the property provides convenient access to one of North Carolina’s fastest-growing metropolitan areas. With immediate access to I-795 and other major highways, the property ensures seamless connectivity to Raleigh and other major MSAs. Additionally, West Pine Lofts is just minutes from Seymour Johnson Air Force Base, a major economic driver and top employer in the region, employing approximately 5,300 active-duty personnel, 5,100 family members, 1,200 civilians, and 900 reservists. Moreover, the property is within walking distance of Downtown Goldsboro, offering residents proximity to employment, retail, dining, and entertainment options.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Price | $1,200,000 |
Price Per Unit | $66,667 |
Sale Type | Investment |
Cap Rate | 6.24% |
No. Units | 18 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Garden |
Building Class | C |
Lot Size | 1.05 AC |
Building Size | 8,557 SF |
Average Occupancy | 100% |
No. Stories | 1 |
Year Built/Renovated | 1965/2015 |
Parking Ratio | 2.34/1,000 SF |
UNIT AMENITIES
- Kitchen
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
1+1 | 12 | - | - |
2+1 | 1 | - | - |
ZONING
Zoning Code | CBDH |