Fayetteville Portfolio – 117 Units

Waterstone Multi-Family Group is pleased to present a 117-unit, 4-property portfolio located in Fayetteville, NC, home to Fort Bragg (the largest military base in the world, with over 53,000 active duty, and 14,000 civilian personnel).

Properties Include:

  • Creekside Apartments: 60-units built in 1983 – Located in the town Hope Mills, NC, just minutes from a brand new shopping center and movie theater, across the street from Hope Mills Middle School and multiple dining options.
  • Pine Springs Apartments: 37-units built in 1982 – Centrally located between Fayetteville and Hope Mills, just minutes from the Cape Fear Valley Hospital and Douglas Byrd High School. Easy access to Raeford Rd and All American Freeway.
  • Woodlea Apartments: 14-units built in 1963 – Conveniently located on Bragg Blvd and directly down the road from Fort Bragg itself. Next door to Eutaw Shopping Center and across the street from Fayetteville Tech College.
  • Barrington Apartments: 6-units built in 1963 – Located one minute [0.2mi] down the street from Woodlea Apartments on Bragg Blvd. Barrington is also situated directly up the road from the central Fayetteville Business District.

 

Creekside Apartments has recently undergone a CapEx overhaul program over several months due to previous flooding episode.  Units have been extensively renovated, and this situation has been largely remediated.  Units are being returned to active rental status, and this can be seen in the Creekside PL’s vacancy numbers over the last twelve months (-$17.5k in June’17, down to -$1.5k in May’18).  Four down units still remain, as of the latest rent roll.

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Other

  • Address: Fayetteville, North Carolina 
  • Area: Fayetteville 
  • Number of Units: 117 
  • Acres: 15.02