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$585,000
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Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Fayetteville
MLS Listing ID 764835
HOA Y/N No
Year Built 1950
Property Sub-Type Apartment
Property Description
Rare opportunity to acquire a fully occupied, income-producing 5-unit portfolio in Fayetteville, NC — offered at a 6.59% cap rate with $38,542 in annual net operating income. The offering includes a quadplex at 100 Twin Acres Drive and a detached one-bedroom cottage at 102 Twin Acres Drive, conveying together on one transaction. All five units are leased with leases in place through 2027, providing immediate cash flow for the incoming owner.
The quadplex (100 Twin Acres Dr, built 1962) features four apartments totaling 4,624 square feet across a mix of one- and two-bedroom floor plans. The detached cottage (102 Twin Acres Dr, built 1950) is a charming one-bedroom, one-bathroom residence totaling 706 square feet. Combined gross monthly rent is $5,552 ($66,624 annually).
The owner has invested substantially in both properties in recent years. Notable improvements include: complete gut renovation of the cottage (2025) with new mini-split HVAC, LVT flooring, oak kitchen cabinets, new bathroom fixtures, and full exterior repaint; complete renovation of Apt C (2021) including new kitchen, new bathrooms, new flooring, and new windows; new roofs on Apt C (2019) and Apt E (2019); new windows throughout multiple units (2025–2026); major site drainage and grading work ($26,000, 2023); and extensive cosmetic updates across all units. Roofs on Apts A and B were replaced approximately 2012.
Tenants pay electric, gas, and internet. Water at 102 Twin Acres Dr is tenant-paid. Owner expense load is lean — property taxes, insurance, lawn care, water at the quadplex, pest treatment, and management total approximately $28,082 annually.
Fayetteville's rental market is anchored by Fort Bragg, one of the largest military installations in the United States, providing stable, year-round tenant demand.
The quadplex (100 Twin Acres Dr, built 1962) features four apartments totaling 4,624 square feet across a mix of one- and two-bedroom floor plans. The detached cottage (102 Twin Acres Dr, built 1950) is a charming one-bedroom, one-bathroom residence totaling 706 square feet. Combined gross monthly rent is $5,552 ($66,624 annually).
The owner has invested substantially in both properties in recent years. Notable improvements include: complete gut renovation of the cottage (2025) with new mini-split HVAC, LVT flooring, oak kitchen cabinets, new bathroom fixtures, and full exterior repaint; complete renovation of Apt C (2021) including new kitchen, new bathrooms, new flooring, and new windows; new roofs on Apt C (2019) and Apt E (2019); new windows throughout multiple units (2025–2026); major site drainage and grading work ($26,000, 2023); and extensive cosmetic updates across all units. Roofs on Apts A and B were replaced approximately 2012.
Tenants pay electric, gas, and internet. Water at 102 Twin Acres Dr is tenant-paid. Owner expense load is lean — property taxes, insurance, lawn care, water at the quadplex, pest treatment, and management total approximately $28,082 annually.
Fayetteville's rental market is anchored by Fort Bragg, one of the largest military installations in the United States, providing stable, year-round tenant demand.
Location
State NC
County Cumberland
Interior
Fireplace No
Exterior
Water Access Desc Public
Building
Dwelling Type Apartment
Sewer Public Sewer
Water Public
Others
Tax ID 0417917773
Ownership More than a year
Acceptable Financing Cash, New Loan
Listing Terms Cash, New Loan
Special Listing Condition None
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Listed by TOWNSEND REAL ESTATE
Nearby School & Business
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