Osprey Cove North 118 Broadhurst Rd 236 Unit Apartment Building For Sale Jacksonville, NC 28540

Waterstone Multi-Housing Advisors is excited to present Osprey Cove North, a 236-unit complex located in Jacksonville, North Carolina. Built in 1971, the property spans 11.59 acres and consists of 14 two-story buildings and one one-story building. The unit mix includes:

• 72 one-bedroom – one-bath units (average size: 594 sq. ft.)
• 40 small two-bedroom – one-bath units (average size: 792 sq. ft.)
• 124 large two-bedroom – one-bath units (average size: 920 sq. ft.)

Osprey Cove is situated within the Jacksonville Metropolitan Statistical Area (MSA), which includes the City of Jacksonville, Camp Lejeune, Swansboro, and North Topsail Beach. Jacksonville is home to the United States Marine Corps’ Camp Lejeune and the New River Air Station, with Camp Lejeune hosting over 30,000 active service members. The city’s current population is just over 73,000. Key industries in the area include Accommodation & Food Services, Retail Trade, and Educational Services.

The new owner will have the opportunity to upgrade the remaining 69 classic units to the standard renovation level. The classic units currently feature used appliances, old flooring, and minor imperfections. In contrast, the standard units have been upgraded with new flooring, newer appliances, updated cabinet hardware, white-painted cabinets, resurfaced tubs, and smart keylocks and thermostats. There are also 2 down units. Additionally, all new leases at Osprey Cove include a $125 amenity fee, covering water, sewer, trash, pest control, high-speed internet, and HD cable.

Since acquiring the property in 2021, the current ownership has invested close to $1 million in capital improvements, which include replacing many refrigerators, HVAC systems, carpets, and hot water heaters and resurfacing numerous countertops and bathtubs, among other upgrades.