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Hyland Hills Studio Residences 130 Fairway Ave 38 Unit Apartment Building $4,980,204 CAD ($131,058 CAD/Unit) 7.40% Cap Rate Southern Pines, NC 28387
INVESTMENT HIGHLIGHTS
- 38 Fully Leased Studio Residences
- Controlling Interest in Homeowners Association
EXECUTIVE SUMMARY
PRIME INVESTMENT OPPORTUNITY: This 4.88-acre property encompasses the common areas of a 60-unit community and includes 38 fully leased studio residences, offering controlling interest in the Hyland Hills Motor Lodge Homeowners Association. Located at 130 Fairway Ave, Southern Pines, NC, this investment benefits from a prime location just off US 1 Hwy and adjacent to the renowned Hyland Hills Golf Club. The golf club was established in 1973 and designed by Michael Gleason and Carolina Golf Hall of Fame member Tom Jackson. Originally operating as short-term rentals, the property was later converted to offer accomodations as studio residences, making it a unique investment asset.
Each studio residence features a studio floor plan with outdoor patios, maximizing rental appeal. Located just minutes from downtown Southern Pines, these units offer convenient access to key local amenities, making them highly desirable to prospective renters.
This unique offering presents a rare opportunity to enter a thriving market with strong demand for affordable rental properties. Don’t miss your chance to invest in 38 studio residences and unlock return potential in this vibrant and growing community.
Please direct all inquiries to Listing Broker, Terry Mohr.
Each studio residence features a studio floor plan with outdoor patios, maximizing rental appeal. Located just minutes from downtown Southern Pines, these units offer convenient access to key local amenities, making them highly desirable to prospective renters.
This unique offering presents a rare opportunity to enter a thriving market with strong demand for affordable rental properties. Don’t miss your chance to invest in 38 studio residences and unlock return potential in this vibrant and growing community.
Please direct all inquiries to Listing Broker, Terry Mohr.
PROPERTY FACTS
| Price | $4,980,204 CAD | Apartment Style | Townhome |
| Price Per Unit | $131,058 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 4.88 AC |
| Cap Rate | 7.40% | Building Size | 28,500 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| No. Units | 38 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | ||
| Zoning | RM-1 - RM-1 (Residential Single & Multi-Family) with portion in Urban Transition Highway Corridor | ||
| Price | $4,980,204 CAD |
| Price Per Unit | $131,058 CAD |
| Sale Type | Investment |
| Cap Rate | 7.40% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 4.88 AC |
| Building Size | 28,500 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1973 |
| Zoning | RM-1 - RM-1 (Residential Single & Multi-Family) with portion in Urban Transition Highway Corridor |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
- Patio
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Detector
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Hyland Hills Studio Residences | 130 Fairway Ave
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