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Ocean Highway Apartments 15841 Us-17 Hwy S 24 Unit Apartment Building $6,281,640 CAD ($261,735 CAD/Unit) 5.48% Cap Rate Hampstead, NC 28443
INVESTMENT HIGHLIGHTS
- The Wilmington region is one of the fastest growing areas in the country, with the MSA’s population expanding by 13.7% (from April 2020 to July 2024).
- New road signage.
- Minutes from the beaches of Surf City.
EXECUTIVE SUMMARY
Cape Fear Commercial is pleased to present Ocean Highway Apartments for sale— a stabilized, 24-unit complex situated in Hampstead, NC just north of Wilmington and
minutes from the beaches of Surf City.
The project has recently undergone several CAPX improvement projects over the last several years, including renovating kitchens and replacing flooring in each unit, new HVAC and water heaters (as needed), new road signage (est installation May2025), and new dog park.
minutes from the beaches of Surf City.
The project has recently undergone several CAPX improvement projects over the last several years, including renovating kitchens and replacing flooring in each unit, new HVAC and water heaters (as needed), new road signage (est installation May2025), and new dog park.
PROPERTY FACTS
| Price | $6,281,640 CAD | Building Class | C |
| Price Per Unit | $261,735 CAD | Lot Size | 2.02 AC |
| Sale Type | Investment | Building Size | 30,402 SF |
| Cap Rate | 5.48% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1996/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.58/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | GB - General Business | ||
| Price | $6,281,640 CAD |
| Price Per Unit | $261,735 CAD |
| Sale Type | Investment |
| Cap Rate | 5.48% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.02 AC |
| Building Size | 30,402 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1996/2024 |
| Parking Ratio | 1.58/1,000 SF |
| Zoning | GB - General Business |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Wheelchair Accessible (Rooms)
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 24 | - | 917 |
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PROPERTY TAXES
| Parcel Number | 3293-21-9982-0000 | Improvements Assessment | $16,265 CAD |
| Land Assessment | $567,458 CAD | Total Assessment | $583,724 CAD |
PROPERTY TAXES
Parcel Number
3293-21-9982-0000
Land Assessment
$567,458 CAD
Improvements Assessment
$16,265 CAD
Total Assessment
$583,724 CAD
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Ocean Highway Apartments | 15841 Us-17 Hwy S
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