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1603 Lake Park Blvd S 4 Unit Apartment Building $1,913,588 CAD ($478,397 CAD/Unit) Carolina Beach, NC 28428
Investment Highlights
- Fully remodeled and furnished turn-key 4-unit quadplex
- Adjacent to the CB/KB pipeline at one of the island’s most popular surf locations (“Surf Station”)
- Not located in a flood zone, despite being approximately 27 steps from the beach
- Ocean-access property located directly at Texas Ave beach access in Carolina Beach
- Ideal for 1031 exchange, bonus depreciation via Cost Seg, or turn-key Airbnb / mid- to long-term rental investment
- Cinderblock firewall construction between units, offering potential for future condo conversion
Executive Summary
The Harris Group is excited to present this fully remodeled and furnished turn-key 4-Unit Ocean-Access Quadplex located on the Texas Ave beach access in Carolina Beach. Located adjacent to the CB/KB pipeline, ''Surf Station'' is built on one of the most popular beach access surfing locations on the island. This opportunity is perfect for a 1031 exchange, investor looking to capture Bonus Depreciation via Cost Seg study, or anyone looking for a fully functioning turn-key AirBNB or Mid/Long term rental multifamily property. No HOA, Not in a flood zone despite being just 27 steps from the beach, potential value-add opportunity in that zoning permits ability to build UP, and property is constructed with cinderblock firewall between units which could potentially allow for units to be broken into individually condos. Currently lined for 8 parking spots, has room for 9 spaces. Built in 1955, this former longterm/midterm multifamily rental had never flooded prior to the No Name storm of September 24, but did get water intrusion during that historic storm, and has been fully renovated with new subfloor, LVP, trim, drywall and paint, kitchens, bathrooms, vanities, water heater. In addition, owners also completed new roof, facia, soffit, furniture and staging, AC enclosures, back deck and walkways to beach, and is currently turnkey and ready to rent. Show less
Property Facts
| Price | $1,913,588 CAD | Building Class | C |
| Price Per Unit | $478,397 CAD | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 2,042 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1955 |
| Property Subtype | Apartment | ||
| Zoning | MF - MF | ||
| Price | $1,913,588 CAD |
| Price Per Unit | $478,397 CAD |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,042 SF |
| No. Stories | 1 |
| Year Built | 1955 |
| Zoning | MF - MF |
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Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R09018-012-001-000 | Improvements Assessment | $358,641 CAD |
| Land Assessment | $1,059,501 CAD | Total Assessment | $1,418,142 CAD |
Property Taxes
Parcel Number
R09018-012-001-000
Land Assessment
$1,059,501 CAD
Improvements Assessment
$358,641 CAD
Total Assessment
$1,418,142 CAD
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1603 Lake Park Blvd S
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