Rim Creek Apartments 4811 Cellner Dr 56 Unit Apartment Building For Sale Fayetteville, NC 28314

Rim Creek Apartments is a 56-unit multifamily community located at 4811 Cellner Drive in Fayetteville, North Carolina, within a well-established residential corridor in close proximity to Fort Bragg. Built in 2010, the property consists of 44 two-bedroom / two-bath units and 12 three-bedroom / two-bath units, offering a diverse unit mix that appeals to both families and roommate households. The asset is currently approximately 93% occupied, with scheduled move-ins bringing leased occupancy to approximately 95%.
Rim Creek presents investors with the opportunity to acquire a newer-vintage asset where current ownership has already completed significant operational stabilization following its recent acquisition. Physical occupancy has improved since acquisition, and concessions on in-place leases are scheduled to burn off contractually within the next several months, providing visible near-term revenue lift.
Current average in-place rents are approximately $1,128 for two-bedroom units and $1,348 for three-bedroom units, against market rents of approximately $1,210 and $1,380 respectively. In addition, real estate taxes were reset in Cumberland County’s 2025 revaluation and are not scheduled for reassessment until 2031, and preliminary agency financing quotes are in hand. Remaining economic vacancy is primarily driven by elevated concession usage rather than weak collections, creating a clear path for future NOI growth as leasing incentives are reduced and revenue normalizes.
Rim Creek Apartments is being offered individually or as part of a three-property Fayetteville portfolio alongside Karen Lake and Village Chase, providing investors flexibility to acquire either a standalone asset or scaled portfolio presence within the Fayetteville market.
SITE TOURS: September 22, 2026 & September 23, 2026
CALL FOR OFFERS: September 30th, 2026