Log In/Sign Up
Your email has been sent.
Wilson Place 4942-4959 Fieldcrest Dr 26 Unit Apartment Building $2,733,549 CAD ($105,137 CAD/Unit) 6.85% Cap Rate Fayetteville, NC 28303
Investment Highlights
- Capital improvements recently completed including full roof replacements and updated HVAC systems across most units.
- Demonstrated rent growth with more than $325 increases achieved on renovated apartments.
- Reduced deferred maintenance exposure providing long-term investment security.
- Interior renovations completed in the majority of units with modern finishes and improved durability.
- Added income stability through tenant water billing that offsets operating expenses.
- Remaining value-add potential available through completion of final unit upgrades.
Executive Summary
The Wilson Place Apartments consist of twenty-six (26) stabilized apartment units located in the West Fayetteville Submarket.
There are four buildings in total—three 8-unit buildings (4,600SF) constructed in 1972, and one duplex (1,647SF) constructed in 1968.
Property upgrades during the past 5 years include the following:
• All building roofs replaced (completed within the last 24 months);
• 15 of 26 HVAC systems replaced;
• 23 of 26 units fully updated, including:
o LVP flooring throughout
o Fresh interior paint
o Updated countertops
• Market rents increased by $325+ per unit as renovations were completed;
• Main drain lines replaced in 2 of the 4 buildings;
• Washer and dryer hookups added in all 26 units.
As a result, deferred maintenance is significantly reduced, lowering future capital risk for buyers, and creating a strong value-add opportunity with proven rent growth already in place.
In addition, tenants are billed $50 per month for water usage, creating an additional income stream and helping offset operating expenses.
From a positioning standpoint, this asset offers:
• Major capital items already addressed (roofs, HVAC, plumbing);
• Interior renovations 90% completed;
• Proven rent increases with additional upside remaining on the remaining units;
• Utility cost recovery through tenant water billing.
Currently annual gross operating income is $209,784 with value-add opportunities. The T-12 net operating income for the property is $136,704 (6.85% cap rate).
Wilson Place Apartments are located off Bragg Blvd in the West Fayetteville Submarket just 0.50 miles from the All-American Expressway and 1.75 miles from I-295 Outer Loop, providing the property convenient access to the major roads in and around Fayetteville and to Fort Bragg
There are four buildings in total—three 8-unit buildings (4,600SF) constructed in 1972, and one duplex (1,647SF) constructed in 1968.
Property upgrades during the past 5 years include the following:
• All building roofs replaced (completed within the last 24 months);
• 15 of 26 HVAC systems replaced;
• 23 of 26 units fully updated, including:
o LVP flooring throughout
o Fresh interior paint
o Updated countertops
• Market rents increased by $325+ per unit as renovations were completed;
• Main drain lines replaced in 2 of the 4 buildings;
• Washer and dryer hookups added in all 26 units.
As a result, deferred maintenance is significantly reduced, lowering future capital risk for buyers, and creating a strong value-add opportunity with proven rent growth already in place.
In addition, tenants are billed $50 per month for water usage, creating an additional income stream and helping offset operating expenses.
From a positioning standpoint, this asset offers:
• Major capital items already addressed (roofs, HVAC, plumbing);
• Interior renovations 90% completed;
• Proven rent increases with additional upside remaining on the remaining units;
• Utility cost recovery through tenant water billing.
Currently annual gross operating income is $209,784 with value-add opportunities. The T-12 net operating income for the property is $136,704 (6.85% cap rate).
Wilson Place Apartments are located off Bragg Blvd in the West Fayetteville Submarket just 0.50 miles from the All-American Expressway and 1.75 miles from I-295 Outer Loop, providing the property convenient access to the major roads in and around Fayetteville and to Fort Bragg
Property Facts
| Price | $2,733,549 CAD | Building Class | C |
| Price Per Unit | $105,137 CAD | Lot Size | 2.41 AC |
| Sale Type | Investment | Building Size | 16,385 SF |
| Cap Rate | 6.85% | Average Occupancy | 100% |
| No. Units | 26 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | Parking Ratio | 2.08/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R5A - Residential | ||
| Price | $2,733,549 CAD |
| Price Per Unit | $105,137 CAD |
| Sale Type | Investment |
| Cap Rate | 6.85% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.41 AC |
| Building Size | 16,385 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1972 |
| Parking Ratio | 2.08/1,000 SF |
| Zoning | R5A - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 26 | - | 600 |
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $666,848 CAD | |
| Land Assessment | $36,302 CAD | Total Assessment | $703,150 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$36,302 CAD
Improvements Assessment
$666,848 CAD
Total Assessment
$703,150 CAD
1 of 19
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Wilson Place | 4942-4959 Fieldcrest Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.