Osprey Cove North | 118 Broadhurst Rd
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Osprey Cove North 118 Broadhurst Rd
236 Unit Apartment Building For Sale Jacksonville, NC 28540
Investment Highlights
- Situated in Jacksonville, North Carolina, on a single 11.59-acre parcel.
- Opportunity to modernize 65 classic units into standard units with upgraded finishes and appliances.
- Significant potential for increasing rents and property value through further renovations.
- Standard apartments feature new flooring, updated appliances, painted cabinets, and resurfaced tubs.
- Central air in all units with cable included as a standard feature.
- Demonstrated commitment to quality through substantial upgrades and strong operational amenities.
Executive Summary
Waterstone Multi-Housing Advisors is pleased to present Osprey Cove North; a 236-unit complex located in Jacksonville, North Carolina. This property was built in 1971 and consists of 14 2-story buildings and 1 1-story building. The property sits on one parcel at 11.59 acres. Osprey cove consists of 72 1-bedroom units averaging 594 sq feet, 40 2-bedroom small units averaging 792 square ft and 124 2-bedroom large units averaging 920 sq feet.
New ownership has the opportunity to turn the remaining 65 classic units over to the standard units. The Classic units have used appliances, used flooring, and minor imperfections. Renovated (Standard) apartments have new flooring, new or newer appliances, new hardware on cabinets, all cabinets are painted white and the tubs are resurfaced. New leases at Osprey Cove are also being charged a $125 amenity fee which includes water, sewer, trash, pest control, high speed Internet, and HD cable. Since current ownership acquired the property in 2021, they have completed north of $622,000 in CapEx improvements. This included replacing a large majority of the refrigerators, HVAC systems, carpet, Hot water heaters, and resurfacing a large portion of the countertops and bathtubs among other things.
Additional site amenities include hammock garden & fire pit area. Additional unit amenities include keyless entry, smart thermostats, central air and cable is included.
New ownership has the opportunity to turn the remaining 65 classic units over to the standard units. The Classic units have used appliances, used flooring, and minor imperfections. Renovated (Standard) apartments have new flooring, new or newer appliances, new hardware on cabinets, all cabinets are painted white and the tubs are resurfaced. New leases at Osprey Cove are also being charged a $125 amenity fee which includes water, sewer, trash, pest control, high speed Internet, and HD cable. Since current ownership acquired the property in 2021, they have completed north of $622,000 in CapEx improvements. This included replacing a large majority of the refrigerators, HVAC systems, carpet, Hot water heaters, and resurfacing a large portion of the countertops and bathtubs among other things.
Additional site amenities include hammock garden & fire pit area. Additional unit amenities include keyless entry, smart thermostats, central air and cable is included.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Sale Type | Investment | Building Class | C |
| No. Units | 236 | Lot Size | 11.59 AC |
| Property Type | Multifamily | Building Size | 177,720 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1971/2022 |
| Sale Type | Investment |
| No. Units | 236 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 11.59 AC |
| Building Size | 177,720 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2022 |
Unit Amenities
- Air Conditioning
- Balcony
- Security System
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Tub/Shower
- Carpet
- Built-In Bookshelves
- Patio
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Tenant Controlled HVAC
- Grill
- Pet Play Area
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 72 | $1,191 CAD | 594 |
| 2+1 | 164 | $1,400 CAD | 792 - 920 |
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PROPERTY TAXES
| Parcel Number | 332-45 | Improvements Assessment | $14,563,115 CAD |
| Land Assessment | $854,281 CAD | Total Assessment | $15,417,396 CAD |
PROPERTY TAXES
Parcel Number
332-45
Land Assessment
$854,281 CAD
Improvements Assessment
$14,563,115 CAD
Total Assessment
$15,417,396 CAD
zoning
| Zoning Code | RMF-HD (RMF-HD zoning districts allow multifamily and single-family residential uses.) |
| RMF-HD (RMF-HD zoning districts allow multifamily and single-family residential uses.) |
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Tucker Bartley -
Waterstone Multi-Housing Advisors
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Osprey Cove North | 118 Broadhurst Rd
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