5217 Tern PlFayetteville, NC 28311

Property Details for 5217 Tern Pl

Year built

1994

Lot size

4.60 AC

Property size (Sq ft)

68,400 SF

Property type

Apartment buildings

Description

This exceptional multifamily investment opportunity presents a 57-unit townhome community situated on a 4.6-acre lot in Fayetteville, North Carolina. Built in 1994 and renovated in 2022, the property boasts 68,400 square feet of total space, with 63,840 square feet of net rentable area. Currently operating at 96.49% occupancy, the nine buildings, each two stories high, offer spacious two-bedroom, two-and-a-half-bathroom townhomes. The property is zoned SF6 and enjoys a prime location near McArthur Boulevard, providing convenient access to Fort Liberty, major employment centers, and the I-295 corridor. Residents benefit from proximity to the Ramsey Street retail district, home to numerous national brands. An attractive feature of this investment is the assumable debt, offering a competitive 3.35% interest rate with a maturity date of January 1, 2029. This presents a significant value-add opportunity for a new owner to increase rental income through strategic improvements. The strong Fayetteville multifamily market, characterized by high demand and consistently above-average net absorption rates, further enhances the investment potential. This property is an ideal choice for investors seeking a well-located, high-performing asset with significant upside potential.

Location Insight

City

Fayetteville

County

Cumberland

State

North Carolina

Latitude

35.1307

Longitude

-78.9007

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].