111 Morton Street, Jacksonville, NC 28540

******** Bedrooms ******** Square Feet

Description

Eastern Carolinas Commercial is pleased to present Morton Street Apartments, a 20-unit community in Jacksonville, NC. located just outside the busy corridors of N Marine Blvd and Western Blvd, the property consists of one- and two-bedroom floorplans situated in 4 buildings over 2 separate parcels on .98 +/- AC.

This asset offers an investor, proven rent growth premiums through continued implementation of light, interior upgrades, as well as further upside potential through adding exterior/amenity upgrades as the market continues to mature.

Current ownership has upgraded 10 out of 20 Units with new cabinetry, LVP / carpet flooring, appliances, countertops, and a fresh paint scheme.

• Central Location Convenient to Economic Generators, Military Bases, Local Beaches, and Major Thoroughfares

• Proven Value-Add Opportunity Through Light Interior Upgrades

• Upside Potential Through Bringing Rents to Market Levels

• New Roof in 2021

• Well Maintained by Current Ownership

• Consistent Occupancy with a Growing Wait List for Tenants

• Price per unit: $57,500

Tenants in place and we ask that they are not disturbed. Contact listing agent for further details, rent roll, expenses, capital improvements or to schedule a showing.

    Cooling

  • Wall/Window Unit(s)
  • Foundation

  • Slab
  • Heating Fuel

  • Natural Gas
  • Electric
  • Heating

  • Wall/Floor Furnace
  • Gas Pack
  • Listing Terms

  • 1031 Exchange
  • Cash
  • Conventional
  • Lot Features

  • Corner Lot
  • Parking

  • Parking Lot
  • On Site
  • Paved
  • Roof

  • Metal
  • Structure

  • Block
  • Utilities

  • Municipal Sewer
  • Municipal Water

Mortgage Calculator

Sale price ($)

Down payment (%)

Interest Rate (%)

Term (years)

Price: $1,150,000.00
MLS ID 100340689
Location Jacksonville, NC 28540
Acreage 0
Year Built 1968
Neighborhood Sabiston Height

Larry Lupus

View Bio
Broker | REALTOR®

Contact Info

Emerald Isle Sales Office
200 Mangrove Drive
Emerald Isle, NC 28594
(888) 737-5983

Office: (252) 354-2128
Cell: (252) 728-0009

Contact Agent - Real Estate Listing

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Property listed by Eastern Carolinas Commercial Real Estate

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