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$ 359,000
Est. payment /mo
New
560 W Manchester RD Spring Lake, NC 28390
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Spring Lake
MLS Listing ID 760759
HOA Y/N No
Property Sub-Type Other
Property Description
This 4-unit multifamily property presents a compelling opportunity for investors seeking both immediate income and flexible long-term potential. This property consist of 4 individual single family homes on one land parcel. Situated on approximately 4.80 acres with direct road access, the property offers a unique blend of existing cash flow and land value in a market supported by steady rental demand due to its proximity to Fort Liberty. The layout lends itself to multiple strategies, including traditional long-term rentals, a house-hack approach, or potential short-term rental use (subject to local regulations and buyer verification).
Current rents appear to be below prevailing market levels, offering a potential path for future increases, while historically low vacancy trends in the area may support consistent occupancy. Some updates have already been completed, and roof improvements may completed with an acceptable offer prior to closing. The property features a mix of public sewer and septic systems and is located within a controlled/restricted airspace due to proximity to military installation.
Spring Lake and the surrounding areas have experienced steady growth in recent years, with ongoing development, infrastructure improvements, and continued demand driven by the nearby military base. Market rents have shown a consistent upward trajectory, reflecting stable and positive growth trends that may support long-term appreciation and income stability.
Additionally, the property's size, unit count, and income profile may make it attractive for a variety of financing options, including conventional, portfolio, or investor-focused lending programs, potentially allowing buyers to leverage favorable terms depending on qualifications.
Overall, this asset may appeal to investors pursuing value-add opportunities, rental repositioning, or long-term hold strategies in a market that continues to demonstrate resilience and growth. Buyers are encouraged to conduct their own independent due diligence to verify all information, rental potential, financing options, and permitted uses to ensure the property aligns with their investment goals. No Trash Service Fee, Included in Taxes!
Current rents appear to be below prevailing market levels, offering a potential path for future increases, while historically low vacancy trends in the area may support consistent occupancy. Some updates have already been completed, and roof improvements may completed with an acceptable offer prior to closing. The property features a mix of public sewer and septic systems and is located within a controlled/restricted airspace due to proximity to military installation.
Spring Lake and the surrounding areas have experienced steady growth in recent years, with ongoing development, infrastructure improvements, and continued demand driven by the nearby military base. Market rents have shown a consistent upward trajectory, reflecting stable and positive growth trends that may support long-term appreciation and income stability.
Additionally, the property's size, unit count, and income profile may make it attractive for a variety of financing options, including conventional, portfolio, or investor-focused lending programs, potentially allowing buyers to leverage favorable terms depending on qualifications.
Overall, this asset may appeal to investors pursuing value-add opportunities, rental repositioning, or long-term hold strategies in a market that continues to demonstrate resilience and growth. Buyers are encouraged to conduct their own independent due diligence to verify all information, rental potential, financing options, and permitted uses to ensure the property aligns with their investment goals. No Trash Service Fee, Included in Taxes!
Location
State NC
County Cumberland
Interior
Cooling Central Air, Electric
Flooring Carpet, Luxury Vinyl Plank
Fireplace No
Exterior
Water Access Desc Lake
Building
Sewer Other
Water Lake
Schools
Middle Schools Spring Lake Middle School
High Schools Pine Forest Senior High
Others
Tax ID 9592-94-7346
Special Listing Condition None
Listed by THE ENTENTE REAL ESTATE GROUP
NEARBY SCHOOL & BUSINESS
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