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92 UNITS - HAVELOCK, NC

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Address

25 MUSTANG COURT
HAVELOCK, NC 28532

Overview

The Croatan Forest Apartments in Havelock, NC are a collection of 92 units built between 1987 and 1993. Located along the Neuse River between New Bern and Morehead City, Havelock is the home of Marine Corps Air Station Cherry Point, the world's largest Marine Corps air station.

Historically operated at 90 percent occupancy, there are 90, 2 BD/1 BA floorplans of approximately 850 SF with current monthly rents ranging from $550 to $645. Two apartments are 1100 SF, 2 BD/1 BA units that currently rent for $700 per month. 

The property has been well maintained and is professionally managed by Management Services of New Bern. Based on the trailing 12-month operating financials, the property is being offered at a 7.3-percent cap rate. 


Unit Information

UnitSizeTypeRent
1987 BUILD - 2 UNITS 1100 SF 2 BD/1 BA $700
1987 BUILD - 32 UNITS 850 SF 2 BD/1 BA $551 - $645
1993 BUILD - 26 UNITS 845 SF 2 BD/1 BA $567 - $645
1993 BUILD - 32 UNITS 875 SF 2 BD/1 BA $567 - $645

Property Information

PIN
SEE TAX RECORDS EXHIBIT
Tax Value
$3,841,900 (COMBINED)
Taxes
$46,702.39 (COMBINED)
Lot Size
6.944 (COMBINED)
Year Built
1987 - 1993
Exterior
1987, BRICK/VINYL / 1993, VINYL
Floors
CARPET, VINYL
Foundation
SLAB
HVAC
CENTRAL A/C, HEAT PUMP
Appliances
RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER CONNECTIONS