CROATAN FOREST – 92 UNITS – HAVELOCK, NC
SOLD 2/28/19 FOR $4,625,000
Price included $175,000 in deferred maintenance credit
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.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 1987 BUILD - 2 UNITS | 2 BD / 1 BA | 1100 SF | $700 |
| 1987 BUILD - 32 UNITS | 2 BD / 1 BA | 850 SF | $551 - $645 |
| 1993 BUILD - 26 UNITS | 2 BD / 1 BA | 845 SF | $567 - $645 |
| 1993 BUILD - 32 UNITS | 2 BD / 1 BA | 875 SF | $567 - $645 |
PROPERTY INFORMATION
| PIN | SEE TAX RECORDS EXHIBIT |
| Tax Value | $3,841,900 (COMBINED) |
| Taxes | $46,702.39 (2017) / INSURANCE = $51,266 (2017) |
| 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 |
| Utilities | TENANTS PAY WATER AND ELECTRICITY |
| Appliances | RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER CONNECTIONS |
| Sold Date | 2019-02-28 |
Agent Information Steve Deaton
Location Map
CROATAN FOREST – 92 UNITS – HAVELOCK, NC