OASIS PORTFOLIO – 200 UNITS IN WILMINGTON, N.C.

PRICE:
STATUS:
Off Market
ADDRESS:
205 Cedar Branch Lane, Wilmington, NC, USA
OVERVIEW:

Deaton GREA is pleased to present, as the exclusive listing broker for the seller, Oasis at Cedar Branch and Oasis at Twinwood, a 200-unit portfolio in the rapidly growing market of Wilmington, N.C. The portfolio features two properties located within 1.5 miles of each other, providing for economies of scale and streamlined management. The properties benefit from excellent locations, large floorplans with bed-bath parity, and a combined $2.1 million in recent capital improvements including interior renovations, amenity upgrades, and water submeter installation. Both assets were converted from by-the-bed, student leases to market rate operations over the last eighteen months.

Built in 2013, Oasis at Cedar Branch features 104 units located at 205 Cedar Branch Lane. The property has a mix of 48, two-bedroom and two-bathroom units of 1,000 SF and 56, three-bedroom and three-bathroom, town home-style units of 1,480 SF. Oasis at Twinwood, located at 4013 Wilshire Boulevard, was completed in 2011 and features 96 units. The garden-style units at Twinwood are a mix of 48, two-bedroom and two-bathroom units of 1,000 SF and 48, three-bedroom and three-bathroom units of 1,200 SF.

Link to Tax Records Twinwood Virtual Tours Cedar Branch Virtual Tours
UNIT INFORMATION
Unit Type Size Rent
CEDAR - 48 UNITS 2 BD/2 BA 1,000 SF $1,650
CEDAR - 56 UNITS 3 BD/3 BA (TOWNS) 1,480 SF $2,059
TWINWOOD - 48 UNITS 2 BD/2 BA 1,000 SF $1,575
TWINWOOD - 48 UNITS 3 BD/3 BA 1,200 SF $1,900
200 UNITS TOTAL 236,480 RSF $361,304 GPR
PROPERTY INFORMATION
PIN R04919-008-090-000, R05514-004-011-000, R05514-004-010-000
Tax Value $19,969,200 + $8,500,000 + $8,500,000
Taxes $168,739 + $71,825 + $71,825
Lot Size 11.21 + 3.31 + 3.51 ACRES
Year Built 2013, 2011
Exterior VINYL, BRICK
Floors LVP, CARPET, VINYL
Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMPS
Utilities OWNER PAYS CABLE/INTERNET
Legal Description R04919-008-090-000, R05514-004-011-000, R05514-004-010-000
Appliances RANGE, REFRIGERATOR, DISHWASHER, MICROWAVE, WASHER/DRYER
Zoning MULTIFAMILY

Location Map

OASIS PORTFOLIO – 200 UNITS IN WILMINGTON, N.C.
Address: 205 Cedar Branch Lane, Wilmington, NC, USA Unit: 200