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Karen Lake (Auction)

Exclusive Auction Listing | REO | 72 Units | 1995-2005 Construction | Attractive In-place Yield | Brick and HardiPlank Exteriors | Fayetteville, NC | The property will be sold through the auction websiteTen-X (formerly Auction.com). Karen Lake is Event B205-153 and Property 193051297. The exact procedures for registering with Ten-X.com, providing a participation deposit, performing due diligence, and submitting a bid are detailed at https:// www.ten-x.com/company/commercial/help/submitting-an-offer/. The site for this property will be live beginning March 7, 2017 and the bidding will take place during the period of April 24-26, 2017. Tours will be offered by Barden Brown on March 22-23 and April 18-19, while tours will be offered by Steve Mack on March 29-30, April 12-13, and April 24-25, 2017.

Property Highlights:

Year Built / Renovated: 1995 / N/A
Number of Units: 72 Units

Site Details

Site Size / Density: 6.8 Acres; 10.5 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator with Icemaker
  • Built-in Microwave
  • Open Breakfast Bar
  • Gas Fireplace
  • Washer/Dryer
  • Connections
  • Laundry/Utility Room
  • Patio/Balcony with Storage Closet
  • Walk-in Closet in MBR
  • Garden Tub in MBA
  • Separate Shower Stall
  • Vaulted Ceiling*
  • Six-panel Interior Doors
  • Ceiling Fan(s)
  • Window Blinds
  • (*In select units)

Community Amenities

  • Controlled Access Gate
  • Clubhouse/Leasing Office*
  • Swimming Pool*
  • Mail Kiosk
  • Rental Storage Units On-site
  • Car Care Area
  • Sought-after Haymount Schools
  • Mature Landscaping
  • Convenient to Multiple Bus Lines
  • Walk to Major Retailers
  • (*In select units)

Investment Highlights:

  • Well-occupied property, mostly built in 2005, offers attractive in-place yield.
  • Low-maintenance exteriors are brick and HardiPlank.
  • The spacious floorplans (all 1,200 SF) feature fireplace, garden tub, washer/dryer connections, separate dining area, and ample storage.
  • Just off busy US 401 Bypass (35,000 vehicles per day) near its intersection with Bragg Blvd. (27,000 v.p.d.).
  • Close to Cross Creek Mall and Skibo Road (49,000 v.p.d.).
  • Convenient to numerous large employers, such as Fort Bragg (50,000 jobs), VA Medical Center, Fayetteville State University, Methodist University, and Goodyear Tire.
  • Property benefits from its sought-after school district.
  • The Fayetteville MSA enjoys steady population growth and declining unemployment.

To access more detailed information about this property such as the Offering Memorandum PDF or other documents please Log in or Register.

Contact Information

Barden Brown

Senior Managing Director

Steve Mack

Managing Director - Multifamily Sales and Lending

Bo Brown

President and CEO