24-Unit Apartment
For Sale
Contact for pricing
1043 Rulnick Street, Fayetteville, NC 28304
Six-building multifamily property in Fayetteville with MR5 zoning.
Property Size18,600 SF
Price / SF$129.03
Days on Market59
Property Features for 1043 Rulnick Street
General Information
Standard status
Active
Size
18,600 SF
Class
C
Total Parking Spaces
30
Property subtype
Multifamily
Zoning
MR5
Occupancy
70%
Investment Type
Value Add
Additional Details
Multifamily Units
24
Building Details
Year Built
1969
Year Renovated
2021
Buildings
6
Stories
1
Units
24
Tenancy
Multi
Listing Agency:
Multifamily USA
Listed By:
Scott Bayer · License #NC
Source:
Crexi
Added: Aug 24
Changed: Oct 6
Last Checked: Oct 20 at 7:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Multifamily USA
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Investment Insights
Based on property information with market context.
This multifamily property contains 24 apartment units distributed across six buildings. Constructed in 1969, the asset is located at 1043 Rulnick Street in Fayetteville, North Carolina, and carries MR5 zoning.
Key Highlights
- 24 apartment units across six buildings
- MR5 zoning
- Built in 1969
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,114
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,122,280
$3.1M
Cap Rate 7%
$2,230,200
$2.2M
Cap Rate 9%
$1,734,600
$1.7M
Market Conditions
NOI Build-Up for 18,600 SF
Gross rent
$301.3K $16.20/SF
− Vacancy
−$17.5K −$0.94/SF
EGI
$283.8K $15.26/SF
− OpEx
−$127.7K −$6.87/SF
NOI
$156.1K $8.39/SF
Area
Fayetteville, NC
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,122,280
Cap Rate 7%
$2,230,200
Cap Rate 9%
$1,734,600
Alternative Uses
Best Use
Apartment 5plus
$2.23M
$1.95M – $2.60M
NOI $156,114 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,339 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 28304, NC
37,120
Population
16,424
Households
2.3
Avg Household Size
37
Median Age
25%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
2,133
Density / Sq Mi
$57,867
Median Household Income
$35,907
Median Earnings
$1,218
Median Rent
$154,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Six-building multifamily property in Fayetteville with MR5 zoning.
Where is this apartment building located?
The property is located at 1043 Rulnick Street Fayetteville, NC.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 24 apartment units across six buildings; MR5 zoning; Built in 1969
