Renovated Multifamily Apartment
1133 Berkshire Rd Fayetteville, NC 28304
1133 Berkshire Rd, Fayetteville, NC, 28304
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For Sale
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Renovated 33-unit apartment building with 2 bed, 1 bath units featuring washer/dryer hookups and central heating and cooling.
Property Size27,700 SF
Price / SF$137.18
Days on Market105
Property Features for 1133 Berkshire Rd
General Information
- Standard status
- Active
- Size
- 27,700 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1972
Listing agency
Franklin Johnson Commercial Real Estate
Listed by
Michael Paschal · License #NC
Source
Crexi
Added: Apr 9 Updated: Jul 20 at 8:53PM Checked: Jul 21 at 8:18AM
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 Franklin Johnson Commercial Real Estate
Investment Insights
Based on property information with market context.
This renovated multifamily apartment building contains 33 units, each configured as a 2-bedroom, 1-bath apartment with washer and dryer hookups. Storage is available at the rear, and all units include central heating and cooling.
The majority of units were totally remodeled within the last two years, including HVAC, flooring, paint, countertops, cabinetry, and updated bathroom fixtures. The property is located off Owen Drive and near Raeford Road.
Set in the Glendale Subdivision, the building is described as being less than one mile from Cape Fear Valley Medical Center and the new Methodist University Cape Fear Valley Health School of Medicine.
The majority of units were totally remodeled within the last two years, including HVAC, flooring, paint, countertops, cabinetry, and updated bathroom fixtures. The property is located off Owen Drive and near Raeford Road.
Set in the Glendale Subdivision, the building is described as being less than one mile from Cape Fear Valley Medical Center and the new Methodist University Cape Fear Valley Health School of Medicine.
Key Highlights
- Renovated 33‑unit apartment building with all units featuring 2 bedrooms and 1 bath
- Each unit has washer/dryer hookups, storage area at the rear, and central heating and cooling
- Most units were totally remodeled within the last two years with HVAC, flooring, paint, countertops, cabinetry, and updated bathroom fixtures
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $448.7k | $16.20 |
| − Vacancy | −$26.0k | −$0.94 |
| EGI | $422.7k | $15.26 |
| − OpEx | −$190.2k | −$6.87 |
| NOI | $232.5k | $8.39 |
27,700 SF · lease $16.20/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.32M
$2.91M – $3.87M
NOI $232,492 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.07M
$5.31M – $7.08M
NOI $424,940 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Renovated 33-unit apartment building with 2 bed, 1 bath units featuring washer/dryer hookups and central heating and cooling.
Where is this apartment building located?
The property is located at 1133 Berkshire Rd Fayetteville, NC.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Renovated 33‑unit apartment building with all units featuring 2 bedrooms and 1 bath; Each unit has washer/dryer hookups, storage area at the rear, and central heating and cooling; Most units were totally remodeled within the last two years with HVAC, flooring, paint, countertops, cabinetry, and updated bathroom fixtures
