Brick Multifamily Apartment
For Sale
Contact for pricing
1313 Morningside Dr, Kinston, NC 28501
56-unit, full-brick apartment complex with extensive flood and water damage, including a dedicated laundry building.
Property SizeContact for details
Days on Market119
Property Features for 1313 Morningside Dr
General Information
Standard status
Active
Property subtype
Multifamily
Listing Agency:
Williams & Williams Auctioneers
Listed By:
Cynthia Dees · License #129912
Source:
Crexi
Added: Apr 12
Changed: Aug 8
Last Checked: Jul 22 at 12:24AM
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 Williams & Williams Auctioneers
Investment Insights
Based on property information with market context.
This 56-unit, full-brick multifamily apartment property was built in 1968 and is currently non-operational and in need of rehab. The building consists of 2-bedroom units throughout, supported by a dedicated laundry building. The property has experienced flooding with extensive water damage; however, a new roof was installed approximately three years ago.
The offering is being sold via public real estate auction with sale terms indicating it sells without reserve and there will be no property inspection available for bidders. Prior to closure, the property was reported as 82.14% rented, with approximately $12,127.78 in taxes, $117,026.37 in annual expenses, and $202,274.59 in annual gross income.
The multifamily asset totals approximately 55,944+/- square feet and sits on an approximately 3.63-acre lot. The address is 1313 Morningside Dr, Kinston, NC 28504.
The offering is being sold via public real estate auction with sale terms indicating it sells without reserve and there will be no property inspection available for bidders. Prior to closure, the property was reported as 82.14% rented, with approximately $12,127.78 in taxes, $117,026.37 in annual expenses, and $202,274.59 in annual gross income.
The multifamily asset totals approximately 55,944+/- square feet and sits on an approximately 3.63-acre lot. The address is 1313 Morningside Dr, Kinston, NC 28504.
Key Highlights
- 56‑unit full‑brick multifamily apartment complex in Kinston, NC at 1313 Morningside Drive
- All units are 2‑bedroom units, plus a dedicated laundry building
- Non‑operational and in need of rehab, with extensive water damage reported after flooding
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
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Business Placement
Demographics for 28501, NC
17,964
Population
9,896
Households
1.8
Avg Household Size
43
Median Age
13%
College-Educated
80%
High-School Grad
99.8 sq mi
ZIP Area
180
Density / Sq Mi
$33,823
Median Household Income
$29,518
Median Earnings
$717
Median Rent
$78,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - 56-unit, full-brick apartment complex with extensive flood and water damage, including a dedicated laundry building.
Where is this apartment building located?
The property is located at 1313 Morningside Dr Kinston, NC.
What are key features of this property?
This property features: 56‑unit full‑brick multifamily apartment complex in Kinston, NC at 1313 Morningside Drive; All units are 2‑bedroom units, plus a dedicated laundry building; Non‑operational and in need of rehab, with extensive water damage reported after flooding
