Turnkey 20-Unit Apartment
2322 Indian Drive Jacksonville, NC 28546
For Sale
$2,950,000
Turnkey 20-unit complex with multiple new HVAC systems and a roof about 4 years old, with rents being raised.
Property Size13,040 SF
Price / SF$226.23
Days on Market286
Property Features for 2322 Indian Drive
General Information
- Standard status
- Active
- Size
- 13,040 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1985
Listing Agency:
Real Broker, LLC
(910) 444-1898
Listed By:
Pinpoint Properties
(910) 444-1898
Source:
Xome
Added: Oct 11, 2025
Changed: Jul 23
Last Checked: Jul 23 at 4:08AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
A turnkey 20-unit apartment complex at 2322 Indian Drive in Jacksonville, NC, offered for sale with income already in place. The property is described as well-maintained and updated, including many new HVAC systems and a newer roof that is about 4 years old. Units are reported to have spacious layouts with full kitchens, appliances, and in-unit washers and dryers.
The current rent plan is being adjusted upward to $1,100–$1,250 per unit, with 7 units already leased at the new rates. The seller projects approximately $280,000 per year in income once all leases are adjusted.
As presented in the materials, the complex is intended for straightforward operation, with a professional management team already in place, and the option to manage it yourself to reduce management fees. The remarks also indicate expected cap-rate performance in the 9–10% range as positioned, with additional room for rent increases described as the local market continues to grow.
The current rent plan is being adjusted upward to $1,100–$1,250 per unit, with 7 units already leased at the new rates. The seller projects approximately $280,000 per year in income once all leases are adjusted.
As presented in the materials, the complex is intended for straightforward operation, with a professional management team already in place, and the option to manage it yourself to reduce management fees. The remarks also indicate expected cap-rate performance in the 9–10% range as positioned, with additional room for rent increases described as the local market continues to grow.
Key Highlights
- 20‑unit apartment complex built in 1985 in Jacksonville, NC
- Rents being raised to $1,100–$1,250 per unit; 7 units are already leased at the new rates
- Roof is about 4 years old; property has multiple new HVAC systems
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 | $226.9k | $17.40 |
| − Vacancy | −$11.3k | −$0.87 |
| EGI | $215.6k | $16.53 |
| − OpEx | −$97.0k | −$7.44 |
| NOI | $118.6k | $9.09 |
13,040 SF · lease $17.40/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.98M
NOI $118,553 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,291 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Turnkey 20-unit complex with multiple new HVAC systems and a roof about 4 years old, with rents being raised.
Where is this apartment building located?
The property is located at 2322 Indian Drive Jacksonville, NC.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 20‑unit apartment complex built in 1985 in Jacksonville, NC; Rents being raised to $1,100–$1,250 per unit; 7 units are already leased at the new rates; Roof is about 4 years old; property has multiple new HVAC systems
