615 South Kerr Avenue, Wilmington, NC 28403

Seahawk Cove is a 48-unit, purpose-built student housing community offering 144 beds in three-bedroom, three-bath floor plans. The property includes modern construction with Phase I built in 2017 and Phase II completed in 2023. Residents have access to surface parking, outdoor recreational amenities, and professionally maintained grounds, including a basketball/sport court. The community’s design is oriented toward student living with spacious floor plans and student-focused residential finishes.

The asset is located at 615, 617, 619, and 623 S. Kerr Avenue in Wilmington, North Carolina, just minutes from the University of North Carolina Wilmington (UNCW). Current occupancy is listed at approximately 87%, and the offering notes an in-place 6% cap rate. The property is positioned near retail and dining, with the remarks citing surrounding businesses including Harris Teeter, Sam’s Club, PT’s Olde Fashioned Grille, and Cook Out, along with other student housing and apartment communities.

For investors or operator-owners seeking a modern, university-oriented multifamily asset, Seahawk Cove provides an existing unit mix tailored to student rental preferences and a history of leasing performance as described in the materials. Management has identified potential NOI opportunities through expense reductions and continued rent optimization, with the listing also referencing projections tied to university demand and pre-leasing activity.