Purpose-Built Student Housing
615 South Kerr Avenue, Wilmington, NC 28403
For Sale
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48-unit student housing near UNCW with 3-bedroom, 3-bath layouts and surface parking.
Property Size34,368 SF
Price / SF$344.58
Days on Market156
Property Features for 615 South Kerr Avenue
General Information
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Listing Agency:
Maus, Warwick, Matthews & Company
Listed By:
Luke Tippett · License NC #347103
(910) 264-3472
Source:
Crexi
Added: Jun 10
Changed: Nov 5
Last Checked: Nov 12 at 8:27AM
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 Maus, Warwick, Matthews & Company
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Investment Insights
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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.
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.
Key Highlights
- 48‑unit (144‑bed) purpose‑built student housing community with 3BR/3BA floor plans
- Phase I built in 2017 and Phase II completed in 2023
- Listed at an in‑place 6% cap based on trailing 12‑month performance (Mar 2025–Feb 2026)
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Location Intelligence
Trade Area within ½ mile
836
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Demographics for 28403, NC
38,134
Population
20,424
Households
1.9
Avg Household Size
30
Median Age
48%
College-Educated
94%
High-School Grad
14.0 sq mi
ZIP Area
2,724
Density / Sq Mi
$50,988
Median Household Income
$30,991
Median Earnings
$1,293
Median Rent
$337,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Apartment building - 48-unit student housing near UNCW with 3-bedroom, 3-bath layouts and surface parking.
Where is this apartment building located?
The property is located at 615 South Kerr Avenue Wilmington, NC.
What is the asking price?
The asking price for this property is $11,842,500.
What are key features of this property?
This property features: 48‑unit (144‑bed) purpose‑built student housing community with 3BR/3BA floor plans; Phase I built in 2017 and Phase II completed in 2023; Listed at an in‑place 6% cap based on trailing 12‑month performance (Mar 2025–Feb 2026)
