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130 Fairway Ave Southern Pines, NC 28387

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For Sale
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38 Studio Units, Prime Southern Pines Location

Property size:
13,300 SF

Property Features for 130 Fairway Ave

General Information

Property type
Multifamily properties
Square Feet
13,300 SF
Lot Size
212,573 SF

Building Details

Year Built
1973
Stories
1
Units
38

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Listing Contact
George Manley
George Manley

Listing Agency: Carolina Summit Group, LLC Listing Agent: George Manley

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional investment opportunity presents a portfolio of 38 fully occupied studio residences situated on a 4.88-acre lot in Southern Pines, North Carolina. Located at 130 Fairway Ave, this property offers a compelling 7.00% cap rate and boasts a 100% occupancy rate. The portfolio, priced at $3,650,000 ($96,052.63 per unit), comprises a controlling interest in the Hyland Hills Motor Lodge Homeowners Association. The 13,300 square foot property, built in 1973, is zoned RM-1 (Residential Single & Multi-Family), with a portion situated in the Urban Transition Highway Corridor, providing significant development potential. Each studio residence features a private outdoor patio, enhancing rental appeal. The property's prime location, just off US Highway 1 and adjacent to the prestigious Hyland Hills Golf Club (designed by Michael Gleason and Tom Jackson), ensures high demand and strong rental income. Minutes from downtown Southern Pines, residents enjoy convenient access to local amenities. This single-story complex represents a rare chance to acquire a well-performing, high-occupancy multifamily investment in a thriving market with strong demand for affordable rental housing. The property's history as short-term rentals, later converted to studio residences, adds to its unique investment appeal. This is a turnkey investment ready to generate immediate income. The property's multiple APNs reflect its unique ownership structure within the larger community.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Highland Hills HOA Apartment Building

Suggested Use

Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Department Store Garden Center Cafe & Coffee Shop Veterinary Clinic Bed & Breakfast

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Southern Pines
County
Moore
State
North Carolina
Longitude
-79.3430041
Latitude
35.2055689

FAQs

What type of property is this?
Multifamily property - 38 Studio Units, Prime Southern Pines Location
Where is this multifamily property located?
The property is located at 130 Fairway Ave Southern Pines, NC.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 38 fully occupied studio residences on a 4.88-acre lot in Southern Pines, NC.; 7.00% cap rate and 100% occupancy.; $3,650,000 asking price ($96,052.63 per unit).
(910) 603-8395 Call to check price and availability
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