Preserve at Pine Valley_Property for Sale
Preserve at Pine Valley_Property for Sale
3314 Wickslow Rd, Wilmington, NC, 28412-0943, US

Preserve at Pine Valley

Asset Description

Jones Lang LaSalle, a North Carolina licensed real estate broker (“JLL”), has been retained as the exclusive sales representative for The Preserve at Pine Valley, a 1974-vintage asset consisting of 219 units with an attractive unit mix of one-, two- and three-bedroom floorplans. This asset is well positioned in a rapidly growing submarket of Wilmington, just 5 minutes from Downtown Wilmington and close proximity to UNC Wilmington and Wrightsville Beach. The Preserve of Pine Valley offers residents a fully amenitized asset with a newly refinished pool, fitness center, tennis courts and onsite office.

 

Ownership has injected $4 million of capital into the property through enhancements to the pool, common area, interior, and exterior renovations. These improvements will allow for new ownership to immediately benefit from the work that has been done by pushing rents up to market and taking advantage of the growth of the Wilmington MSA.

 

With this asset being strategically located in between Downtown Wilmington, the Port of Wilmington and Wrightsville Beach, the Preserve at Pine Valley is well positioned for new ownership to profit from the capital injection of the current ownership and its premiere location in one of the fastest growing cities in North Carolina.

 

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Attributes

Number of units
219
Year built
1974
Building area net
177,525 sf
Land area gross
15.72 acres

Media

Investment Highlights

  • CAPITALIZATION ON PREVIOUS OWNERS CAP-EX
  • UPSIDE POTENTIAL THROUGH MANAGEMENT INEFFICIENCIES
  • EQUAL DISTANCE TO CRYSTAL COAST AND DOWNTOWN WILMINGTON
  • RENOVATED 70’S PRODUCT WITH REMEDIATED WIRING AND PLUMBING
  • PREMIER LOCATION, OFF COLLEGE STREET NEAR HIGH END RETAIL
Preserve at Pine Valley 4_Property for Sale
Preserve at Pine Valley 4_Property for Sale

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Preserve at Pine Valley (0 Properties)

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Last updated
3 Sep 2024