2623 Pine Springs Dr

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2623 Pine Springs Dr

Fayetteville, NC 28306
Asking Price
$3.50M
Asset Type
Multifamily
Class
Class B

What's Special

2623 Pine Springs Drive is located in the western portion of Fayetteville, North Carolina, situated within a primarily residential neighborhood. The property benefits from its proximity to major local thoroughfares, providing straightforward access to the All American Expressway and the broader Cape Fayetteville region. Residents are within a short drive of diverse retail centers, grocery options, and dining establishments concentrated along the nearby Raeford Road corridor. Additionally, the asset is positioned near several public parks and local schools, offering established neighborhood infrastructure. As a multifamily asset, this location is suitable for long-term rental housing or workforce accommodation. Typical tenant profiles include personnel associated with the nearby Fort Liberty military installation and healthcare professionals working at the Cape Fear Valley Medical Center. The property is well-suited for households seeking a residential environment with manageable commute times to the city's primary employment hubs. The surrounding demographic trends and access to suburban amenities support stable occupancy for traditional apartment or multi-unit residential use.

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NOI
$80,000
Cap Rate
2.29%
DSCR
0.38
Underwater
Cash-on-Cash
-12.17%
Monthly Payment
$17,316.09
Annual Cash Flow
$-127,793.084

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