118 Broadhurst Rd
Jacksonville
28540
About this property
Waterstone Multi-Housing Advisors is pleased to present Osprey Cove North; a 236-unit complex located in Jacksonville, North Carolina. This property was built in 1971 and consists of 14 2-story buildings and 1 1-story building. The property sits on one parcel at 11.59 acres. Osprey cove consists of 72 1-bedroom units averaging 594 sq feet, 40 2-bedroom small units averaging 792 square ft and 124 2-bedroom large units averaging 920 sq feet.
The Jacksonville MSA includes the City of Jacksonville, Camp Lejeune, the town of Swansboro and North Topsail Beach. Jacksonville is home to the United States Marine Corps Camp Lejeune and the New River Air Station. Camp Lejeune is home to over 30,000 active service members. The current population of Jacksonville is slightly north of 73,000 people. The largest industries in the Jacksonville market are Accommodation & Food services, Retail trade and Educational services.
New ownership has the opportunity to turn the remaining 65 classic units over to the standard units. The Classic units have used appliances, used flooring, and minor imperfections. Renovated (Standard) apartments have new flooring, new or newer appliances, new hardware on cabinets, all cabinets are painted white and the tubs are resurfaced. New leases at Osprey Cove are also being charged a $125 amenity fee which includes water, sewer, trash, pest control, high speed Internet, and HD cable. Since current ownership acquired the property in 2021, they have completed north of $622,000 in CapEx improvements. This included replacing a large majority of the refrigerators, HVAC systems, carpet, Hot water heaters, and resurfacing a large portion of the countertops and bathtubs among other things.
Amenities and Features
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