01-25-2022
04-25-2022
1800 Canal Dr, Carolina Beach, NC 28428
- Bankruptcy Auction: April 4 Bid Deadline / April 7 Auction
- Minimum Bid: $3.95 Million
- Offers may be considered in advance of auction
- Sale Motion and Bidding Procedures remain subject to Bankruptcy Court approval
- Incredible opportunity to own the Best View on Carolina Beach
- Beach access via short walk down Saltmarsh Lane
- Units boast a spacious, open floor plan with balconies & ocean views
- A short island drive will take you to the scenic white-sand trail at Carolina Beach State Park that leads to a gorgeous overlook of the Cape Fear River.
- Carolina Beach's famous vintage boardwalk with restaurants, bars and shopping located only 2-miles south of the property.
- Historical Fort Fisher, Aquarium, boat launches, and ferry also located nearby.
Property Description
- North Pier Ocean Villas, located at 1800 Canal Drive, Carolina Beach, NC
- Phase I, built in 1985 and consisting of 15-units, requires repair/redevelopment
- Phases II-V, built in 1989-95 and consisting of 27-units (3 being used as office) currently operating as timeshare/short-term rental resort
- Unit Mix: 6 x 1 bed/1bath, 36 x 2 bed/2bath
- Private pool and ample covered parking
- Property to be delivered vacant and free and clear of timeshare interests
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SIGN INKey Property Information
Listing Status
Under Contract
Listing Type
Auction
Multifamily type
Garden Style
Price
$ 8,300,000
No. of Units
42
Cap Rate
0%
Average Occupancy
0%
Year Built
1985
Building Size
32,247 Sq ft
Lot Size
0.77 Sq ft
Zoning Code
R1
No. of Parking Spots
85
Opportunity Zone
Off
Price per unit
$ 197,619