Abbotts Run

Posted: 10/7/2019
264 Units
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Abbotts Run
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Abbotts Run
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Abbotts Run
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Abbotts Run
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Abbotts Run
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Abbotts Run
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Abbotts Run
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Abbotts Run
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Abbotts Run
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Abbotts Run
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Abbotts Run
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Abbotts Run

About

About Abbotts Run

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit, Abbotts Run apartment community located in Wilmington, North Carolina. This asset is positioned in a highly-educated, affluent demographic region between UNCWilmington, The Port of Wilmington, and Wilmington International Airport with immediate access to the Coastal City’s major roadways. Delivered in 2002, Abbotts Run recently received a $3.5 million capital infusion which included common area renovations, a state-of-the-art clubhouse, and unit interior upgrades. Since completion in April 2016, this targeted initiative has proven to see a 38% increase in rental rates. Despite this impressive growth, the market indicates there is an opportunity for a value add 2.0 program as average rental rates trail comparable properties by $280, resulting in a potential to boost annual NOI by 14%.