$995,000

About this home

AUCTION - Selling at Public Auction-CASH- AS-IS. List price is BPO and not asking price. Rare opportunity to acquire Pine Forest Apartments, a well-maintained 13-unit multifamily investment property generating $132,060 in annual gross rental income with immediate cash flow and significant upside. Family owned and professionally managed for more than 70 years, this historic brick building features stable occupancy, long-term tenants, and zero delinquency. One vacant unit is ready for lease, providing immediate income growth potential. Investors will appreciate the opportunity to increase rents over time, add up to five additional units (subject to applicable approvals), or explore future condominium conversion. Originally constructed in the early 1930s, the building offers exceptional quality rarely found today, featuring approximately 13,650 square feet of solid masonry construction with 2-foot-thick brick walls, steel I-beam framing, concrete floor construction for outstanding sound attenuation, 9-foot ceilings, hardwood and marble flooring, and distinctive floor plans throughout. Property Features: 13-unit apartment building (7 two-bedroom units, 5 one-bedroom units, 1 studio) Approx. 13,650 square feet Dimensional shingle roof installed in 2021 Commercial Peerless boiler system Commercial natural gas hot water system Hardwired smoke/fire detection with battery backup Electrical wiring installed in conduit On-site coin-operated laundry with room for expansion Tenants pay electric and internet. Owner pays heat, water/sewer, trash service, and lawn maintenance. Ideally located near Barton College, schools, shopping, medical facilities, and major highways including I-95, US-264, and I-795. Wilson continues to experience strong economic growth driven by advanced manufacturing, life sciences, and more than $300 million in planned mixed-use development surrounding the city's new downtown sports and entertainment district. Whether you're seeking a stable income-producing investment, a value-add multifamily opportunity, or a long-term redevelopment play, Pine Forest Apartments offers an exceptional combination of historic character, dependable cash flow, and future appreciation potential. Property Information Package, rent roll, leases, survey, and additional due diligence materials are available upon request.

Property details

MLS #

10184331

Property type

Multi Family

Subdivision

N/A

Status

Active

Days on market

9

On market date

August 17, 2026

Stories

N/A

Garage spaces

N/A

Lot size

2.42 acres

Nearby schools

Within 10 miles · public school directory data (NCES)