3207 Briggs Street

Description

Investment Summary 3207 Briggs Street presents a rare opportunity to acquire a six-unit, value-add multifamily asset in the heart of Kill Devil Hills, one of the Outer Banks' strongest rental markets. The property consists of a two-story, approximately 3,558-square-foot building with six residential units and includes the adjacent parcel (Lot 8, Parcel #000022000), providing additional value and future flexibility. The current ownership has maintained consistent occupancy; however, existing rental rates remain below prevailing market levels. Investors have a clear opportunity to execute a value-add strategy through interior renovations, exterior improvements, and operational efficiencies designed to reposition the asset and drive meaningful increases in net operating income. The property's commercial zoning provides flexibility for future ownership strategies while preserving its established multi-family use. Situated just minutes from the Atlantic Ocean, major employers, retail, dining, and year-round amenities, the asset benefits from a highly desirable location with strong rental demand and limited multifamily inventory. Investment Highlights; Six-unit multifamily asset in the center of Kill Devil Hills. Commercial zoning with established residential use. Below-market in-place rents provide immediate income growth potential. Value-add renovation opportunity to increase rental revenue and overall asset value. Adjacent parcel included (Lot 8, Parcel #000022000), offering additional flexibility and long-term potential. Excellent coastal location near beaches, employment centers, shopping, and restaurants.Opportunity to enhance cash flow, increase NOI, and create substantial equity through strategic capital improvements and professional asset management. This offering represents an opportunity to acquire a well-located, income-producing asset with significant upside through thoughtful repositioning in one of North Carolina's most sought-after coastal markets.