Calvin 22 (11 Duplexes in Spring Lake)

For Sale

703 Lake Ave, Spring Lake, NC 28390

This Spring Lake property for sale is located at 703 Lake Ave. The current listed sale price for Calvin 22 (11 Duplexes in Spring Lake) is $1,745,000. Calvin 22 (11 Duplexes in Spring Lake) is situated on a lot that is 1.78 acre in size.

Contacts

broker
Steve Hogan

Grant-Murray Real Estate

Property Details

  • Property Type Multi-Family
  • Property Size 13,697 SF
  • Units 22
  • Lot Size 1.78 Acre
  • Year Built 1960
  • Date Updated Jul 10, 2025
The complex sits on a quiet, dead-end street directly bordering Spring Lake Middle School, delivering built-in neighborhood stability and appeal. Spring Lake is a residential-heavy suburb of Fayetteville with a growing population of approximately 11,600 and household income averaging $57,300—well above the median of $50,500. Traffic along nearby Bragg Blvd., just one mile away, registers around 47,000 VPD, indicating strong connectivity and visibility. The proximity to Fort Bragg and local amenities contributes to steady housing demand, making it attractive to tenants and investors alike.This offering comprises 11 updated, adjoining brick duplexes—22 two-bedroom, one-bathroom units—each on its own tax parcel, allowing for a flexible exit strategy or future resale optionality. These low-maintenance units feature durable metal roofing and straightforward layouts, designed for long-term efficiency and investor appeal. Four units require renovation, creating an opportunity to capture built-in equity and increase cash flow. Current market rents between $995 and $1,054 per unit based on comparable assets in the area.
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Highlights

  • 2 ready-to-rent; 4 additional units requiring rehab
  • 22 units in 11 brick duplexes
  • Current rents: $600–$1,000; market: ~$995
  • Income boost potential via full rehab
  • Located next to middle school; strong neighborhood vibe
  • Metal roofs throughout; durable construction

Getting around

  • 53/100

    Walk Score ®

  • 40/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Spring Lake, NC
  • Neighborhood Spring Lake
  • Zip Code 28390

Points of Interest

  • Fayetteville

    9.07 miles

  • Circle K

    0.45 miles

  • Amoco

    0.77 miles

  • Sunoco

    1.94 miles

  • Shell

    2.89 miles

  • BP

    5.47 miles

  • Murphy USA

    5.78 miles

  • Sam's Club

    5.82 miles

  • Sandhills Access Parking

    4.11 miles

  • Parking Deck

    9.36 miles

  • Courtyard Fayetteville Fort Bragg/Spring Lake

    0.27 miles

  • Gateway Inn & Suites

    0.38 miles

  • Super 8 by Wyndham Spring Lake/ Fort Bragg;

    0.50 miles

  • Landmark Inn

    0.92 miles

  • Hampton Inn Spring Lake-Fayetteville

    1.08 miles

  • Sleep Inn & Suites Near Ft. Bragg

    1.09 miles

  • Country Inn & Suites

    1.14 miles

  • IHG Army Hotels in Forrestal Hall & Delmont House

    3.16 miles

  • Airborne Inn Lodging

    3.20 miles

  • Everhome Suites

    3.96 miles

  • Walmart Supercenter

    0.45 miles

  • Ft Bragg North Commissary

    0.84 miles

  • North Post Commissary

    0.84 miles

  • North Post Exchange

    0.96 miles

  • Compare Foods

    1.40 miles

  • Food Lion

    4.63 miles

  • Sun Asian Supermarket

    5.44 miles

  • Atomy

    5.53 miles

  • ALDI

    5.59 miles

  • Burlington

    6.38 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Steve Hogan

Grant-Murray Real Estate

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