About
About Emerald Lake
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 132-unit Emerald Lake apartment community located in Elizabeth City, NC. Built in 1999, Emerald Lake offers an outstanding opportunity to invest in a very stable asset with significant growth potential. The unique Elizabeth City market presents positive demographics and multifamily growth attributes, including a 52% white collar population and sustained 96%+ historical and projected occupancy levels. The property’s proximity to major coastal attractions and economic drivers, such as the Outer Banks and Naval Base Norfolk, the largest Navy base in the world, provides a healthy and growing economy in the region. Through the completion of the renovation program, where renovated units are achieving $104+ premiums over classic units, incoming investors can increase annual revenue by 22%+.
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