$1,150,000
$1,250,000
8.0%For more information regarding the value of a property, please contact us for a free consultation.
26 Beds
24 Baths
12,000 SqFt
SOLD DATE : 08/16/2019
Key Details
Sold Price $1,150,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,000 sqft
Price per Sqft $95
MLS Listing ID 3473220
Sold Date 08/16/19
Bedrooms 26
Full Baths 24
Year Built 2005
Lot Size 1.520 Acres
Acres 1.52
Property Description
Income opportunity attracting professionals w/high efficiency & extremely well maintained (like-new), 3 bldg./12-unit homes in prime rental corridor next to hospital & ECU School of Dentistry. Located in one of the most desirable neighborhoods, Eleven 2BD/2BA w/Master suite, two 3BD/2BA, high ceilings, front & rear porch, ramp accessibility on 1st floor & perfect floor plans. 27 pk. spaces, room for equip. bldg./office. 100% occupancy at all times! Current CAP = 8% (T-12= 7%). Excellent upside (CAP= 10%) potential/value-add opportunity for increased rents/NOI, w/no capital expenditures or updates needed (current rents= $200+ below market rate). Strong demographics & high quality employment opportunities. Rising rental pressure in growing town. Next to schools, shopping & employment- 5 min. to all major employers. Additional 4.15 acres on same street = further development w/water & sewer tap already purchased ($78,000; MLS#: 3451543).20 min.- I-40, 50 min.- Asheville, 2hr.- Charlotte.
Location
State NC
County Mitchell
Interior
Heating Central
Flooring Carpet
Appliance Cable Prewire, Dishwasher, Dryer, Refrigerator, Washer
Exterior
Parking Type Parking Lot, Parking Space - 2
Total Parking Spaces 30
Building
Lot Description City View, Green Area, Level, Long Range View, Mountain View, Paved, Sloped, Views, Year Round View
Building Description Vinyl Siding, Apartments
Foundation Crawl Space
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction false
Schools
Elementary Schools Greenlee Primary
Middle Schools Harris
High Schools Mitchell
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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© 2024 Listings courtesy of Canopy MLS as distributed by MLS GRID. All Rights Reserved.
Bought with David Begley • GreyBeard Realty