7 Unit Residential Rental Investment Package $74,200/Unit 11 CAP

Multi-Family for Sale
Catylist Listing ID: 30073274
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 7 Units
Building Size (RSF): 7,899 SF
Gross Building Area: See Agent
Gross Land Area: 0.33 - 0.66 Acres
Sale Price: $519,400
Unit Price: $74,200 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Other
Cap Rate: 11.0%
Average Occupancy Rate: 100
Last Updated: 10/30/2017

Overview / Comments

Great investment opportunity to purchase this group of residential rental properties yielding over an 11% Cap Rate.

Properties include two duplexes and three single family residences. All are leased with tenants who would like to continue.

Property List:
-3706/3708 Prices Ln, +/-2,400sf duplex, 3 beds, 2.5 baths each side
-Newer HVAC
-3712/3714 Prices Ln, +/-2,273sf duplex, 3 beds, 2 baths each side
-Newer HVAC
-1902 Colwell Ave, +/-1,275sf SFR, 2 beds, 2 baths
-1410 Wooster St, +/-750sf SFR, 2 beds, 1 bath
-221 N 31st St, +/-1,200sf SFR, 3 beds, 1 bath

Please do not disturb the tenants, contact listing agent to make showing arrangements

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R04909007012000, R04909007011000, R05411008015000, R05410026015000, R04913018038000
Zoning: R-5,
Percent Occupied: 100%
Property Located Between: Cae Fear River and Kerr Ave
Airports: ILM
Total Number of Buildings: 5
Property Condition: Fair
Roof Type: Gable
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Package Unit, Other
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,409 73,502 126,685
Median Age: 27.7 34.13 36.24
Households: 6,013 31,961 54,265

Contact

Photograph of Listing Agent

Eric Knight

Nest Realty NCCMLS Member
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