100% occupied - MF Investment Sale - New Leases In Place

Multi-Family for Sale
Catylist Listing ID: 30552751
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Mobile Home Park
Number of Units: 6 Units
Building Size (RSF): 5,103 SF
Gross Building Area: See Agent
Gross Land Area: 0.82 Acres
Sale Price: $520,000
Unit Price: $86,666.67 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/18/2020

Overview / Comments

Entry Level - Multi Unit - Residential Investment Opportunity in Leland. Great for a first time or seasoned investor to add or start an investment portfolio that will only get stronger over time.

Cumulative total of 6 - Two Bedroom Units, Two have one Bathroom Four have Two bathrooms
1 - Manufactured Home (2 Bed 1 Bath)
1 - Stick Built Home (2bed 1 Bath)
2 -Brick Duplexes (4 Units 2bed 2Bath)

All Leases have been resigned for another year of Tenancy. 100% occupancy.

This property is walking distance to Food Lion, Piggly Wiggly and other Village Road shopping and employment opportunities in Down Town Leland.

This is strong entry level investment or a solid acquisition for long term experienced residential landlords.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $3,625 (Annual)
Potential Rental Income $49,425 (Annual)
Gross Operating Income $49,425 (Annual)
Net Operating Income $38,534 (Annual)
Actual or Proforma Year Actual
Lender Name None
Amortization Period 0

Additional Details

Nearest MSA: Myrtle Beach-Conway-North Myrtle Beach
County: Brunswick
Tax ID/APN: 000-000-000-0000
Zoning: T40
Percent Occupied: 100%
Highway Access: Village Road to Highway 74/17
Airports: ILM
Site Description: Two Abutting Tracts with rental units
Area Description: Leland Downtown area
Property Condition: Average
Number of Stories: 1
Roof Type: Gable
Parking Type: Surface
Parking Description: Parking for the units is located directly in front of the units.
Zoning Description: T-40 & T-3
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,176 13,454 48,467
Median Age: 35.59 39.68 38.35
Households: 1,675 5,592 21,201
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