Rocky Mount Apartment Complexes – $2M Package Deal

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30763255
Status: Pending
Number of Units: 53 Units
Building Size (RSF): 41,000 SF
Gross Building Area: See Agent
Sale Price: $2,000,000
Unit Price: $37,735.85 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Rocky Mount Apartment Complexes Package
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 80
Last Updated: 10/20/2021

Overview / Comments

Huge investment opportunity in the centrally located city of Rocky Mount!
Total of 53 individual units from Five different apartment complexes. Addresses are:
500- 520 Sutton Rd has 17 units, an office that can be rented and 11 one car detached garages,1100-1112 Cypress St. has 11 units, 1901 Boone St.
has a total of 15 units total from two different building. 809 Norfolk St. has 2 units and 2021 Vance St. has 8 units.
Package deal currently produces roughly annual Gross income of $208,000. After renovations rents Could easily be adjusted to current market rent rates. Bring paint, roofing and flooring contractors.

Additional Details

Nearest MSA: Rocky Mount
County: Edgecombe
Tax ID/APN: 3759-50-0365,
Zoning: R-6MFA
Percent Occupied: 80%
Total Number of Buildings: 5
Property Condition: Poor
Number of Stories: 1
Roof Type: Other
Construction/Siding: Brick/Vinyl Siding
Exterior Description: See photos and attachments,
Parking Type: Surface
Parking Description: Paved Parking lots
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Gas
Air Conditioning: Package Unit, Window Unit
Internet Access: Cable
Interior Description: In need of updating
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOTS 1-2 LF TILLERY AND JW DAVENPORT S/D 500-510 SUTTON RD LT 7-12 BLK V LF TILLERY S/D 520-550 SUTTON RD LOTS 3-5 BLK V LF TILLERY S/D 2021-2035 VANCE ST LTS 1-2, PT ALLEY, BLK B, HARGROVE ESTATE 7-8 BLK B HARGROVE ESTATE 1100-1110 CYPRESS ST

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,122 33,752 53,889
Median Age: 36.21 40.09 39.64
Households: 2,010 13,722 22,145

Contact

Photograph of Listing Agent

Basil Williams, Sr

Keller Williams Realty NCCMLS Member
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