Great Investment Opportunity - 7% CAP Rate

Multi-Family for Sale
Catylist Listing ID: 30523846
Property Subtypes: Duplex/Fourplex
Number of Units: 2 Units
Building Size (RSF): 2,400 SF
Gross Building Area: See Agent
Gross Land Area: 11,250 SF
Sale Price: $199,000
Unit Price: $99,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller, Owner Financing, Other
Cap Rate: Undisclosed
Vacation Rental Income: Yes
Last Updated: 1/14/2020

Overview / Comments

Great Income Producing Property! Sold Fully furnished and Ready to Rent! 8-10% Return on Investment. The Historic Crutchfield House is in a great convenient location in Downtown Whiteville. Within 5 blocks you can walk to many restaurants, a museum, a Gym, a Spa & Vineland Station. Columbus Regional Hospital is just a 5 minute drive. We have many beaches within 50 miles. Originally built in 1910, it has been remodeled to accommodate 2 separate income producing apartments each with a full kitchen. If you wish for it to be one grand house again, it can easily be restored to original or you can live in one story and rent the other floor. Rental income was $18,165 in 2018 and $16,150 in 2019 through Oct! At this low price and high ROI, house is being sold AS IS.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $1,225 (Annual)
Potential Rental Income $18,165 (Annual)
Net Operating Income $15,000 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Wilmington
County: Columbus
Taxing Authority: Columbus County
Tax ID/APN: 00001600
Zoning: RES
Percent Occupied: 100%
Airports: Columbus Co Airport
Property Condition: Fair
Number of Stories: 2
Year Built: 1910
Roof Type: Gable
Construction/Siding: Wood Frame
Exterior Description: Stately Southern Home
Parking Type: Surface
Parking Description: Dirt; Lighted; Off Street; Unpaved
Total Parking Spaces: 4
Laundry: In Each Unit
Heat Type: Electricity, Propane
Heat Source: Wall Units, Other
Air Conditioning: Window Unit
Internet Access: Fiber Optic
Lot Frontage: 75
Lot Depth: 150
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOT#1 BLK 3 / / JOHN FISHER

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,614 6,563 14,803
Median Age: 38 41.47 40.75
Households: 1,603 2,715 5,796
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