Investment Opportunity | Greenville, NC

Multi-Family for Sale
Catylist Listing ID: 30785795
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,820 SF
Gross Building Area: See Agent
Sale Price: $795,000
Unit Price: $198,750 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Average Occupancy Rate: 100
Last Updated: 5/25/2022

Overview / Comments

This excellent 1031 exchange opportunity is located in the ever-popular submarket near East Carolina University known as "the Grid" and consists primarily of SFRs with a student rental population. The neighborhood abuts downtown Greenville, a CBD experiencing rapid growth and development. Very rarely does an opportunity to acquire several single-family leased properties in one transaction occur in this stable neighborhood. The properties provide immediate, stable rental income with significant upside. This offering provides qualified buyers the opportunity to own high-demand rental properties in a sought-after neighborhood.

Interior inspections shall be a contingency of an accepted offer.

107 Stancill A & B
Renovated in 2016, the unit interior only includes hardwood and tile floors that were sanded and refinished in 2018. Stainless steel appliances new countertops, and hardwood floors make this the perfect rental for the area students. Painted with the ever-popular light gray walls with white trim, the sales presentation of the property is top-notch in this college setting. The landscaping has a mid century modern feel with lots of greens including boxwoods, yews, and muhly grasses. New roofs and fascia boards wrap the exterior.

109 Stancill A & B
Renovated in 2016, this house includes stainless steel appliances, and hardwood floors make this the perfect rental and ensures consistent lease ups. New roofs and fascia boards wrap the exterior and new exterior doors. The landscaping was designed to have blooms throughout most of the year. The yard is full of knock out roses, crepe myrtles, abelias, spring bulbs, and a camellia.

Additional Details

Nearest MSA: Greenville
County: Pitt
Tax ID/APN: 10156, 10162
Zoning: R6
Area Description: North Carolina is known for beautiful beaches, stunning mountain vistas, and many other natural resources that both residents and visitors seek out. Greenville, North Carolina is an ideal location for businesses and residents. About 80 easy miles each to Raleigh and the beautiful beaches of the Crystal Coast, Greenville has emerged as a thriving economic, educational, medical, and cultural hub of eastern North Carolina. The city has surged to become one of the state’s top 10 cities with a population of more than 175,000 residents in the MSA. East Carolina University provides a stable foundation to Greenville's economy with an enrollment of 30,000. This excellent 1031 exchange opportunity is located in the ever-popular submarket near East Carolina University known as "the Grid" and consists primarily of SFRs with a student rental population. Very rarely does an opportunity to acquire several single-family leased properties in one transaction occur in this stable neighborhood.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,707 60,109 96,297
Median Age: 22.26 29.49 30.71
Households: 4,062 24,972 39,622

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