32 UNITS IN FAYETTEVILLE, NC

[Pages:2]32 UNITS IN FAYETTEVILLE, NC

Price: Status: Address:

Agent:

$ 800,000

SOLD

2105 Grand Prix Dr, Fayetteville, NC 28303

Steve Deaton steve@ 919-847-1117

OVERVIEW

SOLD 2/23/17 FOR $800,000

Rehab and value-add opportunity. This property consists of 32, 2 BD/1.5 BA units spread over six buildings. Three buildings feature brick and vinyl exteriors. The other three buildings have wood and brick exteriors. All of the units are two-story, town homes with electric heat pumps.

The property is in need of capital improvements and is currently operating below market potential. Approximately 14 units are vacant and some need significant repairs.

However, the property is positioned to realize significant gains to revenue and NOI through a hands-on management strategy combined with renovations, repairs and improvements.

UNIT INFORMATION

Unit 32 UNITS

Type 2 BD / 1.5 BA

Size 960 SF/UNIT

Lease

Rent

SEE RENT ROLL CURRENTLY $550/MO

PROPERTY INFORMATION

Pin Taxes Year Built Floors HVAC

Utilities

0419-50-7830

Tax Value

$14,492.80

Lot Size

1972

Exterior

CARPET, VINYL, TILE Foundation

HEAT PUMP, CENTRAL AIR

Owner Financing

OWNER PAYS WATER (APRX. $1,050/MO), DUMPSTER (APRX. $450/MO) AND AREA LIGHTS (TBD)

Appliances

Legal Description Sold Date

PENDING SUBDIVISION

02/23/2017

LOCATION MAP

Zoning

$1,097,700

APPRX. 3.16 ACRES

BRICK, VINYL, WOOD

SLAB

NONE

RANGE, REFRIGERATOR, W/D CONNECTIONS (DRYER CONNECTIONS DO NOT INCLUDE A VENT)

MR5

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