$1,075,000
$1,200,000
10.4%For more information regarding the value of a property, please contact us for a free consultation.
40 Beds
20 Baths
14,401 SqFt
SOLD DATE : 07/30/2020
Key Details
Sold Price $1,075,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 14,401 sqft
Price per Sqft $74
Subdivision Jenkins Heights
MLS Listing ID 3576925
Sold Date 07/30/20
Bedrooms 40
Full Baths 20
Year Built 1984
Lot Size 1.610 Acres
Acres 1.61
Lot Dimensions 48,787 SQFT
Property Description
8 CAP (estimate) CASH FLOWING 100% Occupancy Turnkey Apartments: Corner lot, UPDATED = Bathrooms, flooring, new paint, appliances, etc. Most tenants on annual leases upon move-in. 2 Dumpsters onsite, storage room, mail station, guest parking area.
*** ESTIMATES (DO YOUR RESEARCH TO VERIFY #'S)
Gross Income=14,000/mo about 168,000/year
Utilities=16,000 (Water, sewer, parking lights)
Taxes=7,400 ($4,903 (845 Buildings/Acres: 1.12 = 2,704sqft) + $2,299 (881 Buildings/Acres: 0.49 = 1,578sqft) = 7,202)
Ins=5,000
Main=20,000
NOI = 119,600/ 1.4 M = 8% CAP estimation
*** VERIFY MEASUREMENTS WHILE PROFESSIONAL MEASUREMENTS PENDING ***
2 Parcel ID's = 137509 & 137508
Leases = 7 out of 20 are on MTM currently from their annual lease expiring (1 corp unit currently for showings till Move-In & pending renewals w/ rental increase requests. Other 13 are on Annual leases.
Location
State NC
County Gaston
Interior
Heating Baseboard, Gas Hot Air Furnace
Flooring Carpet, Vinyl
Fireplace false
Appliance Ceiling Fan(s), CO Detector, Electric Dryer Hookup, Electric Range, Exhaust Fan, Gas Range, Refrigerator, Dual Flush Toilets, Electric Oven, Gas Oven
Exterior
Exterior Feature Lawn Maintenance
Community Features Street Lights
Parking Type Parking Lot
Building
Lot Description Corner Lot
Building Description Brick Partial, Apartments
Foundation Crawl Space, Slab
Sewer Public Sewer
Water Public
Structure Type Brick Partial
New Construction false
Schools
Elementary Schools Unspecified
Middle Schools Unspecified
High Schools Unspecified
Others
Special Listing Condition Subject to Lease
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