Buy a Multi-Family Property

21 UNITS NEAR NC STATE

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Address

1611 Collegeview Avenue
Raleigh, NC 27606

Overview

This property offers an investor the chance to acquire a well-located asset that was recently renovated. Located on the southern edge of NC State University, the property is a short walk to campus and about two miles from downtown Raleigh.

There are 19, 2 BD/2 BA condos and two houses, totaling 21 units. The property is just reaching the point of stabilization now that renovations are complete. Based on comparable properties, rents could be pushed over $25,000 per month.  

The listing includes a .45 acre lot at 1612 Collegeview Avenue (see survey in links below). 


Unit Information

UnitSizeTypeCurrent RentPotential Rent
Condos - 19 Units 1,000 SF 2 BD/2 BA $1,005 AVG $1,157 AVG
House - 1609 1,640 SF 2 BD/1 BA $1,750 $1,750
House - 1613 1,660 SF 4 BD/3 BA $1,595 $1,650

Property Information

PIN
SEE ADDRESS EXHIBIT
Tax Value
$1,486,143
Taxes
$15,641.80
Lot Size
APPRX. 2 ACRES
Year Built
1988, 1959, 1957
Exterior
VINYL, BRICK, WOOD
Floors
CARPET, LAMINATE, HARDWOOD
HVAC
CENTRAL AIR, HEAT PUMP
Owner Financing
NONE
Utilities
PAID BY TENANTS, OWNER PAYS DUMPSTER AND AREA LIGHT
Appliances
RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER
Legal Description
SEE ADDRESS EXHIBIT