Buy a Multi-Family Property

48 Units in New Bern

Print this Property

Address

1728 Racetrack Road
New Bern, NC 28562

Overview

Hunters Landing apartments are located, less than a mile from the intersection of HWY-70 and Glenburnie Road. The community is spread over 4.69 acres and features 48 units divided evenly among six buildings. Built in 1997, the property is subject to income and rent restrictions until December of 2027 as regulated by the Low Income Housing Tax Credit (LIHTC) Restrictive Covenants. To qualify, a resident's income is restricted to 60% or less of the median income for Craven County (approx. $32,460/year for a four-person household).

  • 48 units built in 1997
  • Vinyl exteriors on slab
  • Mix of one-, two- and three-bedroom units
  • Subject to LIHTC Restrictive Covenants
  • Potential gross monthly rents = $24,000+

Link to Tax Records


Unit Information

UnitSizeTypeLeaseRent
12 UNITS 816 SF 2 BD/2 BA RENT ROLL $510 MKT
12 UNITS 997 SF 3 BD/2 BA RENT ROLL $570 MKT
16 UNITS 728 SF 2 BD/1 BA RENT ROLL $495 MKT
8 UNITS 564 SF 1 BD/1 BA RENT ROLL $425 MKT

Property Information

PIN
8-240-055
Tax Value
$2,112,100
Taxes
$20,562.54
Lot Size
4.69 ACRES
Year Built
1997
Exterior
VINYL
Floors
CARPET, VINYL
Foundation
SLAB
HVAC
CENTRAL AIR, GAS FORCED AIR HEAT
Insurance
$15,700
Utilities
TENANTS PAY WATER, GAS AND ELECTRIC / OWNER PAYS AREA LIGHTS, DUMPSTER, WATER AND ELECTRIC FOR LAUNDRY
Appliances
RANGE, REFRIGERATOR, DISHWASHER, (W/D CONNECTIONS IN SOME UNITS)
Legal Description
TR2 MARK S HINES ELSIE H WILLIAMS SURV
Zoning
MULTIFAMILY

Back to top