21 UNITS NEAR NC STATE

Price:

$2,300,000

Status:

Sold

Address:

1611 Collegeview Ave, Raleigh, NC 27606, USA

Overview:

SOLD 11/30/17 FOR $2,300,000

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. Current gross monthly rent is $22,735. Based on comparable properties, rents could be pushed over $25,000 per month.

The listing includes a .45 acre lot at 1612 Collegeview Avenue.

Unit Information

UnitTypeSizeRent
Condos - 19 Units2 BD / 2 BA1,000 SF$1,157 AVG
House - 16092 BD / 1 BA1,640 SF$1,750
House - 16134 BD / 3 BA1,660 SF$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
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
Sold Date 11/30/2017