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
Unit Type Size Rent
Condos - 19 Units 2 BD / 2 BA 1,000 SF $1,157 AVG
House - 1609 2 BD / 1 BA 1,640 SF $1,750
House - 1613 4 BD / 3 BA 1,660 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
Utilities PAID BY TENANTS, OWNER PAYS DUMPSTER AND AREA LIGHT
Legal Description SEE ADDRESS EXHIBIT
Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER
Sold Date 2017-11-30

Location Map

21 UNITS NEAR NC STATE
Address: 1611 Collegeview Ave, Raleigh, NC 27606, USA Price: $ 2,300,000 Unit: 21