24 UNITS NEAR DUKE

PRICE:
$ 1,300,000
STATUS:
Sold
ADDRESS:
1911 Morehead Ave, Durham, NC 27707, USA
OVERVIEW:

SOLD 2/28/17 FOR $1,300,000.
Price included a $45,000 seller credit for deferred maintenance.

This is a package of seven buildings on Morehead Avenue and one building on House Avenue in Durham, NC. Located approximately one mile from the campus of Duke University, the Duke University Medical Center and Downtown Durham, all of the buildings have been owned by the same family since they were built in 1960 and 1961.

The buildings feature all-brick exteriors with hardwood floors in most of the interior rooms. There are 22, two-bedroom units and two, three-bedroom units. With the average current rent at $516 per unit or $.61 per square foot, there is an opportunity to increase current revenue through renovations and operational best practices.

UNIT INFORMATION
Unit Type Size Rent
24 UNITS SEE RENT ROLL SEE RENT ROLL $12,400 CURRENT
PROPERTY INFORMATION
PIN SEE TAX RECORDS
Tax Value $1,250,374
Taxes $16,268.90
Lot Size SEE TAX RECORDS
Year Built 1960 / 1961
Exterior BRICK
Floors HARDWOOD, CARPET, VINYL, TILE
Foundation CRAWL / SLAB
HVAC WINDOW A/C, ELECTRIC BASEBOARD HEAT, CENTRAL GAS HEAT IN SOME OF THE DUPLEX UNITS
Utilities TENANTS PAY UNIT UTILITIES, OWNER PAYS AREA LIGHTS, STORMWATER AND LANDSCAPING
Legal Description SEE TAX RECORDS
Appliances RANGE, REFRIGERATOR, W/D CONNNECTIONS
Sold Date 2017-02-28

Location Map

24 UNITS NEAR DUKE
Address: 1911 Morehead Ave, Durham, NC 27707, USA Price: $ 1,300,000 Unit: 24