32 UNITS IN FAYETTEVILLE, NC

PRICE:
$ 800,000
STATUS:
Sold
ADDRESS:
2105 Grand Prix Dr, Fayetteville, NC 28303, USA
OVERVIEW:

SOLD 2/23/17 FOR $800,000

Rehab and value-add opportunity. This property consists of 32, 2 BD/1.5 BA units spread over six buildings. Three buildings feature brick and vinyl exteriors. The other three buildings have wood and brick exteriors. All of the units are two-story, town homes with electric heat pumps.

The property is in need of capital improvements and is currently operating below market potential. Approximately 14 units are vacant and some need significant repairs.

However, the property is positioned to realize significant gains to revenue and NOI through a hands-on management strategy combined with renovations, repairs and improvements.

UNIT INFORMATION
Unit Type Size Rent
32 UNITS 2 BD / 1.5 BA 960 SF/UNIT CURRENTLY $550/MO
PROPERTY INFORMATION
PIN 0419-50-7830
Tax Value $1,097,700
Taxes $14,492.80
Lot Size APPRX. 3.16 ACRES
Year Built 1972
Exterior BRICK, VINYL, WOOD
Floors CARPET, VINYL, TILE
Foundation SLAB
HVAC HEAT PUMP, CENTRAL AIR
Utilities OWNER PAYS WATER (APRX. $1,050/MO), DUMPSTER (APRX. $450/MO) AND AREA LIGHTS (TBD)
Legal Description PENDING SUBDIVISION
Appliances RANGE, REFRIGERATOR, W/D CONNECTIONS (DRYER CONNECTIONS DO NOT INCLUDE A VENT)
Sold Date 2017-02-23
Zoning MR5

Location Map

32 UNITS IN FAYETTEVILLE, NC
Address: 2105 Grand Prix Dr, Fayetteville, NC 28303, USA Price: $ 800,000 Unit: 32