613-615 WAIT AVE – WAKE FOREST DUPLEX

PRICE:
$ 425,000
STATUS:
Sold
ADDRESS:
613 Wait Ave, Wake Forest, NC 27587, USA
OVERVIEW:

SOLD 9/25/2023 FOR $450,000
$225,000 per unit

This duplex at 613/615 Wait Ave, is located in close proximity to downtown Wake Forest and the campus of Southeastern Baptist Theological Seminary. Built in 1985, the two-story design features two identical townhome-style floorplans. Each unit has two-bedrooms, two-and-a-half-bathrooms, and its own garage. Both units at the property are currently occupied and are on month-to-month leases. Current rents are well below market but could be increased significantly with light value-add improvements as the units have been well-maintained. Current ownership has made recent improvements to the property that include the following: new roof (2019), new water heaters (2019), new windows (2019), and new rear decks (2021). The property has polybutylene plumbing. This offering presents an opportunity for an investor to acquire a well maintained duplex with significant income upside in a highly-sought after location.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
613 2BD/2.5BA (TH) 1,260 SF $1,000
615 2BD/2.5BA (TH) 1,260 SF $1,000
TOTAL 2,520 SF $2,000
PROPERTY INFORMATION
PIN 1841701960
Tax Value $223,038 (WAKE COUNTY TAX REASSESSMENT IN 2024)
Taxes $2,631.70 (2023 TAX BILL)
Lot Size .646 ACRES
Year Built 1985
Exterior BRICK, VINYL
Floors CARPET, TILE
Foundation CRAWL
HVAC CENTRAL A/C, GAS FORCED HEAT
Utilities TENANTS PAY UTILITIES
Legal Description LO6 ASSOCIATES BLDJ&J TRB BM1985-00485
Appliances RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTIONS
Zoning GR5

Location Map

613-615 WAIT AVE – WAKE FOREST DUPLEX
Address: 613 Wait Ave, Wake Forest, NC 27587, USA Price: $ 425,000 Unit: 2