621/623 WAIT AVE – WAKE FOREST DUPLEX

SOLD 8/18/2023 FOR $452,000
$226,000 per unit 

This duplex at 621/623 Wait Ave, is located in close proximity to downtown Wake Forest and the campus of Southeastern Baptist Theological Seminary.  The property is fully-leased with $2,275 in gross monthly rent. Current rents are below market but could be increased significantly with strategic improvements. 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. Utilities are individually metered and are paid by the residents. The neighboring duplex, 627/629 Wait Ave, is owned by the same owner and is also up for sale. These two duplexes can be bought individually or as a package. Both of these duplexes present a excellent value-add opportunity in a highly-desirable location.