627/629 WAIT AVE – WAKE FOREST DUPLEX

PRICE:
$ 399,000
STATUS:
Sold
ADDRESS:
627 Wait Ave, Wake Forest, NC 27587, USA
OVERVIEW:

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

This duplex at 627/629 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 $2,300 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, 621/623 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.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
627 WAIT 2BD/2.5BA (TH) 1,260 SF $1,200
629 WAIT 2BD/2.5BA (TH) 1,260 SF $1,100
PROPERTY INFORMATION
PIN 1841703812
Tax Value $223,038 (WAKE COUNTY TAX REASSESSMENT IN 2024)
Taxes $2,631.70 (WAKE COUNTY TAX REASSESSMENT IN 2024)
Lot Size .58 ACRES
Year Built 1985
Exterior BRICK & VINYL
Floors CARPET, VINYL, TILE
Foundation CRAWL
HVAC CENTRAL A/C, GAS FORCED HEAT
Utilities TENANTS PAY UTILITIES
Legal Description LO5 ASSOCIATES BLDJ&J TRB BM1985-00485
Appliances RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTIONS
Sold Date 2023-08-18
Zoning GR5

Location Map

627/629 WAIT AVE – WAKE FOREST DUPLEX
Address: 627 Wait Ave, Wake Forest, NC 27587, USA Price: $ 399,000 Unit: 2