BOYLAN HEIGHTS QUAD

PRICE:
$ 607,500
STATUS:
Sold
ADDRESS:
501 Cutler St, Raleigh, NC 27603, USA
OVERVIEW:

SOLD 8/4/17 FOR $607,500 

This beautiful quadraplex represents a rare opportunity to acquire an investment property in Raleigh’s historic, Boylan Heights neighborhood. The property has been well maintained, the units are gorgeous and the basement apartment was just renovated. The owner pays the gas, water and electric utilities for all units.

In addition to the lease rates quoted below, unit #1 receives a $100 credit for performing yard maintenance each month. Also, unit #2 pays an additional $75 and unit #3 pays an additional $50 per month as a utility payment. These arrangements are documented in the leases.

UNIT INFORMATION
Unit Type Size Rent
1 - 1ST FLOOR 2 BD / 1.5 BA APPX. 1870 SF $1,750
2 - 2ND FLOOR 1 BD / 1 BA APPX. 840 SF $1,050
3 - 2ND FLOOR EFFICIENCY APPX. 400 SF $550
4 - BASEMENT 1 BD / 1 BA APPX. 700 SF $1,150
TOTAL APPX. 4000 SF $4,500
PROPERTY INFORMATION
PIN 1703363905
Tax Value $474,044
Taxes $4,929.56
Lot Size .15 ACRES
Year Built 1915
Exterior WOOD
Floors HARDWOOD, CARPET, TILE, VINYL TILE
Foundation BASEMENT, CRAWL
HVAC CENTRAL A/C (EACH APT. HAS SEPERATE ZONE), GAS HEAT (BASEMENT AND 1ST FLOOR), ELECTRIC HEAT (2ND FLOOR)
Utilities GAS, WATER AND ELECTRIC PAID BY OWNER, APPRX. $450/MO TOTAL
Legal Description LO142 BOYLAN HEIGHTS
Appliances RANGE, REFRIGERATOR, DISHWASHER (VARIES BY UNIT)
Sold Date 2017-08-04
Zoning R-10

Location Map

BOYLAN HEIGHTS QUAD
Address: 501 Cutler St, Raleigh, NC 27603, USA Price: $ 607,500 Unit: 4