EDGEWOOD – 81 UNITS IN BUTNER, NC

Price:

$7,250,000

Status:

Available

Address:

503 W C St, Butner, NC 27509, USA

Overview:

These 81 units are located two blocks from one another at 503 W. C Street and 704 W. B Street in Butner, NC. Known as the Edgewood Crossing Apartments (built 1998-2001) and the Edgewood Bridge Apartments (built 2004) the properties are well-maintained and operate above a 97% occupancy rate. With a limited inventory of apartments in Butner, current tenant referrals and drive-by traffic provides a surplus of leasing leads.

Edgewood Crossing contains six buildings, totaling 49 units and an onsite office. Edgewood Bridge includes four buildings with 32 units and a small office. At both properties, all of the units are identical two-bedroom and two-bathroom floorplans with the exception of one unit at Edgewood Bridge where a bedroom is used in one unit for the office space. The 3.2-acre vacant lot next to Edgewood Bridge at 704 W. B Street is included in the offering.

 

Additional Information

Edgewood Rent Roll - 08-2019

Unit Information

UnitTypeSizeRent
1 UNIT1 BD / 1 BA800 SF$570
80 UNITS2 BD / 2BA1,010 SF$712 AVG

Property Information

PIN 086616847848 / 086612950156 / 087609060093 Tax Value $1,955,990 / $45,696 / $2,942,589
Taxes $24,124 / $603 / $36,849 Lot Size 3.14 / 3.20 / 5.03 ACRES
Year Built 1998 - 2004 Exterior VINYL
Floors CARPET, VINYL Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMPS Owner Financing NONE
Utilities PAID BY TENANTS Appliances RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTIONS
Legal Description SEE TAX RECORDS Zoning NBHD