12 RENOVATED UNITS IN GARNER
SOLD 10/15/20 FOR $1,305,000
(price included $20,000 repair credit)
These twelve units are four miles from Downtown Raleigh and three miles from the new Amazon Distribution Center in Garner which just announced hiring for 3,000 jobs. The property features eleven, two-bedroom apartments and a one-bedroom apartment. The property underwent extensive renovations in 2019 including interior flooring, paint, appliances, hardware and fixtures. Post-renovation, rents were raised to $875 with tenants paying additional fees for water and trash. Over the last three months total income averaged $11,000 per month (April, May and June of 2020). This is a great opportunity to acquire a stabilized asset in an emerging submarket.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 1 UNIT | 1 BD/1 BA | 480 SF | $700 MKT |
| 11 UNITS | 2 BD/1 BA | 765 SF | $900 MKT |
| 12 UNITS | 8,895 SF |
PROPERTY INFORMATION
| PIN | 1711896669 |
| Tax Value | $851,279 |
| Taxes | $6,122.33 |
| Lot Size | 1.64 ACRES |
| Year Built | 1960 |
| Exterior | BRICK, BLOCK |
| Floors | LVT, TILE, CARPET |
| Foundation | SLAB |
| HVAC | WINDOW A/C, HEAT IS BASEBOARD, WALL OR RADIANT |
| Utilities | OWNER PAYS WATER AND DUMPSTER, TENANTS ARE BILLED BACK |
| Legal Description | C L KELLEY SB LTS144-158 INC PT L159-160 |
| Appliances | RANGE, REFRIGERATOR |
| Sold Date | 2020-10-15 |
| Zoning | MF-1 |
Agent Information Thomas T Furlow
Location Map
12 RENOVATED UNITS IN GARNER
