12 RENOVATED UNITS IN GARNER

PRICE:
$ 1,300,000
STATUS:
Sold
ADDRESS:
1400 Creech Rd, Garner, NC 27529, USA
OVERVIEW:

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.

Link To Tax Records
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

Location Map

12 RENOVATED UNITS IN GARNER
Address: 1400 Creech Rd, Garner, NC 27529, USA Price: $ 1,300,000 Unit: