12 RENOVATED UNITS IN GARNER

Price:

$1,300,000

Status:

Under Contract

Address:

1400 Creech Rd, Garner, NC 27529, USA

Overview:

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

UnitTypeSizeRent
1 UNIT1 BD/1 BA480 SF$700 MKT
11 UNITS1 BD/1 BA765 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 Owner Financing NONE
Utilities OWNER PAYS WATER AND DUMPSTER, TENANTS ARE BILLED BACK Appliances RANGE, REFRIGERATOR
Legal Description C L KELLEY SB LTS144-158 INC PT L159-160 Zoning MF-1