ELM VILLA APARTMENTS – 33 UNITS IN GREENVILLE, NC

Price:

$3,100,000

Status:

Off Market

Address:

208 S Elm St, Greenville, NC 27858, USA

Overview:

Deaton Investment Real Estate is pleased to offer the exclusive listing of Elm Villa Apartments, a 33-unit apartment community in Greenville, N.C. The asset is located off South Elm Street in Downtown Greenville and is within walking distance to East Carolina University (Fall 2022 enrollment of 27,152 students). The property is situated on 1.14 acres and features eight 2BD/1BA units and twenty-five 1BD/1BA units, most of which have been renovated and well maintained. This asset is positioned for significant organic upside as most units are renting well below newly signed rents that continue to climb. Current average in-place rent for the one- and two-bedroom units are $710 and $929, respectively. Current asking rents are $949 for the one-bedroom units and $1,149 for the two-bedroom units.

Unit Information

UnitTypeSizeRent
25 UNITS1BD/1BA455 SF$949 (CURRENT ASKING RENT)
8 UNITS2BD/1BA765 SF$1,149 (CURRENT ASKING RENT)

Property Information

PIN 4688707715 Tax Value $972,866 (REASSESSMENT SCHEDULED FOR 2024)
Taxes $15,259 (INCLUDES MULTIFAMILY SOLID WASTE FEE OF $3,840) Lot Size 1.14 ACRES
Year Built 1963 Exterior BRICK
Floors LVP, TILE, VINYL, CARPET Foundation CRAWL
HVAC MINI SPLITS, WINDOW A/C Owner Financing NONE
Utilities OWNER PAYS WATER, SEWER, GAS FOR WATER HEATER Appliances RANGE, REFRIGERATOR, LAUNDRY ON-SITE
Legal Description WILSON ACRES EXTENSION 1 7,7A,8A Zoning R6S