SOLD 11/3/2022 FOR $1,260,000
$210,000 per unit
Located in the unrivaled urban core of Raleigh, N.C., this six unit building is uniquely situated across the street from Raleigh’s Rose Garden, three blocks north of Hillsborough Street and N.C. State University. Built in 1930, the property features four, two-bedroom units on the main floor and two, one-bedroom units on the lower level. There is a common laundry room in the basement shared by all residents. This building presents the opportunity for an investor to acquire a property in a desirable neighborhood that is well-positioned for value-add improvements. Buyers should also research land values in the neighborhood and the potential to subdivide the lot. This property is being sold AS IS.
| Unit | Type | Size | Rent |
|---|---|---|---|
| 405 | 2BD/1BA | 783 SF | $1,175 |
| 407 | 2BD/1BA | 783 SF | $1,300 (MARKET) |
| 409 | 2BD/1BA | 783 SF | $850 |
| 411 | 2BD/1BA | 783 SF | $1,275 |
| 413 | 1BD/1BA | 885 SF | $1,175 |
| 415 | 1BD/1BA | 850 SF | $700 |
| 6 UNITS TOTAL | 4,867 TOTAL SF | $6,475 GROSS POTENTIAL RENT |
| PIN | 0794737511 |
| Tax Value | $708,577 |
| Taxes | $7,294.34 |
| Lot Size | 0.40 ACRES |
| Year Built | 1930 |
| Exterior | BRICK |
| Floors | HARDWOOD, CARPET, VINYL, LVP |
| Foundation | BASEMENT |
| HVAC | CENTRAL A/C, HEAT PUMP, WINDOW UNITS, GAS FORCED HEAT |
| Utilities | OWNER PAYS WATER, APPROX. $340/MONTH |
| Legal Description | LO51 &52 FOREST HILLS BM1928-00082 |
| Appliances | RANGE, REFRIGERATOR, LAUNDRY ON-SITE |
| Sold Date | 2022-11-03 |
| Zoning | R-10 |
Agent Information Thomas T Furlow