MULTIFAMILY INSIDE THE BELTLINE OF RALEIGH

PRICE:
$ 1,295,000
STATUS:
Sold
ADDRESS:
409 Gardner St, Raleigh, NC 27607, USA
OVERVIEW:

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.

Link To Tax Records
UNIT INFORMATION
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
PROPERTY INFORMATION
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

Location Map

MULTIFAMILY INSIDE THE BELTLINE OF RALEIGH
Address: 409 Gardner St, Raleigh, NC 27607, USA Price: $ 1,295,000 Unit: 6