LAKEWOOD AREA MULTIFAMILY PORTFOLIO

Price:

$1,150,000

Status:

Available

Address:

1603 Gunter St, Durham, NC 27707, USA

Overview:

This offering consists of four duplexes at 1603, 1605, 1607 and 1609 Gunter Street and a seven-unit building at 1711 Gunter Street, located just one mile from Downtown Durham and Duke University. The properties are also within steps of the redeveloping Lakewood shopping center and surrounded by neighboring single-family homes that experienced price appreciation from approximately $100/sf to nearly $200/sf in the last seven years. All fifteen units are one-bedroom, one-bath and offer a great opportunity to capture income upside through strategic renovations. The properties must be purchased as a package.

Additional Information

Rent Roll as of 02-19

Unit Information

UnitTypeSizeRent
1603-1609 GUNTER / 8 UNITS1 BD/1 BA630 SF$545 AVG
1711 GUNTER / 7 UNITS1 BD/ 1 BA450 SF$510 AVG

Property Information

PIN 082114249635, 082114248783, 082114245922 Tax Value $576,925 (Total as of 2019)
Taxes $4,822.69 (Total in 2018) Lot Size 1.23 TOTAL
Year Built 1920 (1603-1609) & 1984 (1711) Exterior WOOD (1603-1609) & VINYL (1711)
Floors VINYL, LVT Foundation CRAWL (1603-1609) & SLAB (1711)
HVAC WINDOW A/C, BASEBOARD HEAT, PTAC (THRU-WALL) Owner Financing NONE
Utilities PAID BY TENANT Appliances RANGE, REFRIGERATOR, W/D CONNECTIONS
Legal Description SEE TAX RECORDS Zoning RU-M