MCPHERSON VILLAGE – 22 UNITS IN MEBANE, N.C.

PRICE:
$ 3,300,000
STATUS:
Sold
ADDRESS:
300 E McPherson Dr, Mebane, NC 27302, USA
OVERVIEW:

SOLD 2/7/2023 FOR $2,950,000
$134,090 per unit

Deaton Investment Real Estate represented the seller as the exclusive listing agent for this transaction. McPherson Village is conveniently located in Mebane, N.C., a rapidly-growing suburban market along the I-85/I-40 corridor, which links the Triangle (Raleigh, Durham, Chapel Hill) and Triad (Greensboro, Winston-Salem, High Point) regions. These 22 units are identical two-bedroom, townhome-style floorplans situated less than one mile from the Tanger Outlets and multiple dining, retail, and employment centers along Mebane Oaks Road. This highly-desired neighborhood features newer construction homes selling for $175 to $200 PSF within one block of McPherson Village.

Current ownership proved a value-add programs by renovating five units with new flooring, fixtures, appliances, counter tops and more. Proven rents for renovated units reached $1,325 in September of 2022. The average in-place rent of unrenovated units is $870. This represents more than $87,000 in annual revenue upside to the investor seeking a value-add opportunity in a growing market.

Virtual Tour

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
16 UNITS 2 BD/1.5 BA CLASSIC 890 SF $870 (AVG.)
6 UNITS 2 BD/1.5 BA RENOVATED 890 SF $1,295 - $1,325
PROPERTY INFORMATION
PIN 9824092720
Tax Value $877,430 (2023 REVALUATION)
Taxes $9,914.96
Lot Size 1.54 ACRES
Year Built 1968
Exterior BRICK, WOOD
Floors LVP, CARPET, VINYL
Foundation SLAB
HVAC CENTRAL A/C, HEAT PUMP
Utilities OWNER PAYS WATER
Legal Description HICKORY GROVE SUBD LTS 8-23
Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER & DRYER CONNECTIONS
Sold Date 2023-02-07
Zoning MF

Location Map

MCPHERSON VILLAGE – 22 UNITS IN MEBANE, N.C.
Address: 300 E McPherson Dr, Mebane, NC 27302, USA Price: $ 3,300,000 Unit: