309 W Morgan St - Apartments FOR SALE


Wadesboro, NC 28170
$499,000 USD
919-451-1509
309 W Morgan St, Wadesboro, NC for Sale
$499,000 USD
Apartments - FOR SALE
1/19
null | 11.82% Cap Rate

309 W Morgan St
Wadesboro, NC 28170


HIGHLIGHTS

  • Fully occupied rental property in an underserved market. There is a waiting list to get into this property.
  • 11% Cap Rate consistent cashflow netting over $50k+/yr. Coin operated laundry room is additional cashflow.
  • Located right off US-74 halfway between Charlotte and Wilmington. Walkable to downtown Wadesboro shops and dining.
  • See financials below for more information about this amazing opportunity.

OVERVIEW

Beautiful historic home that has been converted to 8 apartments within walking distance to downtown Wadesboro. Currently generating over $50k in net cash flow. This building has maintained much of it's charm over the years with original hardwood floors and other classic accents throughout the building. Currently 8 of the apartments are occupied and many have been painted and refurbished. Most of the tenets have lived at this property for over a year. This property is a great opportunity for a savvy investor or anyone who loves big historic homes.

FOR SALE DETAILS

PRICE

$499,000 USD

PRICE/SF

$98 USD /SF

# OF UNITS

8

PRICE/UNIT

$62,375

CAP RATE

11.82%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

11% Cap Rate Fully Occupied 8-Unit Property

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1890

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

-

APN/PARCEL ID

6474-15-63-4927-00

ASK ABOUT THIS PROPERTY

Drew TatumCompassMore Info
919-451-1509

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Drew TatumCompassMore Info
919-451-1509

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.