80 Lindsey Ln - Apartments FOR SALE


Burnsville, NC 28714 | 
$1,450,000 USD
615-971-1553
80 Lindsey Ln, Burnsville, NC for Sale
$1,450,000 USD
Apartments - FOR SALE
1/31
null | Request Cap Rate

80 Lindsey Ln
Burnsville, NC 28714


HIGHLIGHTS

  • 4 MTM Leases with below market rent
  • 9 of 10 Unit Already Renovated
  • Strong In-Place Income with Easy Value-Add

OVERVIEW

Lindsey Lane Apartments is a 10-unit multifamily property consisting of four buildings on ±1.98 acres with a mix of one-, two-, and three bedroom units. 9 of the 10 units have been renovated. Numerous mini-split HVAC installed. This limits any near-term capital needs. Four month-to-month leases provide immediate opportunity to increase rents to market; continuing to implement water reimbursements and garage rentals are additional opportunities to increase NOI. With multiple paths to increase income, Lindsey Lane offers investors an attractive combination of current cash flow and value-add upside.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$168 USD /SF

# OF UNITS

10

PRICE/UNIT

$145,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lindsey Lane Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.97 AC

LAND SF

85,645 SF

ZONING

None

APN/PARCEL ID

083004738429.000

ASK ABOUT THIS PROPERTY

Zach BrittBritt Commercial Real Estate LLCMore Info
615-971-1553

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

Zach BrittBritt Commercial Real Estate LLCMore Info
615-971-1553

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