Class C 24 Unit Value Add Multi-family

JUST ONE OF THE PRETTIEST PARTS OF THE COUNTRY, WESTERN NORTH CAROLINA.......HERE'S A DEAL ON 24 MULTI-FAMILY UNITS, ALMOST ALWAYS FULL, THREE UNITS ARE USED FOR VRBO (Vacation short term rentals) 

239 Maple St Rutherfordton, NC 28139

39 miles from Henderson, NC and 73 miles from Charlotte NC.

Price	$1,600,000.	Building Size	26,697 SF
Sale Type	Investment	Average Occupancy	100%
No. Units	24	No. Stories	3
Property Type	Multifamily	Year Built	1966
Property Sub-type	Apartments	Parking Ratio	1.12/1,000 SF
Apartment Style	Mid Rise	Zoning Description	R2
Building Class	C	APN / Parcel ID
Lot Size	1.25 AC	Approximate Cap Rate	7.5%

DESCRIPTION

(2) Buildings on 1.25 acres consisting of 24 units - (12) 1BR/1BA 725 SF ea. and (12) 2BR/1BA 845 SF ea. Units have all been renovated in 2015, asphalt paved parking, laundry room, exterior patios or balconies.

HIGHLIGHTS

·         These units stay full with a waiting list

·         3 VRBO units with additional income stream (Vacation/corporate rental units)
https://www.vrbo.com/1404810?noDates=true&unitId=1963183

·         Low maintenance property.

·         Close to shopping, restaurants and local hospital.

 

SALE NOTES

(2) Buildings on 1.25 acres consisting of 24 units - (12) 1BR/1BA 725 SF ea. and (12) 2BR/1BA 845 SF ea. Three apartments are fully furnished and can be leased as Corporate Apartments for a great value add. Units have all been renovated in 2015/2016, New individual electric heaters installed, Upgraded water heaters and recurring pump installed to replace the boiler system. Asphalt paved parking, laundry room, exterior patios or balconies. 

Excellent location in a growing area, just 11 miles from the Tryon International Equestrian Center.

UNIT MIX INFORMATION

DESCRIPTION	NO. UNITS	AVG. RENT/MO	SQ. FT.
1+1	12	$547.50	725
2+2	12	$647.50	845

AMENITIES

UNIT AMENITIES

• Air Conditioning
• Range
• Balcony
• Tub/Shower
• Ceiling Fans
• Carpet
• Oven
• Patio

SITE AMENITIES

• Laundry Facilities
• Trash Pickup - Curbside
• Picnic Area

Please contact us for more details.

C.R.E. ADVISORS

Asheville, North Carolina, United States
828-278-8119
contact-us@creadvisors.co
Monday Thru Friday 9 am to 5 pm EST. Saturday 9 am to 3 pm EST. Sunday By Appointment Only