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29710187
29710194

1310 Main St East, Locust, NC 28097

LW
NC 201192
$935,000
112 days on market
Updated 24 days ago

Locust Manor LLC

Details
APN 558503022513,558503021367
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Square Footage 4,948
Net Rentable (SqFt) 4,948
Units 1
Cap Rate 7.22%
NOI $67,500
Occupancy 100%
Price per SqFt $189
Price Per Acre $94,450
Broker Co-Op Yes
Class A
Year Built 1910
Year Renovated 2024
Stories 2
Acreage 3.890
Investment Type Owner/User
Occupancy Date 03/14/2025

Major earning potential, Fully booked since opened , Little to no competition nearby

Marketing description

Extraordinary investment opportunity on just under 4 acres. Zoned commercial but Grandfathered in as residential. This property offers exceptional flexibility for Investors, Business Owners and Owner Occupants seeking a live / work or mixed use estate . Fully renovated offering a unique opportunity to own a luxury residence with substantial income producing potential. Situated on approximately 4 acres , this nearly 5000 sf property offers residential comfort , commercial zoning and proven rental revenue in one Exceptional offering . Currently configured to support work force / boarding accommodations the property generates $5000 PER MONTH in established rental income with the potential to produce an additional $2500 per month by leasing the owners living quarters bringing total possible income to $ 7500 + per month , 90k annually.

The home been completely and professionally remodeled, while preserving its original 1910 hardwood floors, blending historic character with modern luxury. Recent upgrades include new roof, 3 hvac systems, updated plumbing and electrical all new fixtures and a high end kitchen featuring premium Wolf appliances . Exterior features include a massive wrap around porch gated iron fencing with keypad entry , private driveway, scenic pond with separate power meter and well for supplementation. Expansive open grounds providing privacy and useability. This turnkey property is ideal for corporate housing, contractor lodging, executive rental , small hospitality use or private estate living with passive income.

Listing Contacts

LW
NC 201192

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$67,500.00
$5,625.00/mo

Valuation Metrics

0
DSCR
7.22%
Cap Rate
7.22%
ROI

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