Listed by Braddock Associates
$325,000
1110-1112 Clark Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,211
Units 4
Cap Rate 6.87%
NOI $22,317
Occupancy 75%
Tenancy Multi
Pro-Forma Cap Rate 10.37%
Pro-Forma NOI $33,717
Year Built 1982
Buildings 1
Acreage 0.280
Parking Spaces 7 spaces
Parking per 1,000 SqFt 2.18
Investment Type Stabilized
Multifamily | 6.87% CAP | 4 Units
Marketing description
1982 Quadplex w/ 1 vacant unit
Current rents range from $625-$725
Projected 10.37% Cap rate at market rent ($750)
Rocky Mount has a strategic advantage being at the midway point of I-95 and at the intersection of I-95 and US-64. Rocky Mount has a variety of attractions including the Rocky Mount Mills, the Imperial Centre for the Arts and Sciences, a variety of restaurants and breweries and many beautiful parks. The Rocky Mount area is also home to NC Wesleyan University, Nash Community College, and Edgecombe Community College.
Investment highlights
- 1982 Quadplex w/ 1 vacant unit
- Current rents range from $625-$725
- Projected 10.37% Cap rate at market rent ($750)
- Vinyl Siding
- Vinyl Windows
- Asphalt Shingle Roof
- Large asphalt parking lot
- Brick Breezeway
- Baseboard heat
- Window Unit AC other than 1110 Clark St. Unit B which has a mini split w/ date code 2024
Listing Contacts
Listed by Braddock Associates
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$22,317.00
$1,859.75/mo
Valuation Metrics
0
DSCR
6.87%
Cap Rate
6.87%
ROI
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