Listed by Braddock Associates
$1,727,000
22 Multifamily Units in Rocky Mount, NC
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 14,699
Units 22
Beds 2
Cap Rate 6.98%
NOI $120,560
Occupancy 63.64%
Tenancy Multi
Pro-Forma Cap Rate 12.33%
Pro-Forma NOI $212,960
Buildings 4
Acreage 1.540
Parking Spaces 31 spaces
Parking per 1,000 SqFt 2.11
Investment Type Value Add
Multifamily | 6.98% CAP | 22 Units
Marketing description
22 units, 4 total buildings within 1 block of each other. 514/520 Cascade Ave: 12 units between the 2 buildings that share an asphalt parking lot.
1600 Betz St/700 Nelson St: 10 units between 2 buildings that are connected and each has separate gravel parking lot.
All units are 2bed/1bath and have mini splits for heating/cooling. Units are all the same general layout.
Each building is on its own lot. 4 lots for a total of 1.54 acres according to Nash County GIS.
Electricity is individually metered and paid by tenants directly to the provider. Water is individually sub-metered.
8 vacancies, 14 Occupied units with rents ranging from $750-$850/mo.
Investment highlights
- 22 Units within 1 block of each other. 2 bed/1 bath units. Projected stabilized cap rate of 12.33%
- All units are 2bed/1bath and have mini splits for heating/cooling
- Units are all the same general layout
- Each building is on its own lot. 4 lots for a total of 1.54 acres according to Nash County GIS
- Electricity is individually metered and paid by tenants directly to the provider
- Water is individually sub-metered
- 8 vacancies, 14 Occupied units with rents ranging from $750-$850/mo
Listing Contacts
Listed by Braddock Associates
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$120,560.00
$10,046.67/mo
Valuation Metrics
0
DSCR
6.98%
Cap Rate
6.98%
ROI
Map
Zoning
R-6MFA ResidentialMulti FamilyMedium Density Multifamily Residential District
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