Property Listing No Longer Available for Sale

1510-1516 Hollow Drive, Greenville, NC

Multi-family for Sale - $316,900 - 5,892 Sq. Ft. on 0.46 acres


Property Info

CIMLS#36045
Location
  1510-1516 Hollow Drive
  Greenville NC 27858
UpdatedJune 20th, 2015
TypeMulti-family
Price$316,900
Building5,892 Sq. Ft.
Land0.46 acres

Property Description

GREAT INVESTMENT & INCOME OPPORTUNITY

This is a package of six (6) apartment units in one (1) duplex and two (2) townhouses.

All three buildings will be sold as a package.

Heated areas range from 1872 SF to 2010 SF. Base rents $610.

Minimum current monthly rent is $3,660 and will hold through 2014.

This income property is available for possession within 30 days.

There is the possibility of assuming the current financing at

8% fixed rate over remaining 22 yr. amortization. No bank fees.

HISTORY:

-All six buildings constructed in 1994

-One duplex and two townhouses

-All units have 2 bedrooms and 1.5 or 2 baths

-Private subdivision outside city limits in quiet country setting

-30 duplexes and townhouses with large common area

-Governed by Fox Hollow of Pitt Homeowners' Association, Inc.

-Managed by Pinnacle Property Management, Inc. of Greenville

-Average 95% occupancy rate for Fox Hollow: 2003-2013

-County taxes only

FOX HOLLOW OF PITT HOMEOWNERS' ASSOCIATION, INC.:

-All owners required to use the same management company

-Property management company handles all HOA issues and daily affairs

-Responsible for all lawn, shrubbery and road maintenance

-Insures a consistent appearance in subdivision

-Pays for area lighting, electrical and phone

-Manages the private sewer system

-Monthly dues at $90.00 per rental unit

OTHER FEATURES:

-Paved driveways

-Picnic shelter and children


Financials

Fair Market Value estimated at $320,343.