College St, Marshville, NC
Multi-family for Sale - $143,000 - 2,916 Sq. Ft. on 0.54 acres
Property Info
| CIMLS# | 796029 |
| Location College St Marshville NC 28103 | |
| Updated | April 12th, 2015 |
| Type | Multi-family |
| Price | $143,000 |
| Building | 2,916 Sq. Ft. |
| Land | 0.54 acres |
Property Description
Fourplex. All units are 2 bed/1 bath.
Ideal for investor who wants to progresss to multi-family rentals.
One unit is now vacant and under renovation. It will be filled before the closing takes place.
Two units are rented for $475/month
Two other units are rented for $500/month.
$1,950/month gross income which makes this property a 9% net cap rate.
Since it is very close to the Wingate University (8 minutes), these units can be rented by the room to students. In that case, the rent per unit will climb to $600/month which brings the cap rate over 11% net.