99 N. Country Club Dr., Cullowhee, NC
Multi-family for Sale - $997,000 - 10,032 Sq. Ft. on 2.99 acres
Property Info
| CIMLS# | 913472 |
| Location 99 N. Country Club Dr. Cullowhee NC 28723 | |
| Updated | September 6th, 2016 |
| Type | Multi-family |
| Price | $997,000 |
| Building | 10,032 Sq. Ft. |
| Land | 2.99 acres |
Property Description
SVN | BlackStream Commercial, LLC as exclusive Sales Broker to the Seller, is pleased to present the opportunity to buy this desirable, 100% occupancy 12-unit apartment complex in Cullowhee, NC. This 12-unit complex within walking distance of Western Carolina University is consistently rented out. The property is located just six miles from Sylva. All of the roofs on the two quad units and two duplex units have been recently replaced as has 80% of the asphalt; upgrades have been constantly made to keep the units fresh. Rents are below market rates; water, sewer, and garbage pick-up is provided. Renter's only pay for electricity and have the choice of purchasing cable and phone services. Commercial Property Management fees added to annual expenses of 7% of NOI ($6950) to calculate expected Buyer's approximate NOI.
*The information contained herein was obtained from sources deemed to be reliable. However, BlackStream Commercial, LLC makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. SVN | BlackStream recommends a commercial appraisal prior to listing. This is not a commercial appraisal
Location Description:
Located in the heart of Cullowhee; very close to Wester Carolina University. 12 Multi-family units. 8 3 BR and 4 2 BR units. Occupancy rate has been at 100% consistently over the past 10 years. Private wells; water pumps are 2 years old and have automatic water filters. Property is on TWSA system. Has an annual NOI of $66k. New roofs and blacktop done in 2014.
*The information contained herein was obtained from sources deemed to be reliable. However, BlackStream Commercial, LLC. makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. This is not a commercial appraisal, BlackStream Commercial, LLC. will not be held liable for any disputes arising from final listing price.
Highlights:
>> 12-Unit Complex
>> 100% Leased Consistently via Word of Mouth
>> Walking distance to Western Carolina University
>>
Financials
Sales Info:
>> Commision split: 50.0%