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$ 499,000
Est. payment /mo
Price Dropped by $26K
3552 & 3560 Tart ST Fayetteville, NC 28306
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Fayetteville
MLS Listing ID 768563
HOA Y/N No
Property Sub-Type Other
Property Description
Income-producing investment portfolio consisting of two properties across three parcels with six current month-to-month rental agreements. The four-bedroom residence at 3560 Tart Street is rented by the room at $800, $600, $400 and $500 per month. The duplex at 3552 Tart Street is occupied at $325 per week per side. Based on the current rent schedule, the portfolio generates approximately $61,400 in annual gross income, averaging approximately $5,117 per month. The seller reports net operating income of approximately $3,500 per month, or $42,000 annually, after operating expenses. Based on the new $499,000 asking price, the property offers an estimated 8.4% cap rate. The month-to-month agreements provide flexibility and may be converted to long-term leases by agreement with the occupants. This corner-lot assemblage also includes an additional vacant parcel that may offer future development potential, subject to zoning, permitting and governmental approvals. Excellent opportunity for immediate income with room for future growth. Buyer to independently verify all income, expenses, leases, square footage and development potential.
Location
State NC
County Cumberland
Interior
Fireplace No
Exterior
Water Access Desc Well
Building
Sewer Public Sewer
Water Well
Others
Tax ID 0424-78-4687, 0424-78-4651, & 0424-78-4524
Ownership More than a year
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Listed by ONNIT REALTY GROUP
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