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Two River Apartments 209 The Blvd 7 Unit Apartment Building $724,153 ($103,450/Unit) 8.50% Cap Rate Eden, NC 27288
INVESTMENT HIGHLIGHTS
- New 6mm-20mil LVP Flooring throughout; New Plumbing throughout
- New TPO Roof (2023) with 2" Poly ISO Insulation; 60 mil White--25 year
- Renovations completed 2024
- This property is available for purchase either as part of a portfolio or individually
EXECUTIVE SUMMARY
FULLY LEASED. Renovations completed May of 2024. Six Residential two bedrooms and one office = 7 unit.
Proximity (1 mi.) to Riverside/Municipal Greenway walking trails and paddling access.
Around a 10-minute drive to Nestle Purina Pet Care (Eden, NC); $450 MM investment for a 1.3 million sf facility providing 300 initial jobs
Around a 15-minute drive to SOVA/Berry Hill Megasite (Danville, Va); 3,528 acre site bringing thousands of jobs to the area when complete
Around 24 mi. to Caesar's Virginia Casino in Danville; bringing thousands of jobs
Current property manager to offer free releasing/leasing services and discounted property management services for one year after new owner (Buyer) acquires the property
Current waiting list for future tenants
This property is available for purchase either as part of a portfolio or individually
Proximity (1 mi.) to Riverside/Municipal Greenway walking trails and paddling access.
Around a 10-minute drive to Nestle Purina Pet Care (Eden, NC); $450 MM investment for a 1.3 million sf facility providing 300 initial jobs
Around a 15-minute drive to SOVA/Berry Hill Megasite (Danville, Va); 3,528 acre site bringing thousands of jobs to the area when complete
Around 24 mi. to Caesar's Virginia Casino in Danville; bringing thousands of jobs
Current property manager to offer free releasing/leasing services and discounted property management services for one year after new owner (Buyer) acquires the property
Current waiting list for future tenants
This property is available for purchase either as part of a portfolio or individually
PROPERTY FACTS
| Price | $724,153 | Building Class | C |
| Price Per Unit | $103,450 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 6,000 SF |
| Cap Rate | 8.50% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1927/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.5/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | BC/ED - Business Commercial | ||
| Price | $724,153 |
| Price Per Unit | $103,450 |
| Sale Type | Investment |
| Cap Rate | 8.50% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1927/2024 |
| Parking Ratio | 2.5/1,000 SF |
| Zoning | BC/ED - Business Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Property Manager on Site
- Public Transportation
- Walk-Up
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 173212 | Improvements Assessment | $32,248 |
| Land Assessment | $9,079 | Total Assessment | $41,327 |
PROPERTY TAXES
Parcel Number
173212
Land Assessment
$9,079
Improvements Assessment
$32,248
Total Assessment
$41,327
MAP
ADDITIONAL PHOTOS
Building Photo
209 pic--rear view
209 pic--meter 24
209 pic--roof
Building Photo
209 pic--interior 19
Building Photo
Building Photo
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Building Photo
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209 pic--interior 24
209 pic-interior
209 pic--meters
209 pic--stairs
Interior Photo