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244 The Blvd, Eden (Portfolio 2 of 3) 244 The Blvd 2 Unit Apartment Building $272,858 ($136,429/Unit) 8.50% Cap Rate Eden, NC 27288
INVESTMENT HIGHLIGHTS
- Located in the charming area known as "The Boulevard District"
- New Metal Roof--25yr
- Renovations completed Sept. of 2023
- This property is available for purchase either as part of a portfolio or individually
EXECUTIVE SUMMARY
FULLY LEASED. Adaptive Re-use Multifamily Property with two (2) Residential Units & one (Storefront Retail / Office space (Metered Separately)
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 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 for future tenants
This property is available for purchase either as part of a portfolio or individually
PROPERTY FACTS
| Price | $272,858 | Building Class | C |
| Price Per Unit | $136,429 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 3,376 SF |
| Cap Rate | 8.50% | No. Stories | 2 |
| No. Units | 2 | Year Built/Renovated | 1927/2023 |
| Property Type | Multifamily | Parking Ratio | 0.89/1,000 SF |
| Property Subtype | Apartment | Zoning | BC/ED |
| Price | $272,858 |
| Price Per Unit | $136,429 |
| Sale Type | Investment |
| Cap Rate | 8.50% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 3,376 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1927/2023 |
| Parking Ratio | 0.89/1,000 SF |
| Zoning | BC/ED |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
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PROPERTY TAXES
| Parcel Number | 106217 | Improvements Assessment | $27,472 |
| Land Assessment | $5,593 | Total Assessment | $33,065 |
PROPERTY TAXES
Parcel Number
106217
Land Assessment
$5,593
Improvements Assessment
$27,472
Total Assessment
$33,065
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244 The Blvd, Eden (Portfolio 2 of 3) | 244 The Blvd
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