Ela Road, Whittier, NC 28789

ACTIVE


$1,330,000

Commercial

sqft | 25 days on site






Description

High occupancy multi-family investment located on Hwy 19 approximately 9 minute drive to Harrah's Cherokee Casino. Property consists of 18 each Studio Efficiency, 4 each Studio w/Kitchen, 3 each 1 bedroom apartments and 1 each 2 bedroom apartment. Current occupancy is at 96%. The only vacant unit is under renovation and will be completed very shortly. Current Rent revenue is at $181,200.00 with an additional $18K in Laundry revenue. GPR is set at $193,200.00 with a total expense ratio of just under 50% and net income over $116,000.00 per year. All tenants are currently on Month to Month leases. Proforma and Rent Roll available upon request. A vast sum of windows and floors have recently been replaced. The balance have not been completed due to occupancy. The remaining windows and LVP flooring is on hand in the garage storage and will convey with sale. There is an office that could remain as such or be converted into another efficiency unit.

Property Details

Current price $1,330,000
Original price $1,330,000
Time on Sundog Realty 25 days
Sqft
Price/sqft
Status Active
Property type Commercial
Year built 1961
Acreage 6.56
Architectural style
Elementary school 1076
Middle school 1386
High school 1547
CSAR MLS ID 26016853
Listed By Todd Baucom Realty, Inc.

Map



New Search