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401 Summit Street

401 Summit Street Madison NC 27025

  • Price
    $1,096,000
  • Acres
    1.71

Opportunity to own a solid performing brick construction multi-family value-add property: 6 duplexes located on one block in Madison, NC (30 minutes north of Greensboro, NC). 2BR/1BA units all leased below market rents, yet still cash flowing well. 11 of the 12 units have been updated as proof of concept that rents are still below market.

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Details

Property Information

  • Property Type
    Investment
  • Building SF
    1,560
  • Acres
    1.71
  • # of Buildings
    6
  • # of Units
    12
  • Unit Mix
    2BR/1BA

Pricing & Terms

  • Price
    $1,096,000
  • NOI
    $85,848
  • Cap Rate (Actual)
    7.84%
  • Comments
    Opportunity to own a solid performing brick construction multi-family value-add property: 6 duplexes located on one block in Madison, NC (30 minutes north of Greensboro, NC). 2BR/1BA units all leased below market rents, yet still cash flowing well. 11 of the 12 units have been updated as proof of concept that rents are still below market.

Property Documents

Aerial Map