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Listing Details

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Built
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School Information

Elementary School
Middle School
High School
Offered by Re/Max Executive. Copyright 2021 Canopy MLS. All rights reserved.

Description

Fantastic Triplex located just 3 blocks from the new Peiffer campus site in downtown Albemarle. Located on the corner lot of historic Pee Dee Ave and 7th Street. Each unit features 2 bedrooms and 2 baths. Front porches on all units. Currently all units are occupied with month to month leases. Current Gross Cap Rate at list price = 7.25%. (Current gross income for all 3 units = $19,200/year) With modifications to market rates($875/unit) for all leases Gross Cap Rate could be 11.9%!! Units are in great condition - Out of respect to tenants, please schedule appointments with plenty of notice to view units. Perfect opportunity for investment and diversification of your portfolio.

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Based on information submitted to the MLS GRID as of 2021-09-20T08:33:39.61 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The data relating to real estate on this Web site derive in part from the Canopy MLS IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Odell Realty nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2021 Canopy MLS.

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640-642-644 Pee Dee Avenue Albemarle, NC 28001

  • Price: $264,900
  • Status: Active Under Contract
  • Updated: 64 min ago
  • ID#: 3775744
6
Beds
6
Baths
0
½ Baths
0.37
Acres
2,808
SQFT
$94
$/SQFT
1993
Built
Neighborhood:
None
County:
Stanly
Area:
Albemarle
Elementary School:
Unspecified
Middle School:
Unspecified
High School:
Unspecified
Property Description
Fantastic Triplex located just 3 blocks from the new Peiffer campus site in downtown Albemarle. Located on the corner lot of historic Pee Dee Ave and 7th Street. Each unit features 2 bedrooms and 2 baths. Front porches on all units. Currently all units are occupied with month to month leases. Current Gross Cap Rate at list price = 7.25%. (Current gross income for all 3 units = $19,200/year) With modifications to market rates($875/unit) for all leases Gross Cap Rate could be 11.9%!! Units are in great condition - Out of respect to tenants, please schedule appointments with plenty of notice to view units. Perfect opportunity for investment and diversification of your portfolio.
Exterior Features

Architectural Style Ranch Construction Materials Vinyl Siding Lot Features Corner Lot Parking Features DrivewayOn Street Porch Front Road Surface Type Gravel

Interior Features

Appliances Ceiling Fan(S)Electric RangeOvenRefrigeratorSelf Cleaning OvenWasher Below Grade Finished Area 0 Building Area Total 2808 Fireplace YN No Flooring CarpetVinyl Foundation Details Crawl Space Heating Heat PumpHeat Pump Laundry Features Closet Unit Type1 Beds Total 2 Unit Type2 Beds Total 2 Unit Type3 Beds Total 2 Unit1 Baths Full 2 Unit1 Sq Ft Total 936 Unit1 Unit Rooms DenKitchen Unit2 Baths Full 2 Unit2 Sq Ft Total 936 Unit2 Unit Rooms DenKitchen Unit3 Baths Full 2 Unit3 Sq Ft Total 936 Unit3 Unit Rooms DenKitchen

Property Features

HOASubject To None HOASubject To Dues No Listing Terms CashConventional New Construction YN No Pets Allowed No Property Features Range/OvenRefrigeratorW/D Connection Property Sub Type Multi-Family Proposed Special Assessment YN No Rent Includes None Road Responsibility Public Maintained Road Sewer Public Sewer Special Listing Conditions Subject To Lease Structure Type Triplex Tax Assessed Value 175211 Tenant Pays All Utilities Unit Count 3 Unit Type1 Total Rent 450 Unit Type2 Total Rent 650 Unit Type3 Total Rent 500 Water Heater Electric Water Source Public Zoning Description R8



Based on information submitted to the MLS GRID as of 2021-09-20T08:33:39.61 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The data relating to real estate on this Web site derive in part from the Canopy MLS IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Odell Realty nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2021 Canopy MLS.

Digital Millennium Copyright Act
 
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Odell Realty
295 Lakeshore Drive
Mooresville NC, 28117
Offered by Re/Max Executive. Copyright 2021 Canopy MLS. All rights reserved.