12 Village Terrace Dr - Apartments FOR SALE


Rockingham, NC 28379
$1,799,900 USD
704-850-6822
12 Village Terrace Dr, Rockingham, NC for Sale
$1,799,900 USD
Apartments - FOR SALE
1/10
null | 6.19% Cap Rate

12 Village Terrace Dr
Rockingham, NC 28379


HIGHLIGHTS

  • Recent capital upgrades
  • Wooded/private setting
  • Located near downtown Rockingham

OVERVIEW

This multi-unit property offers strong income potential, with each unit approx. 800 sq. ft., featuring 2 bedrooms, 1 bath. Recent capital improvements include new porches, new roofs, and a new asphalt driveway with parking pads at each unit. Select units also have had recent foundation work, interior upgrades, and new HVAC systems. The property was improved this spring with extensive tree services removing dead trees and improving curb appeal. An on-site laundromat was refreshed with new appliances. This adds a revenue stream for increased profitability. The current owner receives $250+/mo in laundry income. Located near major Rockingham attractions like Discovery Place Kids and the upcoming NASCAR Xfinity Series, the property is positioned for future growth. Tenant information and rent details will be provided for a seamless transition. This is a turnkey investment with immediate cash flow potential. Don't delay! Discover this rock solid ROI potential in Rockingham, NC today! NO SIGN. DO NOT DISTURB TENANTS!DO NOT visit/walk thru the property without an appointment with the list agent. Copies of rent roll are provided in the attachments. The owner serves as property manager. The owner pays for lights and utilities for the laundry building. Power and all other utilities for units are tenant responsibilities. 15/16 units occupied at time of listing. Laundry brings approx. $60/week. Rental fee was $695/mo Jan-Mar during the renovations phase. Rent is $750/mo for 7 units; $795/mo for 9 units. There is a utility easement on the property. Seller will consider offers with purchase by 1031 exchange, subject to terms.

FOR SALE DETAILS

PRICE

$1,799,900 USD

PRICE/SF

$129 USD /SF

# OF UNITS

16

PRICE/UNIT

$112,494

CAP RATE

6.19%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.7 AC

LAND SF

204,732 SF

ZONING

R-7

APN/PARCEL ID

746201-38-7297

ASK ABOUT THIS PROPERTY

Kelley LowderBlue Sand Realty & Design LlcMore Info
704-850-6822

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Kelley LowderBlue Sand Realty & Design LlcMore Info
704-850-6822

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.