351 Porter St - Apartments FOR SALE


Franklin, NC 28734
$649,000 USD
828-370-8423
351 Porter St, Franklin, NC for Sale
$649,000 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

351 Porter St
Franklin, NC 28734


HIGHLIGHTS

  • Well maintained building.

OVERVIEW

This is a premium, approximately one-acre commercial site in the Town of Franklin, just across from the entrance to Franklin High School. The property is improved with a building with six apartment units. These units have been managed with low turnover in mind. These units are typically leased to long-term tenants, with the majority of the leases on month-to-month terms. This allows a new owner to increase the rental rates to market levels, which are $850 and up for similar units in this area. Typical units feature painted sheetrock walls, carpeted flooring, average quality appliances, bathrooms and kitchens. There is adequate paved parking available for each unit with two separate driveways and access points from Porter Street. The rental market in Franklin is incredible with very little vacancy and rents which have risen significantly over the past several years. The property is available for sale at the price of $649,000. The property consists of two buildings that house 6 apartments. Two - 3 bedroom/1 bathroom units. Three - 2 bedroom/1 bathroom units. One - 2 bedroom/ 2 bathrooms unit. *PLEASE MAKE EARNEST MONEY DEPOSIT CHECK TO BUYERS ATTORNEY** Apartments are occupied, must give 24hr notice to view some apartments. All units will be available to view with an accepted contract during due diligence

FOR SALE DETAILS

PRICE

$649,000 USD

PRICE/SF

$112 USD /SF

# OF UNITS

6

PRICE/UNIT

$108,167

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

FNMU

APN/PARCEL ID

6594074911

ASK ABOUT THIS PROPERTY

Evan HarrellRealty ONE Group VIBEMore Info
828-370-8423

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Evan HarrellRealty ONE Group VIBEMore Info
828-370-8423

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