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Listed by COLDWELL BANKER ADVANTAGE - FAYETTEVILLE
$ 472,000
Est. payment /mo
Pending
1914 Millan Drive Fayetteville, NC 28305
UPDATED:
11/26/2024 07:40 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Subdivision Haymount
MLS Listing ID LP733204
Originating Board Triangle MLS
Year Built 1952
Property Description
1914 Millan Drive is a core investment multi-family opportunity located in the N. Fayetteville (Terry Sanford/Haymount) Submarket, one of Fayetteville’s premier locations. The subject property (approx. 2,400 Sq. Ft.) is a well-maintained brick quadraplex (4-units) located on 0.43 acres at the end of a Haymount cul-de-sac. All units are 1 bedroom, 1 bathroom, living room, kitchen and laundry room. There is currently one (newly renovated) vacant unit, which compares very favorably to the market average. For that reason, the pro-forma outlook has a $43,800 gross operating income. Furthermore, the N. Fayetteville (Terry Sanford) submarket boasts a 6.4% avg. market cap rate and $1,024 avg. monthly rent for 1-bedroom units, leaving room here for value-add. This pristine quadraplex has been a valued investment and consistently improved. Unit #1 is vacant and recently renovated (rather than re-rented) for the purpose of showings. Units 2-4 are occupied by tenants (leases attached).
Location
State NC
County Cumberland
Zoning SF6 - Single Family Res 6
Direction Use Google Maps / GPS from your location
Interior
Interior Features Entrance Foyer, Granite Counters
Heating Heat Pump
Cooling Central Air
Flooring Carpet, Hardwood, Vinyl, Tile, Other
Exterior
Utilities Available Natural Gas Available
View Y/N Yes
Street Surface Paved
Private Pool No
Building
Lot Description Cul-De-Sac
Faces Use Google Maps / GPS from your location
Others
Tax ID 0427672162
