Positive Way Apartments

Sold
  • $915,000
  • Property Type:
  • Sq Ft: 6,252
  • Acres: 0.69
  • Three (3) duplex apartment buildings containing a total of six (6) units located at the entrance to Caldwell Community College and Technical Institute.
  • Each unit contains three (3) bedrooms and two (2) bathrooms. Total of eighteen (18) bedrooms. All units are currently 100% occupied. All units contain Range, Refrigerator, Dishwasher, and Washer & Dryer.
  • The owner has kept these three buildings well maintained with recent capital improvement projects to include roof replacement, decks & railings, and retaining wall. All projects were completed in 2018.
  • Appalcart stop located directly across the street at the intersection of White Oak Road and Community College Drive.
  • This property is being offered at a 6.86% capitalization rate. Total PGI of $93,720 and OER of 29.55%.
  • Underwriting includes 5% Vacancy and Credit Loss, along with estimated Legal/Accounting and Reserves. Rent roll and operating expenses available to qualified buyers.
  • Property is served by the Town of Boone water and sewer at double rate (paid by Tenants). Electric service provided by Blue Ridge Energy (paid by Tenants). Landlord pays for Charter internet service and garbage (Republic). Leases run from August 1st to July 31st.
Price:$915,000
Address:132 | 150 | 164 Positive Way
City:Boone
County:Watauga
State:NC
Zip Code:28607
MLS:211563
Year Built:2003
Floors:2
Square Feet:6,252
Acres:0.69

Location Map

Listing Inquiry