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$ 999,000
Est. payment | /mo
$ 999,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Bonnie Doone
MLS Listing ID 765763
HOA Y/N No
Property Sub-Type Apartment
Property Description
157 Old Shaw Rd presents an excellent multifamily investment opportunity featuring a 10-unit apartment complex with strong in-place occupancy and consistent rental income. The property offers investors immediate cash flow with an average monthly rent of $871.06 per unit, providing both stable income and future upside potential through continued rental growth and operational efficiencies.
The property has recently undergone extensive, high-value capital improvements designed to maximize efficiency, protect your margins, and attract premium tenants. Key modernizations include a comprehensive full plumbing overhaul and major electrical upgrades—complete with dedicated, newly added breaker boxes for every apartment. Inside the units, tenants enjoy an elevated living experience with brand-new kitchens and bathrooms, featuring all-new cabinetry, brand-new refrigerators, and modern stoves.
This asset is well-positioned for investors seeking a professionally maintained multifamily property in a growing rental market. The unit mix and steady tenant demand make this an attractive addition to any investment portfolio, whether for a seasoned operator or first-time multifamily investor.
The property represents a successful, completed value-add project. Since acquisition, ownership has implemented a comprehensive operational turnaround, rectifying previous management inefficiencies and optimizing the tenant base. The current list price reflects the property's successful transition from an under-performing asset to a fully stabilized, high-yield investment.
Financial information, including income and expense figures, has been provided by the property owner. Buyers are encouraged to conduct their own independent due diligence and verification of all financials and property information.
Contact listing agent for additional details, rent roll, and financial package.
The property has recently undergone extensive, high-value capital improvements designed to maximize efficiency, protect your margins, and attract premium tenants. Key modernizations include a comprehensive full plumbing overhaul and major electrical upgrades—complete with dedicated, newly added breaker boxes for every apartment. Inside the units, tenants enjoy an elevated living experience with brand-new kitchens and bathrooms, featuring all-new cabinetry, brand-new refrigerators, and modern stoves.
This asset is well-positioned for investors seeking a professionally maintained multifamily property in a growing rental market. The unit mix and steady tenant demand make this an attractive addition to any investment portfolio, whether for a seasoned operator or first-time multifamily investor.
The property represents a successful, completed value-add project. Since acquisition, ownership has implemented a comprehensive operational turnaround, rectifying previous management inefficiencies and optimizing the tenant base. The current list price reflects the property's successful transition from an under-performing asset to a fully stabilized, high-yield investment.
Financial information, including income and expense figures, has been provided by the property owner. Buyers are encouraged to conduct their own independent due diligence and verification of all financials and property information.
Contact listing agent for additional details, rent roll, and financial package.
Location
State NC
County Cumberland
Interior
Heating Baseboard
Fireplace No
Exterior
Water Access Desc Public
Building
Sewer Other
Water Public
Others
Tax ID 0419-31-1984
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Listed by TOWNSEND COMMERCIAL
Nearby Locations
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Megan Peters
REALTOR® | Lic# 299710