Address
6280 Ela Road Whittier, NC
Price
$ 1,330,000
Property Attributes
- ID#3656664
- TypeMulti-Family
- CountySWAIN
- CityWhittier
- AreaSwain County
- Zip28789
- Style
- Price$ 1,330,000
- Bedrooms27
- Full Bathrooms26
- Half Bathrooms1
- Sqr Footage12726
- Lot Size6.56 Acres
Listing Provided Courtesy Of:
Todd Baucom Realty Inc
Data Source:
Canopy MLS
Property Description
High occupancy multi-family investment located on Hwy 19 approximately 9 minute drive to Harrah's Cherokee Casino. Property consists of 18 each Studio Efficiency, 4 each Studio w/Kitchen, 3 each 1 bedroom apartments and 1 each 2 bedroom apartment. Current occupancy is at 96%. The only vacant unit is under renovation and will be completed very shortly. Current Rent revenue is at $181,200.00 with an additional $18K in Laundry revenue. GPR is set at $193,200.00 with a total expense ratio of just under 50% and net income over $116,000.00 per year. Price is set at 8.75% Capitalization Rate. All tenants are currently on Month to Month leases. Proforma and Rent Roll available upon request. A vast sum of windows and floors have recently been replaced. The balance have not been completed due to occupancy. The remaining windows and LVP flooring is on hand in the garage storage and will convey with sale. There is an office that could remain as such or be converted into another efficiency unit.
| Elementary School | Middle School | High School |
|---|---|---|
| East Swain Elementary School | Swain Middle School | Swain High School |
| Price History | |
|---|---|
| 8/28/2020 | Listed $1,330,000 |
General Features
| Appliances | Other |
|---|---|
| Car Hoasubjectto | None |
| Community Features | Laundry Room, Picnic Area |
| Construction Materials | Brick Partial, Wood Siding |
| Construction Type | Site Built |
| Elementary School | East Swain |
| Heating | Wall Unit(s), Window Unit(s) |
| High School | Swain |
| Middle/Junior High School | Swain |
| New Construction | No |
| Parking Features | Parking Space - 4+ |
| Pets Allowed | No |
| Property SubType | Multi-Family |
| Property Type | Residential Income |
| Sewer | Septic Installed |
| Standard Status | Active |
| Structure Type | Apartments |
| Total Units | 26 |
| Zoning Description | NA |
Interior Features
| Full Baths | 26 |
|---|---|
| Half Baths | 1 |
| Laundry Features | Common Area |
| Total Bedrooms | 27 |
Exterior Features
| Building Area Total | 12726 |
|---|---|
| Foundation Details | Crawl Space |
| Lot Size Area | 6.56 |
| Water Source | Well |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Master On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Zip Code Average in 28789
Price
Visits
Year Built
