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
AVG $1.33M
$1.33M
Visits
AVG 147
148
Year Built
AVG 1961
1961

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