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Markham Bankston, REALTORS®
144 Porter Street
Franklin NC 28734
828-524-9000 Office
800-261-3432 Toll-Free
(828)524-9610 Fax
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Listing Details
MLS Number: 26008455
List Price: $710,000
Property Type: Commercial
House #: 42
Address: Captains Point
City: Cullowhee
State: NC
Zip Code: 28723
Subdivision: none
Listing Office: WESTERN CAROLINA PROPERTIES-Dillsboro (#:2598)
Listing Agent: Robin Starrs (#:33)
Remarks: This is a great opportunity to invest in a great apartment complex that has a history off 100% occupancy and only minutes to Cullowhee and WCU. The Cap rate on this property is in excess of 8% and has a favorable NPV and expected strong cash on cash return especially with the offered owner financing. There are 8 individual 2 story apartments with two master bedrooms each with its own full bath on the second floor of each unit, additionally on the main floor there is a half bath, large living room and eat in kitchen. Each unit has a rear deck and more than adequate parking for all tenants and guests. There is additional room on the property to build additional units and there is an existing TWSA (sewer and water ) allocation for the property. The units currently rent for 775.00 per month with yearly leases.
Virtual Tour:
Area: Cullowhee
Township: Cullowhee (Jackson Co.)
Parcel Size: 2.62
Apx Acreage Range: 2-2.99
Miles Out: 3
Deed Book: 990
Deed Page: 131
Parcel ID: 7558-04-8581
City Tax: 0
County Tax: 2723.00
Year Built: 1998
Easements/Restrictions: none
Zoning: R1-Residen
Restrooms: 24
Building Size: 2016 apprx sq ft
Building 2: 2016 apprx sq ft
Building 3: 0
Building 4: 0
Type of Property: Commercial, Multi-Family
Construction: Frame, Other
Utilities: Electricity Available, Sewer Available, High Speed Internet (DSL/Cable), Water Available, TWSA
Heating System: Forced Air, Central, Electric Heat Pump
Air Conditioning: Central Electric Heat Pump
Terms of Existing Lease: Year To Year
Access: State Highway, County Highway, Paved Road
Location: County
Floors: Carpet, Vinyl
Roof System: Composition
Parking: Other-See Remarks, Parking Lot
Miscellaneous: Restroom-Private
Apx SqFt: None
Financing Type(s): Owner Financing
Listing Office Name: WESTERN CAROLINA PROPERTIES-Dillsboro
Listing Agent Name: Robin Starrs