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6280 Ela Road

Whittier, NC 28789
  • $1,330,000
  • STATUS: Active Under Contract
  • ON SITE: 414 Days
  • ID#: 3656664
Under Contract
UPDATED: 141 min ago
$1,330,000
  • 27
    BEDS
  • 6.56
    ACRES
  • 26
    BATHS
  • 1
    1/2 BATHS
  • 12,726
    SQFT
  • $105
    $/SQFT
Type:
Multi-Family
Built:
1961
County:
Area:

School Information

Elementary School:
Middle School:
High School:
Offered by Todd Baucom Realty Inc. Copyright 2021 Canopy MLS. All rights reserved.

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.

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Based on information submitted to the MLS GRID as of 2021-10-15T23:33:31.143 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The data relating to real estate on this Web site derive in part from the Canopy MLS IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither IDEAL Realty nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2021 Canopy MLS.

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6280 Ela Road Whittier, NC 28789

  • Price: $1,330,000
  • Status: Active Under Contract
  • Updated: 141 min ago
  • ID#: 3656664
27
Beds
26
Baths
1
½ Baths
6.56
Acres
12,726
SQFT
$105
$/SQFT
1961
Built
County:
Swain
Area:
Whittier
Elementary School:
East Swain
Middle School:
Swain
High School:
Swain
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.
Exterior Features

Construction Materials Brick PartialWood Siding Construction Type Site Built Foundation Details Crawl Space Main Level Garage YN Yes Parking Features Parking Space - 4+ Road Responsibility Public Maintained Road Structure Type Apartments

Interior Features

Appliances Other Below Grade Finished Area 0 Building Area Total 12726 Heating Wall Unit(S)Window Unit(S) Laundry Features Common Area Water Heater Electric

Property Features

Assumable YN No CCRSubject To No Community Features Laundry RoomPicnic Area Hoa Subject To None Listing Agreement Exclusive Right To Sell New Construction YN No Number Of Completed Units Total 25 Number Of Units Total 26 Pets Allowed No Property Sub Type Multi-Family Sewer Septic Installed Special Listing Conditions None Tenant Pays None Water Source Well Zoning Description Na



Based on information submitted to the MLS GRID as of 2021-10-15T23:33:31.143 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The data relating to real estate on this Web site derive in part from the Canopy MLS IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither IDEAL Realty nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2021 Canopy MLS.

Digital Millennium Copyright Act
 
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IDEAL Realty
P.O. Box 5243
Mooresville NC, 28117
Offered by Todd Baucom Realty Inc. Copyright 2021 Canopy MLS. All rights reserved.