6 Beds
5 Baths
2,640 SqFt
6 Beds
5 Baths
2,640 SqFt
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,640 sqft
Price per Sqft $217
MLS Listing ID 4415435
Style Arts and Crafts
Bedrooms 6
Full Baths 4
Half Baths 2
Construction Status Completed
Abv Grd Liv Area 2,640
Year Built 2021
Lot Size 4,965 Sqft
Acres 0.114
Property Sub-Type Duplex
Property Description
Both units feature open-concept main-level living, modern finishes, granite countertops, shaker-style cabinetry, durable laminate flooring on the main level, carpeted bedrooms upstairs, washer/dryer connections and driveway parking. The property is convenient to downtown Waxhaw shopping, dining and community amenities, with the Waxhaw Library located nearby.
Unit C is currently leased at $1,750 per month. Unit D is vacant and is currently being marketed for lease at $1,800 per month, giving the next owner the flexibility to select the next tenant, establish the new lease terms or potentially occupy one side, subject to applicable lease and financing requirements.
Based on the current $1,750 rent and the vacant unit's $1,800 advertised rent, projected stabilized gross income is $3,550 per month, or $42,600 annually. At the $575,000 asking price, that represents an approximate 7.41% stabilized gross yield before operating expenses. Projected income is based on the vacant unit being leased at its current advertised rental rate and is not guaranteed. Gross yield is not a cap rate and does not deduct taxes, insurance, utilities, maintenance, vacancy, management or capital reserves.
This property offers an appealing balance for an investor: income already in place from one unit, combined with immediate control over the second unit. Lease documentation, rental history and available financial information may be reviewed during due diligence.
A companion fully occupied duplex containing two additional three-bedroom rental units is also being offered separately, creating the opportunity to acquire both buildings as a four-unit portfolio, subject to availability. See companion MLS 4415402. Buyer is always encouraged to verify all property information, square footage, leases, projected income and expenses.
****virtual staging used! There are mounted sconces represented in the primary bedroom that are not present! that is virtual staging only****
Location
State NC
County Union
Zoning AK2
Interior
Interior Features Open Floorplan, Pantry
Heating Central, Electric, Heat Pump
Cooling Ceiling Fan(s), Central Air, Electric
Flooring Carpet, Laminate
Fireplace false
Appliance Dishwasher, Electric Range, Microwave
Laundry In Unit, Inside, Laundry Closet, Main Level, Washer Hookup
Exterior
Community Features None
Utilities Available Electricity Connected
Waterfront Description None
Roof Type Composition
Street Surface Concrete,Paved
Porch Covered, Front Porch
Garage false
Building
Lot Description Sloped
Dwelling Type Site Built
Foundation Crawl Space
Sewer Public Sewer
Water City
Architectural Style Arts and Crafts
Structure Type Fiber Cement
New Construction false
Construction Status Completed
Schools
Elementary Schools Waxhaw
Middle Schools Parkwood
High Schools Parkwood
Others
Pets Allowed Conditional
Senior Community false
Acceptable Financing Cash, Other - See Remarks
Horse Property None
Listing Terms Cash, Other - See Remarks
Special Listing Condition None
Schools and Properties Nearby
