NOT LISTED FOR SALE

1024 Avondale Rd Lowell, NC 28098

24 Beds
16 Baths
6,552 Sq Ft
1.37 Acres

Last Sold June 30, 2020

Last sale price $740,000 $113 Per Sq Ft

About This Home

As of June 2020

!!!Attention Investors!!! Here is an opportunity to add 16 units of multifamily real estate to your rental portfolio. The complex consists of 2 buildings that have 12 bedrooms each. All of the units are currently vacant. the owners plans were to rehab and lease up. due to currently being tied up on other projects the seller has decided to sale. some of the units do need rehab work. some just need cosmetics and others may need a little more TLC. This a great opportunity for someone that is already in the multifamily business. Potential rents of 145-150k annual gross after being brought to 100% occupancy rate.

Last Agent to Sell the Property

Eddie Howell

Coldwell Banker Carver-Pressley, Realtors License #277068 Listed on: 06/09/2020

Coldwell Banker Carver-Pressley, Realtors

Co-Listed By

Carla Howell

Coldwell Banker Carver-Pressley, Realtors License #129522

Last Buyer's Agent

Joshua Fannin

Providence Management & Investments LLC License #79830

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1970

Lot Details

  • 1.37

Home Design

  • Brick Exterior Construction

Additional Features

  • 16 Full Bathrooms
  • Crawl Space
  • Septic Tank

Listing and Financial Details

  • Tenant pays for cable, electric heat, electricity, gas, water, all utilities
  • Rent includes exterior maintenance, interior common lights, outdoor lighting, sewer
  • Assessor Parcel Number 128268

Property Details

Home Type

Multi-Family

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Apartments
  • Ratio Close Price By List Price: 0.98026
  • Ratio Close Price By Original Li: 0.98026
  • Ratio Current Price By Acre: 540145.99
  • Ratio Current Price By Sq Ft: 112.94
  • Year Built: 1970
  • Special Features: None

Interior Features

  • Foundation Details: Crawl Space
  • Full Bathrooms: 16
  • Total Bedrooms: 24
  • Total Sq Ft: 6552

Exterior Features

  • Construction: Brick Full
  • Construction Type: Site Built

Garage/Parking

  • Parking: Lot

Utilities

  • Heating: Central Air
  • Sewer: Septic Installed
  • Water: City Water
  • Water Heater: Electric

Lot Info

  • Parcel Number: 128268
  • Zoning Specification: APT01

Rental Info

  • Rent Includes: Exterior Maintenance, Interior Common Lights, Outdoor Lighting, Sewer
  • Tenant Pays: Cable, Electric Heat, Electricity, Gas, Water, All Utilities

Tax Info

  • Tax Value: 487100.00
  • Tax Location: Lowell

Multi Family

  • Number Of Units Total: 16

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/30/2020 06/30/20 Sold $740,000 -2.0% $113 / Sq Ft
06/09/2020 06/09/20 Pending -- -- --
06/09/2020 06/09/20 For Sale $754,900 +115.7% $115 / Sq Ft
01/31/2014 01/31/14 Sold $350,000 -41.6% $27 / Sq Ft View Prior Sale
11/22/2013 11/22/13 Pending -- -- --
04/18/2011 04/18/11 For Sale $599,000 -- $46 / Sq Ft
Source: Canopy MLS (Canopy Realtor® Association)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Canopy MLS (Canopy Realtor® Association)

MLS Number: CAR3628268

Canopy MLS (Canopy Realtor® Association)