NOT LISTED FOR SALE

1024 Avondale Rd Lowell, NC 28098

Lowell Area
24 Beds
16 Baths
6,552 Sq Ft
1.37 Acre Lot

Sale Details

Date 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

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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

1.37 Acres

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

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 9, 2020
Closed on
Jun 30, 2020
Sold by
Bought by
Seller's Agent
Eddie Howell
Coldwell Banker Carver-Pressley, Realtors
Buyer's Agent
Joshua Fannin
Providence Management & Investments LLC
List Price
$754,900
Sold Price
$740,000
Premium/Discount to List
-$14,900
-1.97%

Purchase Details

Closed on
Oct 29, 2019
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$505,600
Interest Rate
3.6%
Mortgage Type
Construction

Purchase Details

Closed on
Dec 18, 2018
Sold by
Bought by

Purchase Details

Listed on
Apr 18, 2011
Closed on
Jan 9, 2014
Sold by
Bought by
Seller's Agent
Timothy Kolubinskyj
Empire RE Advisory Services
Buyer's Agent
Robert Wilson
Bob Wilson Realty, Inc
List Price
$599,000
Sold Price
$350,000
Premium/Discount to List
-$249,000
-41.57%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$280,000
Interest Rate
4.44%
Mortgage Type
Unknown

Purchase Details

Closed on
Mar 8, 2011
Sold by
Bought by

Purchase Details

Closed on
Aug 29, 2007
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
7.62%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 28, 2006
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$740,000 None Available
$430,000 None Available
-- None Available
$350,000 None Available
$508,391 None Available
$625,000 None Available
$1,410,000 None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $505,600
Previous Owner $280,000
Previous Owner $500,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,826 $675,950 $0 $675,950
2024 $4,826 $675,950 $0 $675,950
2023 $4,698 $675,950 $0 $675,950
2022 $2,248 $244,320 $42,250 $202,070
2021 $2,194 $244,320 $42,250 $202,070
2020 $2,194 $244,320 $42,250 $202,070
2019 $2,218 $244,320 $42,250 $202,070
2018 $1,999 $211,744 $25,350 $186,394
2017 $1,999 $211,744 $25,350 $186,394
2016 $1,999 $211,744 $0 $0
2014 $1,921 $208,791 $25,350 $183,441
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Canopy MLS

MLS Number: CAR3628268

Canopy MLS
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