For Sale
$426,000

604 Arrington AveRocky Mount, NC 27803

Six-unit apartment building, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a six-unit apartment complex located at 604 Arrington Ave, Rocky Mount, NC 27803. The property consists of two buildings, one a fourplex and the other a duplex, situated on a single lot. The complex comprises four two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units. Built between 1935 and 1978, the property underwent significant renovations between 2022 and 2024, with four of the six units modernized. This presents a value-add opportunity to renovate the remaining two units, further enhancing the property's income potential. The property boasts twelve parking spaces and offers a compelling pro-forma cap rate of 10.47% and a pro-forma NOI of $44,601. The asking price is $426,000. Detailed operating costs and income statements are available upon request. Showings of vacant units can be arranged. Showings of occupied units will only be conducted after contract ratification. This multifamily property in Nash County is an excellent addition to any investor's portfolio. The property is classified as Class C.

Highlights

  • Four of six units have been recently renovated.
  • Value-add opportunity exists for the remaining two units.

Property Details for 604 Arrington Ave

Property type
Apartment buildings
Class
C
Year Built/Renovated
1935/2022
Buildings
2
Stories
1

Location Insight

City
Rocky Mount
County
Nash
State
North Carolina
Latitude
35.9272883
Longitude
-77.8140711
604 Arrington Ave, Rocky Mount, North Carolina

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604 Arrington Ave
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