600 Church StGibsonville, NC 27249

Property Details for 600 Church St

Year built

1972

Lot size

0.80 AC

Property size (Sq ft)

3,136 SF

Zone code

RM-5

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

102464

APU

102464

Description

This 18-unit apartment building, Eden Place Apartments, presents a compelling investment opportunity in Gibsonville, North Carolina. Situated on a 1.63-acre lot, the property boasts a total of 71,002 square feet, with 14,750 square feet of net rentable space. Built in 1972, the property currently enjoys a 94.4% occupancy rate, demonstrating strong demand. The average unit size is 819 square feet, and the average scheduled rent is $944 per month. Fourteen of the eighteen units have recently undergone interior updates, showcasing the potential for rent growth through renovations. The property's location offers convenient access to both the Piedmont Triad and Research Triangle, benefiting from the rapid job growth and escalating housing costs in these areas. Further value-add potential exists through completing upgrades to the remaining units and exploring the possibility of constructing additional units on the existing land. This well-maintained property offers a proven value-add strategy and is ideally positioned for attractive returns.

• CAP approach

  CAP return

  Valuation

  6%

  $672,436

  6.5%

  $620,710

  7%

  $576,374

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,115,748

  Geo Method

  $1,115,748

• Alternative Use

  Use

  Valuation

  Residential

  $620,710

  Hospitality

  $568,567

  Educational

  $473,041

  Medical

  $489,310

  Retail

  $735,842

Location Insight

City

Gibsonville

County

Guilford

State

North Carolina

Latitude

36.1109

Longitude

-79.5454

CBSA code

24660

CBSA name

GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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