202 Overlook Drive

    Spruce Pine, NC 28777
    • $1,250,000
    • STATUS: Active
    • ON SITE: 8 days
    • MLS #: 3473220
    UPDATED: 75 min ago
    $1,250,000
    • 26
      BEDS
    • 1.52
      ACRES
    • 24
      BATHS
    • 0
      1/2 BATHS
    • 12,000
      SQFT
    • $104
      $/SQFT
    Type:
    Multi-Family
    Built:
    2005
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:
    Offered by Foxfire Real Estate, Llc. Copyright 2019 Carolina Multiple Listing Services. All rights reserved.

    Description

    Income opportunity attracting professionals w/high efficiency & extremely well maintained (like-new), 3 bldg./12-unit homes in prime rental corridor next to hospital & ECU School of Dentistry. Located in one of the most desirable neighborhoods, Eleven 2BD/2BA w/Master suite, two 3BD/2BA, high ceilings, front & rear porch, ramp accessibility on 1st floor & perfect floor plans. 27 pk. spaces, room for equip. bldg./office. 100% occupancy at all times! Current CAP = 8% (T-12= 7%). Excellent upside (CAP= 10%) potential/value-add opportunity for increased rents/NOI, w/no capital expenditures or updates needed (current rents= $200+ below market rate). Strong demographics & high quality employment opportunities. Rising rental pressure in growing town. Next to schools, shopping & employment- 5 min. to all major employers. Additional 4.15 acres on same street = further development w/water & sewer tap already purchased ($78,000; MLS#: 3451543).20 min.- I-40, 50 min.- Asheville, 2hr.- Charlotte.

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    The data relating to real estate on this Web site derive in part from the Carolina Multiple Listing Services, Inc. IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither RE/MAX Journey nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2019 Carolina Multiple Listing Services, Inc. Data last updated 2019-02-17T18:58:51.933.

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    www.journeyrealtync.com/homes/91693664

    202 Overlook Drive Spruce Pine, NC 28777

    • Price: $1,250,000
    • Status: Active
    • Updated: 75 min ago
    • MLS #: 3473220
    26
    Beds
    24
    Baths
    0
    ½ Baths
    1.52
    Acres
    12,000
    SQFT
    $104
    $/SQFT
    2005
    Built
    County:
    Mitchell
    Area:
    Spruce Pine
    Elementary School:
    Greenlee Primary
    Middle School:
    Harris
    High School:
    Mitchell
    Property Description
    Income opportunity attracting professionals w/high efficiency & extremely well maintained (like-new), 3 bldg./12-unit homes in prime rental corridor next to hospital & ECU School of Dentistry. Located in one of the most desirable neighborhoods, Eleven 2BD/2BA w/Master suite, two 3BD/2BA, high ceilings, front & rear porch, ramp accessibility on 1st floor & perfect floor plans. 27 pk. spaces, room for equip. bldg./office. 100% occupancy at all times! Current CAP = 8% (T-12= 7%). Excellent upside (CAP= 10%) potential/value-add opportunity for increased rents/NOI, w/no capital expenditures or updates needed (current rents= $200+ below market rate). Strong demographics & high quality employment opportunities. Rising rental pressure in growing town. Next to schools, shopping & employment- 5 min. to all major employers. Additional 4.15 acres on same street = further development w/water & sewer tap already purchased ($78,000; MLS#: 3451543).20 min.- I-40, 50 min.- Asheville, 2hr.- Charlotte.
    Exterior Features

    Construction Type Site Built Driveway Asphalt Exterior Construction Vinyl Foundation Crawl Space Lot Description City ViewGreen AreaLevelLong Range ViewMountain ViewOpen/ClearedPaved FrontageSlopingViewsYear Round View Parking LotParking Space - 2

    Interior Features

    Doors And Windows G-Insulated Door(S)Insulated Windows Equipment Cable PrewireDishwasherDryerElectric Range/OvenRefrigeratorWasher Floor Coverings CarpetVinyl/Linoleum Heating Central Air Laundry Location Main Property Features Cable AvailableHandicap Access Sq Ft Basement 0

    Property Features

    Agent Owner No Multifamily Type Apartments New Construction No Sewer City Sewer Special Conditions None Tenant Responsibilities CableElectricity Water City Water Water Heater Electric Zoning R-1



    The data relating to real estate on this Web site derive in part from the Carolina Multiple Listing Services, Inc. IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither RE/MAX Journey nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2019 Carolina Multiple Listing Services, Inc. Data last updated 2019-02-17T18:58:51.933.

    Digital Millennium Copyright Act
     
    RE/MAX Journey
    141 Laurel Hill Dr Ste 6
    Rutherfordton NC, 28139
    Offered by Foxfire Real Estate, Llc. Copyright 2019 Carolina Multiple Listing Services. All rights reserved.