Vacant 30 Unit Apt - Bring Any & All Offers!

Multi-Family for Sale
Catylist Listing ID: 30401339
Property Subtypes: Low-Rise/Garden
Number of Units: 30 Units
Building Size (RSF): 26,523 SF
Gross Building Area: See Agent
Gross Land Area: 4 Acres
Sale Price: See Agent
Property Use Type: Investment
Building Name: Price Court Apartments
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 5/30/2019

Overview / Comments

AS-IS, WHERE-IS, WITH ALL FAULTS! Bring any and all offers on these vacant apartments located in an opportunity zone in Princeville, NC. Upside potential for a value-add investment. Water, utilities and sewer are all on-site. Currently has five apartment buildings, all containing six (1) bedroom units. On-site leasing office/laundry.

Apartments flooded during Hurricane Floyd (1999) and then again during Hurricane Matthew (2016) which resulted in a total loss both times. During Matthew, water levels rose up to 10-12 feet. All of tenants possession were removed a month post-flood, as well as all of the debris. Properties have not been touched since, due to city raising a "red flag" notice, labeling the apartments uninhabitable.

Owner is selling AS-IS, WHERE-IS, WITH ALL FAULTS. All potential buyers be aware of the current condition of the property and its position in a flood zone. Property has typical affordable housing restrictions that should be going away soon. Contact agent for more information or if you have any questions!

Additional Details

Nearest MSA: Rocky Mount
County: Edgecombe
Taxing Authority: Edgecombe County
Tax ID/APN: 473851567900
Zoning: R1
Percent Occupied: 0%
Property Located Between: South Dancy St & Prince Ct
Highway Access: US-64
Site Description: Apt Building 1: 4,139 SF Apt Building 2: 4,204 SF Apt Building 3: 4,168 SF Apt Building 4: 4,145 SF Apt Building 5: 4,145 SF Leasing office/laundry building on-site
Area Description: Located in Princeville, only minutes away from downtown Tarboro
Total Number of Buildings: 6
Property Condition: Fair
Number of Stories: 1
Year Built: 2001
Roof Type: Arched
Construction/Siding: Vinyl Siding
Parking Type: Surface
Parking Description: 30 parking spaces within the paved lot, including 4 handicap spots
Total Parking Spaces: 30
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Engineered System
Zoning Description: R1
In Flood Plain?: Yes
Lot Frontage: 315
Lot Depth: 535
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,760 10,823 18,796
Median Age: 38.08 41.36 40.48
Households: 729 4,286 7,254
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