1914 Millan Drive
Fayetteville, NC 28305
#LP733204
Description
1914 Millan Drive is a core investment multi-family opportunity located in the N. Fayetteville (Terry Sanford/Haymount) Submarket, one of Fayetteville’s premier locations. The subject property (approx. 2,400 Sq. Ft.) is a well-maintained brick quadraplex (4-units) located on 0.43 acres at the end of a Haymount cul-de-sac. All units are 1 bedroom, 1 bathroom, living room, kitchen and laundry room. There is currently one (newly renovated) vacant unit, which compares very favorably to the market average. For that reason, the pro-forma outlook has a $43,800 gross operating income. Furthermore, the N. Fayetteville (Terry Sanford) submarket boasts a 6.4% avg. market cap rate and $1,024 avg. monthly rent for 1-bedroom units, leaving room here for value-add. This pristine quadraplex has been a valued investment and consistently improved. Unit #1 is vacant and recently renovated (rather than re-rented) for the purpose of showings. Units 2-4 are occupied by tenants (leases attached).
Interior Details
- InteriorEntrance Foyer, Granite Counters
Heating & Cooling
- CoolingCentral Air
- HeatingHeat Pump
Property Details
- Lot FeaturesCul-De-Sac
- Lot DescriptionCul-De-Sac
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1952
Utilities / Energy Details
- Utility FeaturesNatural Gas Available
Community and Neighborhood Details
- SubdivisionHaymount
Location
- ZoningSF6 - Single Family Res 6
- CountyCumberland
Other
- MLS #LP733204
Location
Legal
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Last Updated: . Source: TRIANGLEMLS
Listing Courtesy
Listing Agent: MATTHEW BARRETT (#LPbarrgx)
Listing Office: COLDWELL BANKER ADVANTAGE - FAYETTEVILLE (#LP1090)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
