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113 Meadow Creek Church Rd 3 Unit Apartment Building Offered at $400,000 Locust, NC 28097
Investment Highlights
- Close to Highway 24/27
- Potential Property Redevelopment
Executive Summary
Great location in the city of Locust close to Intersection of Hwy 24/27 and Meadow Creek Church Rd. Property has tenants in place please do not disturb. Property includes house and duplex which have tenants in place on verbal month to month lease. Value is based on acreage and future development potential. This property adjoins other listed parcels that have frontage on Main Highway. Development possibility to be confirmed with Locust Planning and Zoning by buyers agent. Property being sold as is, seller to make no repairs or improvements.
**DO NOT DISTURB TENANTS** Showings will only be allowed if there is a signed purchase agreement. Both the single family home and the duplex are not in good shape and therefore the purchase price is based on land. The single family home is being leased for $700/mo and each of the duplex units are leased for $600/mo. All are verbal leases and are month to month.
**DO NOT DISTURB TENANTS** Showings will only be allowed if there is a signed purchase agreement. Both the single family home and the duplex are not in good shape and therefore the purchase price is based on land. The single family home is being leased for $700/mo and each of the duplex units are leased for $600/mo. All are verbal leases and are month to month.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$22,800
|
$8.44
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$22,800
|
$8.44
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $22,800 |
| Annual Per SF | $8.44 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $22,800 |
| Annual Per SF | $8.44 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
1 of 4
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113 Meadow Creek Church Rd
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