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1130 E Stadium Dr
Eden, NC 27288
Bartell Place · Multifamily Property For Sale
·
38 Units
Property Facts
| No. Units | 38 | Lot Size | 1.40 AC |
| Property Type | Multifamily | Building Size | 24,474 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1932 |
| Building Class | C | Parking Ratio | 1.84/1,000 SF |
| Zoning | R12ED | ||
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.40 AC |
| Building Size | 24,474 SF |
| No. Stories | 2 |
| Year Built | 1932 |
| Parking Ratio | 1.84/1,000 SF |
| Zoning | R12ED |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Trash Pickup - Curbside
- Maintenance on site
About 1130 E STADIUM DR , EDEN, NC 27288
Facts and Features The property is currently in a distressed state. There is a limited financial history with a minimum number of tenants; therefore, this is not a CAP rate property. NOI for 12 month period ending October 2018 was $14,940.16. The previous owner is no longer in the US and the lender has foreclosed. Stadium Commons consist of two, all brick structures with metal roofs over asphalt shingles and asphalt parking areas. The roofs and the parking areas need work. It was originally constructed as a 22 unit, 2-bedroom, 1.5 bath, townhome style community. One of the previous owners converted 19 of the townhome units to 38 garden style apartments (upstairs and downstairs units). It does not appear that this was a permitted conversion or was done to codes. It is recommended that a new owner should permit renovations to the property and convert it back to the original 22 townhome units. Conversions would likely include new appliances, fixtures, HVAC, some electrical work, flooring and painting. There is a property manager for the property with an on-site office. Current rents are $550 for the garden style one-bedroom units and $750 for the townhome 2-bedroom units with the landlord paying all utilities. Comps for 2-bedroom units in the area are in the $625 to $650 range without utilities. Year built - 1971 Zoning - Residential 12
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 38 | - | 500 - 800 |
Property Taxes
| Parcel Number | 111467 | Improvements Assessment | $87,040 |
| Land Assessment | $4,365 | Total Assessment | $91,405 |
Property Taxes
