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312 Stokes St 5 Unit Apartment Building $829,900 ($165,980/Unit) 10.42% Cap Rate Burlington, NC 27215
INVESTMENT HIGHLIGHTS
- Newly Replaced Windows
- Recently Replace Roof
- Newly Replaced Appliances
EXECUTIVE SUMMARY
Incredible investment opportunity! 3840 square foot 5-unit building, fully rented with all tenants living there for two years or more. All units are 2- bedroom units, 1- Bath each with their own parking space and plenty off street parking. Projected rental income of $85,800 for 2025. Each unit has it’s on water and power meter. NEW VINYL AND REPLACEMENT WINDOWS INSTALL LAST MONTH, ALL DISHWASHER REPLACED WITHIN THE LAST TWO MONTHS, ROOF REPLACED WITHIN THE LAST 2 YEARS. CENTRAL AIR/HEAT,LVP and WASHER/DRYER HOOK UPS IN ALL UNITS. All tenants are currently on a lease and all wish to remain in place. DO NOT VISIT THE PROPERTY WITHOUT AN APPOINTMENT. No Realtor sign in yard. PLEASE PROVIDE PRE-APPROVAL (NOT PRE-QUAL. LETTER IF OBTAINING A LOAN) OR PROFF OF FUNDS BEFORE REQUESTING TO SHOW PROPERTY)
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Refrigerator
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | - | 768 |
1 1
PROPERTY TAXES
| Parcel Number | 133456 | Total Assessment | $326,821 (2025) |
| Land Assessment | $22,233 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $304,588 (2025) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
133456
Land Assessment
$22,233 (2025)
Improvements Assessment
$304,588 (2025)
Total Assessment
$326,821 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2024
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Presented by
Elevation Realty
312 Stokes St
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