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3425 Martin Ave 5 Unit Apartment Building $400,000 ($80,000/Unit) Greensboro, NC 27405
Executive Summary
Back on the Market, No Fault of the Seller.
This is a highly distressed five-unit multifamily property offering strong value-add potential for experienced investors prepared to take on extensive renovation and stabilization work. This asset is not turnkey and will require capital investment to reach optimal performance.
The property consists of five total units. Two units are currently occupied on a month-to-month basis at $950 per month.The remaining three units are vacant and have received partial updates, including new flooring, windows, and fresh paint; however, additional work should be expected throughout the property.
Utilities are structured with electric individually metered and paid by tenants, while water, sewer, and trash are owner-paid. The seller has disclosed that no T-12 financials or formal rent roll are available.
Market rents are conservatively estimated at $1,045 per unit, with rental comps available upon request.
This is a highly distressed five-unit multifamily property offering strong value-add potential for experienced investors prepared to take on extensive renovation and stabilization work. This asset is not turnkey and will require capital investment to reach optimal performance.
The property consists of five total units. Two units are currently occupied on a month-to-month basis at $950 per month.The remaining three units are vacant and have received partial updates, including new flooring, windows, and fresh paint; however, additional work should be expected throughout the property.
Utilities are structured with electric individually metered and paid by tenants, while water, sewer, and trash are owner-paid. The seller has disclosed that no T-12 financials or formal rent roll are available.
Market rents are conservatively estimated at $1,045 per unit, with rental comps available upon request.
Property Facts Under Contract
| Price | $400,000 | Building Class | C |
| Price Per Unit | $80,000 | Lot Size | 0.61 AC |
| Sale Type | Investment | Building Size | 3,790 SF |
| No. Units | 5 | Average Occupancy | 1% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1962 |
| Apartment Style | Low-Rise | ||
| Zoning | RM-12 - RM-12 | ||
| Price | $400,000 |
| Price Per Unit | $80,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.61 AC |
| Building Size | 3,790 SF |
| Average Occupancy | 1% |
| No. Stories | 1 |
| Year Built | 1962 |
| Zoning | RM-12 - RM-12 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Recycling
- Walking/Biking Trails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $950.00 | 758 |
1 1
Property Taxes
| Parcel Number | 0046755 | Improvements Assessment | $166,900 |
| Land Assessment | $63,900 | Total Assessment | $230,800 |
Property Taxes
Parcel Number
0046755
Land Assessment
$63,900
Improvements Assessment
$166,900
Total Assessment
$230,800
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3425 Martin Ave
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