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3425 Martin Ave 5 Unit Apartment Building $400,000 ($80,000/Unit) Greensboro, NC 27405
EXECUTIVE SUMMARY
A distressed multifamily property with potential for value addition. It comprises a total of 5 units. Two of these units are currently leased on a month-to-month basis at a rate of $950 per month. The remaining three units are vacant and have been updated with new flooring, windows, and paint. Tenants are responsible for their electric bills, (Individually metered) while the owner covers the costs of water, sewer, and trash services. The owner has indicated that no T-12 or rent rolls are available. The market rent is conservatively estimated at $1045 per month for each unit. Rent comps in documents and can be provided.
PROPERTY FACTS
| 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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