Bought with Kevin Van Zyl
$775,000
$835,000
7.2%For more information regarding the value of a property, please contact us for a free consultation.
20 Beds
12 Baths
10,823 SqFt
SOLD DATE : 07/09/2025
Key Details
Sold Price $775,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 10,823 sqft
Price per Sqft $71
Subdivision Not In A Subdivision
MLS Listing ID 10102712
Sold Date 07/09/25
Bedrooms 20
Full Baths 12
HOA Y/N No
Abv Grd Liv Area 10,823
Year Built 1920
Annual Tax Amount $2,474
Lot Size 8.610 Acres
Acres 8.61
Property Sub-Type Duplex
Source Triangle MLS
Property Description
A rare opportunity to acquire a high-performing rental portfolio generating over $100,000 in annual rental income with a 10% CAP rate. This 8.6-acre property includes 5 single-family homes and 4 duplexes (12 doors total)—most of the homes have been extensively renovated and are leased through February 2026, with just one unit currently on a month-to-month lease.
The homes are in move-in ready condition, offering a turnkey solution for investors seeking immediate cash flow. Strategically located near Panther Lake, this property also provides potential for creative long-term exit strategies, future development, or value-add opportunities.
A vacant duplex on-site presents the possibility to increase the portfolio to 14 total units, further enhancing returns. With room to raise rents and long-term growth potential, this property offers both stability and upside for savvy investors.
Location
State NC
County Wake
Direction Follow I-440 E, I-40 E and NC-540 W to Old Stage Rd. Exit from NC-540 W. Drive to Old Stage Rd.
Rooms
Bedroom Description Primary Bedroom
Interior
Heating See Remarks
Cooling Other
Flooring Vinyl
Exterior
View Y/N Yes
Roof Type Shingle
Garage No
Private Pool No
Building
Faces Follow I-440 E, I-40 E and NC-540 W to Old Stage Rd. Exit from NC-540 W. Drive to Old Stage Rd.
Story 1
Foundation Slab
Sewer Septic Tank, Shared Septic
Water Shared Well
Architectural Style Ranch
Level or Stories 1
Structure Type Concrete
New Construction No
Schools
Elementary Schools Wake - Willow Springs
Middle Schools Wake - Herbert Akins Road
High Schools Wake - Willow Spring
Others
Tax ID 0696109576
Special Listing Condition Standard
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